Avoid Transaction Fee Up to 3% Using Apple Pay Cash on iPhone

December 5, 2017
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With Apple Pay Cash! Forget getting charged an additional 3% on credit card transactions. Make use of your debit card. With Apple Pay Cash, you now get a fee free transaction zone. All you need is an authorized debit card from your bank.

If you own an iPhone, I am sure you are pretty well aware of how Apple Pay Cash works. You require adding traditional credit/debit card information to your Apple Wallet before you make the transaction. Mostly, people use a credit card for transactions and hence, they end up paying a transaction fee of 3%.

Although Apple prompts users to add a debit card when setting up Apple Pay Cash which most users easily decline. But, one can always access and change that information manually later.

How to Add a Debit Card in Apple Pay Cash

In order to add a Debit Card in Apple Pay Cash, find the plus sign and press it within your Wallet app. It is mostly located on the upper right corner.

To set up a Debit Card in Apple Pay Cash using iPhone, you will have to go through the similar process as that of entering information of your Credit Card. Enter your 16 digit card number printed in front of the card. Then, simply enter the 3-digit security code which is located at the back of your card.

How to Make Transaction Using Debit Card via Apple Pay Cash

To send a specific amount to someone, access the Messages app and choose iMessage App Store icon. From there, you can select the Apple Pay icon and simply enter the amount you wish to send. Once done with adding the amount and you are confirmed to make the transaction, select the Pay button. In order to confirm the payment, the application will prompt you to select a card.

Now if your selected card is a credit card, you will be charged an extra 3% fee on every transaction but, if you shift your card choice to a debit one, you will ultimately end up with paying no transaction fee. Now all you have to do is confirm your identity, which you can do so using the Face ID feature from your iPhone X by double pressing the side button.

Once authorized, your payment is complete and is on its way to the receiver.

Following are the online stores which accept Apple Pay Cash.

A debit card is a more viable solution as compared to a credit card. That’s because unlike credit cards, you don’t have to wait for the transaction to take place after a couple of days. With Debit cards, transactions are instantaneous. However, if you don’t have money in your bank account, your payment can decline which does not happen while using a credit card. You have to pay up the amount which comes in the form of a bill every month.

How Can the Receiver Make Use of the Transaction Cash?

Apple Pay Cash is stored virtually on a card which is pretty much similar to a bank’s ATM card. To make transactions, you can utilize it on any store of your choice and you will not be charged an extra fee at all. In order to transfer money from you Apple Pay Cash Card into your bank account, select Settings, go to Apple Pay Cash and then select Transfer to Bank.

It’s quite simple, and I hope you can get the hang of it. Save yourself an additional cost on credit cards, instead make use of debit cards!

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