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 Apple Cash is an app for iOS phones (found in the Messages app), created by Apple to help its users easily send and receive money from another party.

This app collects all the money that was sent into a virtual card kept inside Wallet, an app that stores credit cards, debit cards, tickets, and more. What is Apple Pay, how does it work, and how do you set it up?

How does Apple Cash work?

This app helps you to send and receive money through the Messages app. Siri can be used to pay someone in your contacts.

When sending cash, your virtual card is used, but it can be changed to debit cards or both (in case you don't have enough money on the card). The application also contains a feature to cancel the payment, which can be used when the recipient does not accept the amount sent. When the money is received, it is automatically placed in your Wallet card, which helps you to either:

• Transfer the amount to your bank account.
• Purchase products with Apple Pay.
• Use it to pay someone with the Apple Cash app.

At the beginning of using the application, a message is sent for seven days to accept the money transferred to you, after which the transfer is automatic.

What do you need to get Apple Cash?

To send and receive money from person to person in the Messages app with Apple Cash, you'll need all of the following:

Be at least 18 years of age or older.

Living in the United States, as the technology was released in the United States and will soon be popularized.

Do you have a compatible device with iOS 11.2 or later or watchOS 4.2 or later?

Set up two-factor authentication for your Apple ID.

Sign in to iCloud with your Apple ID on any device you want to use to send or receive money.

Add an eligible debit card in the Wallet app so you can send money.

Devices that support this technology

Apple Cash is available on iPhone, iPad, and Apple Watch with iOS 11.2 or later or watchOS 4.2 or later. These devices are compatible:

• iPhone models with Face ID.
• iPhone models with Touch ID (except iPhone 5S).
• iPad Air, iPad, and iPad mini models with Touch ID or Face ID.
• Apple Watch Series 1,2 and later.
• Apple Watch (1st generation).

How to set up Apple Cash?

You can follow the steps below to set up in-person payments through Messages with Apple Cash.

• Open the Settings app on your iPhone or iPad.
• Then scroll down and tap Wallet & Apple Pay.
• Then turn on Apple Cash.
• Under Payment cards, tap Apple Cash.
• Then tap Continue and follow the instructions on your screen.

Are there amount limits in Apple Cash?

yes. There are limits to your Apple Cash Card balance, the amount you can send and receive in a message, and the amount you can transfer to your bank account.

The maximum credit you can receive after verifying your identity is $20,000. And if you are part of the Apple Cash Family, that amount will be reduced to $4,000.

The minimum amount you can send or receive with Apple Cash is $1 and the maximum is a maximum of $10,000 within seven days. If you are part of the Apple Cash Family, the limit is set at $2,000 for a maximum of seven days. The minimum amount for adding money to your Apple Cash Card is $10, and the maximum is $10,000. For Apple Cash Family users, the minimum stays at $10 but the maximum drops to $2,000.

Where is Apple Cash available?

So far, Apple Pay Cash is only available in the US, and we are waiting for it to be rolled out to other countries.