Apple and Other Mobile Pay Restricted

The algorithm from various institutions think you present a risk. This is especially true if the transfers are in the thousands. The source of the funds comes into play as well. If the algorithm can’t detect a source, the greater the risk. Sources could be a direct deposit paycheck. Large cash deposits even under $10,000 are suspicious and present risk. Depositing funds or transferring on specific days is also suspicious. For example, depositing large amounts always on a Friday, or always the beginning of a month can indicate the funds are from a commercial use, such as rent being paid via Apple Cash, Venmo personal etc. Business/commercial use of these accounts is prohibited by the Terms and Conditions.

Do any of your money transfers involve commercial use of funds? These types of accounts are frequently identified in money laundering schemes. It’s possible your use of the service has tripped the fraud detection algorithms and your account is being closed due to the risk. About a year ago TD Bank was fined $3 billion for not shutting down suspected money laundering accounts etc.