When you need cash, you might first think about using your credit card to get money. But if you have an Apple Card, you’ve probably found out that it’s not simple. Here’s the basic answer: the Apple Card does not offer a regular cash advance feature like cards from Discover or American Express do.
This isn’t a mistake. Apple chose to do this on purpose. But this doesn’t mean you have no choices.
Luckily, there are several smart and cheap ways to get cash using your Apple Card’s credit line. These methods help you avoid the very high fees and interest rates that come with typical cash advances. We will show you the two main methods: using the built-in Apple Cash system and using popular peer-to-peer (P2P) apps like Venmo. When you understand these processes, you can get the cash you need without falling into common credit card debt problems.
Why No Regular Cash Advance?
The Apple Card doesn’t have a direct cash advance feature because of Apple’s basic beliefs about their product. Apple and its partner bank, Goldman Sachs, designed the card to be simple, clear, and good for consumers. Regular cash advances go against these beliefs.
Most credit cards treat cash advances as high-risk, high-profit deals. Here’s what you usually face with a standard card when you need cash:
- High Upfront Fees: Most companies charge a cash advance fee, which is often 5% of the amount you take out or a flat fee of $10, whichever is more. This means a $500 cash advance could immediately cost you $25.
- A Very High Interest Rate: The Annual Percentage Rate (APR) for a cash advance is almost always much higher than your regular purchase APR. It’s common for this rate to be 27% or more.
- No Grace Period: Unlike purchases, interest on a cash advance starts building up the moment you take the money. There is no grace period. You start paying that high interest rate from day one.
By removing this feature, Apple protects its users from one of the most expensive ways to borrow money. This fits with the other main apple card benefits, such as no yearly fees, no late fees, and no foreign transaction fees. It’s a deliberate choice to encourage better money habits rather than making profit from a user’s urgent need for cash.
Method 1: The Apple Cash Workaround
The main and most built-in way to get cash from your Apple Card is by using the Apple Cash feature in your iPhone’s Wallet app. This method is the “official” workaround and, when done right, is the cheapest option available.
What Is Apple Cash?
Before jumping into the steps, it’s important to understand what is apple cash. Apple Cash is a digital card that lives in your Wallet app. It works like a prepaid debit card. You can use it to send and receive money with friends and family through the Messages app. It’s also where your Daily Cash, the apple card cash back you earn, goes every day. The balance on your Apple Cash card can be used to make purchases with Apple Pay, pay your Apple Card balance, or be moved directly to your bank account.
Step-by-Step Guide
This process needs help from a trusted person, like a family member or close friend. The basic idea is to use your Apple Card to “purchase” money sent to them, which they then send back to you. Because the first transaction is a person-to-person payment, Goldman Sachs processes it as a purchase, not a cash advance.
Step 1: Send Money to a Trusted Person
- Open the Messages app and start a conversation with your trusted friend or family member.
- Tap the Apple Pay button (the “A” icon) in the app drawer above the keyboard.
- Enter the amount of cash you need.
- Tap “Pay.” On the next screen, you’ll see the payment summary.
- Tap the line that shows your payment method. By default, it might try to use your Apple Cash balance or a debit card.
- Select your Apple Card from the list of available cards.
- Confirm the payment with Face ID, Touch ID, or your passcode.
This transaction is now on its way to your friend. Importantly, it will appear on your Apple Card statement as a standard purchase, subject to your normal purchase APR and eligible for a grace period.
Step 2: Have Them Send the Money Back
Once your friend receives the notification that you’ve sent them money, the funds will appear in their Apple Cash balance. All they need to do is open the same message thread and send the exact same amount back to you. The process is the same for them.
Step 3: Receive Funds in Your Apple Cash
You will receive a notification that your friend has sent you money. This amount will now be added to your Apple Cash balance in the Wallet app. The cash is now under your control.
Step 4: Transfer to Your Bank or Debit Card
With the funds in your Apple Cash account, you have two options to get it into your bank account.
- Open the Wallet app on your iPhone.
- Tap on your Apple Cash card.
- Tap the “More” button (the circle with three dots) and select “Transfer to Bank.”
- Enter the amount you wish to transfer and tap “Next.”
- You will be presented with two choices:
- Free Transfer: This option uses the ACH network and typically takes 1-3 business days for the money to appear in your linked bank account. There is no fee for this service.
- Instant Transfer: This option uses the debit card network to send money to a linked debit card almost instantly. It comes with a 1.75% fee (capped at $25). For example, transferring $500 would cost $8.75. Always check the current fee in the Wallet app before confirming, as it can change.
Can You Use an ATM?
A common question is, can i use apple cash at atm? The answer is complicated. You cannot take your titanium Apple Card (the credit card) to an ATM and withdraw cash. An attempt to do so will be declined, as there is no apple card atm withdrawal functionality.
However, if you have a physical Apple Cash debit card, you can use it to withdraw your Apple Cash balance from an ATM. This card is not sent out automatically and must be requested separately. It is a different product from the Apple Card credit card. This difference is vital; trying to withdraw cash from my apple credit card at an ATM will not work. The cash must first be in your Apple Cash balance.
Method 2: Using P2P Apps
Another popular method for getting cash from your Apple Card is by using third-party peer-to-peer (P2P) payment apps. The most common of these is Venmo, but the idea also applies to others like PayPal.
Apple Card on Venmo
Yes, you can definitely use your Apple Card on Venmo. The venmo apple card integration is smooth. You simply add your Apple Card to your Venmo wallet as a payment method, just as you would any other credit card. This allows you to use your Apple Card’s credit line to send money to other people.
The Venmo Process
Similar to the Apple Cash method, this process involves sending money to a trusted friend who then gives you the cash.
- Open the Venmo app and make sure your Apple Card is added as a payment method.
