The changes appear to take effect with the update to iOS 12.2.
As a customer of Apple Pay and Apple Pay Cash, we wanted to let you know about changes coming to Apple Pay Cash with iOS 12.2 and watchOS 5.2 software updates.
Introducing Apple Pay Cash Instant Transfer
With Instant Transfer, you can now quickly transfer money from your Apple Pay Cash balance to an eligible Visa debit card in Wallet. Instant Transfers generally are processed within minutes of your request, but could take up to 30 minutes.* A 1% fee (with a minimum fee of $0.25 and a maximum fee of $10) is deducted from the amount of each instant transfer.
You can still transfer money from your Apple Pay Cash balance using an ACH bank transfer and receive it in your bank account within 1 to 3 business days.* There are no fees to transfer money from Apple Pay Cash to your bank account using an ACH bank transfer.
To learn more about Apple Pay Cash transfers, click here.
Ending support for sending money using credit cards
Starting on March 25, 2019, we will no longer support using credit cards to fund person to person payments. This will ensure Apple Pay Cash customers never have to worry about cash advance fees that may be charged by issuing banks.
You can continue to send money for free with Apple Pay, with no fees at all, using your debit card or your Apple Pay Cash balance.
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