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

Ok, maybe there's a misunderstanding about what the OP and Wileone are trying to say. Both of them are saying that they want to be able to choose which bank account they can send money to via ApplePay. They didn't say anything about receiving the original payment from Cash App, PayPal, Venmo, or any other 3rd party payment and then running it through ApplePay to their bank account (which as someone mentioned might attract attention) but that they simply wanted to send the money received through ApplePay to another one of their bank accounts without having to delete and replace the 1 bank account that ApplePay is allowing them to send it to.

Some responded that it can't be done - and that's kinda true. Apple will only allow us to connect one bank account at a time of which we can transfer our money to for free.

However, the assertion that what OP and Wileone are trying to do would be perceived as money laundering is incorrect. The act of sending their money to the bank of their choice through a 3rd party by itself (and in the absence of receiving those funds through criminal activity) would NOT meet the definition of money laundering.

What they are trying to do is very common for people who tend to organize their finances or use certain accounts for certain reasons. They simply want certain funds to go into certain accounts so that they can use it for the purpose of that particular account.

It also doesn't make sense to suggest that the solution would be to send the money from ApplePay to Bank acct A only to then have Bank acct A somehow transfer it to Bank acct B because that would then defeat the very purpose of ApplePay - which is to make payments or deposits faster and less complicated, right?

So the answer to the OP and Wileone's question about whether we can transfer money from ApplePay to more than one account is yes....and no.

At least as of right now (July 2024), Apple does not give users a way to add more than one bank account to transfer ApplePay funds to for free. When I look at my wallet, I see that Applepay will allow me to transfer money to my AE Savings Acct for free (which will take 1-3) days but despite also having a debit card from another bank in my wallet, ApplePay only seems to be willing to transfer money to that account in the form of an instant transfer - of which they will charge me a fee.

I know this has been a long response and I know the answer is not what we wanted but I hope that this makes things clearer for someone.

Be well all!

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.

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

The concept is money laundering. That’s exactly what criminals that engage in drug trafficking, human trafficking, terrorism etc. do. They need to transfer funds from one account, through an account and into another account.

I have an account with JP Morgan Chase. I can transfer funds within Chase for free. So, the majority of our individual and joint accounts are with Chase. However, I maintain accounts with Wells Fargo, 5/3 and Regions. I also have smaller accounts with Discover and American Express. I can transfer funds from Chase to those for free also, but there are weekly dollar limits or there is a fee incurred.

Another way to go for transferring funds is a service like Zelle. However, they’ve come under closer regulator scrutiny for … wait for it … money laundering, among other banking irregularities.

Apple Wallet and Apple Cash were never designed for these type of transfers. It’s just not something that is going to be easily facilitated.

Doesn’t your bank have a mobile app that allows you to transfer funds from one account to another? That’s a pretty standard service today.

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.

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.

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 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.

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?