Apple Cash users will face new identity requirements when adding money to their accounts. Starting November 9, Green Dot Bank will require identity verification for users who want to reload an Apple Cash balance.
Apple has started notifying customers about the changes by email. Green Dot Bank, Apple Cash’s financial partner, is introducing the updated terms. The changes cover identity checks, arbitration rules and new ways to fund an Apple Cash Card.
Identity Checks Become Important for Apple Cash
From November 9, users who want to reload Apple Cash must complete identity verification. Apple provides a straightforward route through the iPhone Settings app.
Users can open Settings, select Wallet & Apple Pay, and then choose Apple Cash. From there, they can follow the on-screen verification instructions.
However, the change goes beyond simply restricting balance reloads. Users who remain unverified will lose the ability to send or receive money through Apple Cash.
They will still have access to money already stored in their accounts. Therefore, they can continue spending those funds or transfer them to another bank account.
Green Dot Bank Updates Arbitration Terms
Another change affects the arbitration section of the Apple Cash Terms and Conditions. Green Dot Bank has revised provisions covering user rights and dispute resolution.
Apple encourages customers to review these updated terms. As a result, users can better understand how future disputes may be handled.
Direct Funding Could Expand Payment Options
Meanwhile, Green Dot Bank may introduce what it calls “Externally-Initiated Funding Transactions.” This feature could provide another way to move money into Apple Cash.
Under the proposed option, users could send funds directly to their Apple Cash Card from a bank or merchant.
