Apple Pay Cash Transfer to Bank 1-3 Days!?!?

[LarryJoe33]

Just used it for the first time to send almost $3,000 to someone. It worked fine from an Apple Pay Cash perspective, but it takes the recipient 1-3 days for the transfer to bank to complete.

I find this unacceptable. Even Paypay offers instant transfers for $1.00 (may be $0.25). My bank offers instant transfers via their app. I believe the venmo's and the like transfer to bank instantly.

Seems odd.

 

[christian.terra]

If I transfer to bank before noon on a business day, I get it same day (usually around 5pm). I use Bank of America, not sure if that makes a difference.

 

[achappy]

I've only done it once to BofA and it was immediate. Had it same day after a few hours but I did it early in the morning. Paypal also states the same timeframe for free transfer but it's also can be same day if I do it early enough.

 

[roncito]

I have PNC and I noticed that after the first few times it took about 2 days. Now I have used it quite a bit and it’s there the same day. I’m guessing PNC now just accepts it right away instead of waiting for the payment to clear.

I’d say use it a few times and see how it goes.

 

[akash.nu]

In the UK we get it within minutes using normal bank transfers.

 

[Mlrollin91]

Just used it for the first time to send almost $3,000 to someone. It worked fine from an Apple Pay Cash perspective, but it takes the recipient 1-3 days for the transfer to bank to complete.

I find this unacceptable. Even Paypay offers instant transfers for $1.00 (may be $0.25). My bank offers instant transfers via their app. I believe the venmo's and the like transfer to bank instantly.

Seems odd.

PayPal and Venmo both take 1-2 business days. I use both on almost a daily basis. It goes into your account immediately, like Apple Pay Cash, but to get it into a bank account it takes a minimum of one business day.

 

[Dwalls90]

PayPal and Venmo both take 1-2 business days. I use both on almost a daily basis. It goes into your account immediately, like Apple Pay Cash, but to get it into a bank account it takes a minimum of one business day.

Yea, I think this is more of a bank issue and less of a technology issue. Most banks hold back a portion or entire amount of a large transfer/deposit, depending on the bank and your type of account, until after a few extra days elapse.

 

[Starship67]

That’s something you would need to take up with green dot, they are the bottleneck if it truly takes that long.

 

[EM2013]

Send me $3,000 and we’ll see how it takes this time.

 

[furbzv1]

its really a shame if it takes 1-3 days when others like Venmo, PayPal can deposit in 30 minutes for a fee or even instant like the cash app.

 

[LarryJoe33]

Thanks all. I had someone transfer me $10 as a test and then I transferred it to my bank. This was this morning and it's already in my account as a pending transaction. All good. I guess the 1-3 day disclaimer more has to do with CYA if your bank is a dog at processing transactions.

 

[dcp10]

Antiquated banking system in the US. Here’s an intriguing podcast on the subject.

http://rssr.link/5lUL

 

[dannyyankou]

Yeah it's inconvenient that they don't have an instant transfer option, but you can also make payments with your Apple Pay cash card. I just use it as a normal debit card sometimes.

 

[LarryJoe33]

Yeah it's inconvenient that they don't have an instant transfer option, but you can also make payments with your Apple Pay cash card. I just use it as a normal debit card sometimes.

Yeah, I think this is more what it is meant for. Probably not sending 3 grand like I did. With that amount it makes sense to get it into the bank.

 

[lsutigerfan1976]

I’ve tried it a few times. But honestly I don’t know many ppl who have even bothered to set this up. Each time it has taken at least a day to see the funds in that person’s account. Since then I use Zelle. It’s instant. And everyone I know uses Zelle. So I have had no real reason to even use Apple Pay cash.

 

[MikeRadio]

I’ve tried it a few times. But honestly I don’t know many ppl who have even bothered to set this up. Each time it has taken at least a day to see the funds in that person’s account. Since then I use Zelle. It’s instant. And everyone I know uses Zelle. So I have had no real reason to even use Apple Pay cash.

It looks like you’re going straight to Zelle!


I agree that if Venmo, square cash and PayPal.p can have instant bank transfer options Apple Pay Cash needs to as well to be competitive.

 

[LarryJoe33]

It looks like you’re going straight to Zelle!


I agree that if Venmo, square cash and PayPal.p can have instant bank transfer options Apple Pay Cash needs to as well to be competitive.

So I see this thread has been resurrected and since I started it a while back I have used Apple Pay Cash a fair amount. It has been pretty much real time transfers for me. Maybe 30 minutes. So I do think it has more to do with your bank than the service. I love the ease of it. I don't use venmo or zelle and I can't wait for the day I never have to use Paypal! On top of Paypal skimming off my seller proceeds, they now 1099 you and you have to pay State sales taxes on the gross amount of proceeds when you do your return and can't even net out the original cost! Crooks.

 

[MikeRadio]

So I see this thread has been resurrected and since I started it a while back I have used Apple Pay Cash a fair amount. It has been pretty much real time transfers for me. Maybe 30 minutes. So I do think it has more to do with your bank than the service. I love the ease of it. I don't use venmo or zelle and I can't wait for the day I never have to use Paypal! On top of Paypal skimming off my seller proceeds, they now 1099 you and you have to pay State sales taxes on the gross amount of proceeds when you do your return and can't even net out the original cost! Crooks.

Actually there have been changes in the ACH system used Tim clear transfers in the US over the past weeks.. Cash transferred early in the day with Apple Pay should get there later that day.

It’s not the same as an instant transfer which doesn’t use ACH but its better now

 

[mrios25]

I just experienced this yesterday. I was booking a hotel room for a friend and I for this weekend and he was needing to send me his portion. We were going to use Apple Pay Cash however it said it would take a few days so we downloaded the Cash app and he sent it to me and I was able to cash out to my debit card instantly. It was super easy. I would expect that from Apple Pay Cash. Hopefully they make those changes soon.

 

[lesly garcia]

If I transfer to bank before noon on a business day, I get it same day (usually around 5pm). I use Bank of America, not sure if that makes a difference.

My dad sent me money at 6:00 in the morning and I transferred it to my account and it’s almost 1:00 do you think I will receive the money today ? I have Bank of America

 

[Böhme417]

Every transfer I’ve done has gone through, or at least shown up on my account, the same day. It may not clear the same day if after a certain time, but it’s definitely not long enough to keep from using it. And, oddly enough, I’ve never had to do the “verify identity” thing, but one person I sent money to was forced to on his first transfer.