Has anyone seen this? I’ve never heard of Green Dot Bank before but they are going to be responsible for Apple Cash.
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Apple Cash is now handled by Green Dot Bank?
- Thread starter miabadboys
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I see a fee. Not sure if it was this way before:
| Transfer money | ||
| Instant transfer to a debit card | 1.5% | Percentage taken of the amount of each transfer. Fee is rounded to the nearest cent, subject to a $0.25 minimum and $15 maximum. |
Green Dot Bank was the administrating bank for Apple Cash before this announcement. Apple is not a bank, they cannot hold funds in this way.
That fee is also not new.
That fee is also not new.
Thanks, I thought it was all under Goldman Sachs. Guess they just handle the credit card portion.
Correct, GS handles the credit card and the savings account. Green Dot handles holding and transferring Apple Cash transactions. Money held in Apple Cash (before transferring to a different bank, or to a different person) sits on what is, essentially, a virtual pre-paid debit card.