Can I have 2 bank accounts in my wallet? I need to be able to transfer money to both

Yes, I have multiple accounts on Apple Pay. If you want a free transfer, you have to do an instant transfer to Apple Cash first, then a 1 to 3 days ACH transfer. If you do instant transfer to the bank, there is a fee. But most big banks allow for transfers between accounts, bypassing Apple Cash. Chase does it for free. Most banks offer Zelle, but it’s slow in my experience.

You can’t transfer funds between bank A to bank B. The path is bank A to Apple Cash and then to bank B. The transfer can only be done instantly for a fee. You cannot transfer between banks instantly for free.

Sending funds to a bank instantly cost 1.7%. You can do a free transfer to another bank for free, but it takes 1 to 3 business days.

You can’t add a second account. The question in this thread is >Can I have 2 bank accounts in my wallet? I need to be able to transfer money to both< and the answer is no. You may be able to remove one account and then add another account.

What exactly do you want to do?

It’s not my perception of what money laundering is, it’s your perception of what money laundering is and the steps banks are required to follow to prevent and report possible money laundering activities.

First, Apple is not a bank. It cannot transfer funds. Banks transfer funds domestically through the Automatic Clearing House (ACH) system sponsored by the Federal Reserve Bank. Apple does not have access to the ACH system to initiate the transfer, it’s not a bank.

Transferring funds via ACH costs money. The faster the service, the more it costs. If Apple were to become a bank, they too would charge fees for transfers.

Moving funds between various banks may seem like a harmless activity, after all it’s your money. But banks have regulations and safeguards to think about. The safeguards are designed to detect potential illegal banking transactions and report them for investigation. Many of these transactions are investigated by FinCEN (Financial Crimes Enforcement Network). Banks take action on the findings of FinCEN and may close the individuals account if they even suspect irregularities in the transactions.

Banks take action by closing and locking accounts, not because they’re guilty, but the bank just doesn’t want the risks. That isn’t the type of activity they want on their books. The risks and costs involved are too high.

I understand what you want. Apple Pay is not the financial instrument/service to do it.

If the funds are going from an Apple Cash account, as in your scenario, and you transfer them to another account, no issue. You can do that now.

However, you receive a payment from Cash App, PayPal, Venmo, and run it through Apple Cash and send it to bank XYZ, that’ll attract attention banks don’t want.

Each account needs to have a debit card attached to the account and both cards need to be in your Apple Wallet app.

I also need to do the same thing. I have two accounts, same bank, my personal and our house account. I do not want to transfer from Apple to my account and then transfer again to the house. I want to transfer directly if it is money that needs to go to the house. Some of the answers that I have read for this question make it seem like it’s foreign to them and never heard of or can’t make sense of it. Not to be rude but it surely cannot be a new concept, you either can or can’t and if it is the latter, then it is something Apple should consider doing or at least tell us here why or why not.

Hi.

I’m having the same issue. Did you ever find out how to add another bank account?

I followed these instructions and still can’t find a way to add a second bank account. What am I missing?

Hi money transfer

That’s a bit extreme. If someone sends me money to pay me back for dinner, I just would like an option of sending it to bank A or bank B.

I assumed it would be simple but I don't see any way to add a second bank account. When I select "card details" from apple cash I see my bank account but there is no option to add a second account. And when I select "transfer to bank" the only option appearing is my primary bank account but I want to send to another account, and I don't see anyway to add a second account.

I figured it out. go to settings, go to Wallet and Apple Pay, press “Apple Cash”

then scroll a little and press “Bank Account”.

Then you can proceed with what you are wanting to do.. either that being adding a new bank account or removing the bank account!

I hope this helped.. because I was having the same problem.. Came here and got no help.

Decided to try and do it myself and BOOM.

:) ur welcome

I don't know what the original OP's intent was, but I have accounts with a couple different banks. What I'd like to be able to do is to have multiple bank accounts set in my wallet so that I could transfer money to bank A or bank B depending what that money was for. I don't think Apple Cash is set up to do that.

I don’t start with the money. My friend sends me money via Apple Cash to pay me back or whatever. I’m able to set up multiple accounts on Venmo, it would be nice to be able to do it with Apple Cash.