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miabadboys

macrumors member
Original poster
Jan 18, 2011
52
9
On Top of The World
Has anyone seen this? I’ve never heard of Green Dot Bank before but they are going to be responsible for Apple Cash.
IMG_1278.jpeg
 

ctucci

macrumors regular
Dec 16, 2008
171
43
Yer Mom's basement.
I see a fee. Not sure if it was this way before:


Transfer money
Instant transfer to a debit card1.5%Percentage taken of the amount of each transfer. Fee is rounded to the nearest cent, subject to a $0.25 minimum and $15 maximum.
 

cateye

macrumors 6502a
Oct 18, 2011
670
2,606
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.
 
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cateye

macrumors 6502a
Oct 18, 2011
670
2,606
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.
 
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