Hi, please let me explain how funds move in the US. The vast majority of funds are moved over the ACH (Automated Clearing House) network. ACH is an NGO, overseen by the Federal Reserve Bank.
Apple is not a bank, it does not have access to the ACH network. Apple Cash is a service that Apple contracts with Green Dot Bank to provide. When you do a >push< instant transfer of funds from your Apple Cash account to another account you own the funds instantly leave (electronically) Green Dot Bank, travel over the ACH network, typically one or more data centers, to the destination bank.
Any delays are the result of high network traffic or scheduled maintenance etc. Most major banks instantly credit the funds to the deposit account. However, receiving banks may also delay crediting the account for both technical and procedural reasons.
Larger banks seem to do much better with receiving and crediting transfers than smaller banks such as community banks, credit unions and savings & loans. For example I bank with Chase, Wells Fargo, 5/3 and Regions. My banks are 2 of the 4 largest banks in the country. The other 2 are large regional banks. I’ve been using Apple Cash for about 8 years and can’t remember a time when an instant transfer took more than 30 seconds.
What specific banks are you transferring to that delay your availability of funds?