- Start a payment to a trusted friend or family member for the amount of cash you need.
- When selecting your payment source, choose your Apple Card.
- Important: Venmo will clearly show that a fee applies for sending money using a credit card. The standard venmo credit card fee is 3% of the transaction amount.
- Confirm the payment. The money is sent to your friend’s Venmo balance.
- Your friend can then instantly transfer the funds to their bank account and withdraw the cash from an ATM to give to you.
The key problem here is the cost. A 3% fee on a $500 transaction is $15. While this is still often cheaper than a regular cash advance fee, it is more expensive than the free Apple Cash method.
Is It a Cash Advance?
This is an important question. When you use a credit card on venmo, does venmo do cash advance? From the perspective of your credit card company, the answer is no. Goldman Sachs processes a venmo credit card payment as a purchase.
This means:
* You are charged the standard 3% fee by Venmo, not a separate cash advance fee by Apple.
* The transaction is subject to your regular purchase APR, not a higher cash advance APR.
* The transaction is eligible for your card’s interest-free grace period.
While the function is similar to getting cash, the underlying transaction type is much better for you as a consumer.
What About Apple Pay?
Many users wonder, does venmo take apple pay? Yes, it does. You can select Apple Pay as your payment method within the Venmo app. If your Apple Card is the default card in your Apple Wallet, the venmo apple pay process is very quick. However, the costs are the same. Using Apple Pay linked to your Apple Card to fund a Venmo payment is still considered a credit card transaction and will have the same 3% fee.
Cost and Process Comparison
To make a smart decision, it’s important to see how these methods compare to each other and to regular cash advances from other popular cards. The best method depends on your priorities: speed versus cost.
| Method | Upfront Fee | Interest Rate (APR) | Process Summary |
|---|---|---|---|
| Apple Cash Method | 0% to send. Optional 1.75% for Instant Transfer to bank. | Your standard Apple Card purchase APR. | Send to friend via Messages, they send it back, you transfer to your bank. |
| Venmo Method | 3% of the transaction amount (charged by Venmo). | Your standard Apple Card purchase APR. | Send to friend via Venmo, friend gives you cash or transfers to you. |
| Discover Card Cash Advance | 5% of the amount or $10, whichever is greater. | A special, higher Cash Advance APR (e.g., 27.99%+). | Withdraw directly from an ATM or bank. Interest builds up immediately. |
| American Express Cash Advance | 5% of the amount or $10, whichever is greater. | A special, higher Cash Advance APR. | Withdraw directly from an ATM or bank. Interest builds up immediately. |
As the table clearly shows, a cash advance from a Discover card or an American Express card is much more expensive. The upfront discover cash advance fee or amex cash advance fee is higher, and the immediate, high-interest debt makes it a costly choice for anything but a serious emergency.
While the Apple Card workarounds require an extra step involving a trusted friend, the savings are huge. You completely avoid the harsh cash advance APR and immediate interest buildup. The Apple Cash method stands out as the clear winner on cost, being nearly free if you can wait a day or two for the standard bank transfer.
An Alternative: Daily Cash
Before you decide to pull cash from your credit line, it’s worth considering a different approach: getting the most rewards your card is designed to provide. Instead of focusing on how to get cash from your card, think about how to use your card’s benefits to reduce your expenses. This is where Daily Cash, the apple card cash back program, shines.
Understanding Daily Cash
The Apple Card offers one of the most straightforward rewards programs on the market. The amount of cash back you earn is clear and depends on how you pay.
- 3% Daily Cash: You earn 3% cash back on apple card for all purchases made directly from Apple (including App Store, Apple Music, and hardware) and with select partners like Uber, Walgreens, Nike, and Panera Bread when you use Apple Pay.
- 2% Daily Cash: You earn 2% for all other purchases you make using Apple Pay. This is a powerful reason to use tap-to-pay wherever it’s accepted.
- 1% Daily Cash: You earn 1% for any purchase made using the physical titanium Apple Card.
Knowing how much cash back on apple card you get for each transaction type can help you plan your spending to get the most returns.
How Daily Cash Becomes Real Cash
The “Daily Cash” name is literal. Unlike other rewards cards that make you wait a month to use points, your apple rewards card puts your cash back into your Apple Cash account every single day.
This balance in your Apple Cash account is real money. From there, you have the same options we discussed earlier:
- Transfer it to your bank account for free.
- Use it to instantly pay down your Apple Card balance.
- Spend it anywhere Apple Pay is accepted.
By consistently using your Apple Card for everyday purchases, especially via Apple Pay to get 2% or 3% back, you create a steady stream of real cash that can be used for small expenses, effectively reducing your need to perform a cash advance in the first place.
Conclusion: Your Smartest Options
Let’s bring it all together. A direct cash advance on apple card is not possible, and we believe this is a consumer-friendly feature, not a problem. It guides you away from one of the most expensive forms of credit card debt.
When you do need to get cash from your Apple Card credit line, you have two excellent workarounds.
- Best Option (Lowest Cost): The Apple Cash method is the better choice. It involves sending money to a trusted friend via Messages and having them send it back. The transaction is treated as a purchase, and if you can wait 1-3 business days for the free bank transfer, the entire process costs you nothing.
- Good Alternative (Faster but More Expensive): The Venmo method is a solid backup. It’s fast and convenient but comes with a 3% fee from Venmo. This is still far better than a regular cash advance but more expensive than the Apple Cash route.
While the technical apple card cash advance limit is your available credit limit (since these are processed as purchases), it is financially smart to only access what you absolutely need.
By understanding these methods, you are empowered to make smart financial decisions. You can access cash from your Apple Card when necessary while skillfully avoiding the high fees and immediate, high-interest debt that come with traditional cash advances offered by other credit cards.
