Apple Cash’s Banking Partner Tightens ID Rules, Keeps Crypto Ban

Apple has been emailing users astir Green Dot Bank’s updated terms for Apple Cash, a integer prepaid paper successful the iPhone Wallet app. Starting Nov. 9, users who haven’t verified their individuality volition nary longer beryllium capable to reload their Apple Cash balance, the tech elephantine said. The service, disposable lone successful the U.S., is provided by Green Dot Bank, which already constricted what unverified accounts tin do.

According to Apple, Green Dot requires individuality verification for fraud extortion and regulatory reasons.

Under Green Dot’s terms, unverified users already cannot nonstop oregon person much than $500 done person-to-person transfers. However, Apple noted that unverified users tin inactive walk the wealth successful their Apple Cash accounts with Apple Pay and transportation it to their slope accounts.

Restricted Bitcoin and Crypto-Related Transactions

Meanwhile, the crypto plus transaction prohibition remains unchanged successful Green Dot Bank’s updated presumption for Apple Cash users. The prohibition was introduced successful 2024, according to earlier versions of the presumption saved by the Internet Archive’s Wayback Machine.

The presumption accidental Apple Cash cards, balances, and wealth transfers cannot beryllium utilized for “cryptocurrency transactions.” Gambling-related transactions, broker/dealer transactions and third-party wealth transfers are besides forbidden.

Compared with the outpouring 2024 version, the existent presumption besides incorporate an “except arsenic different permitted” carve-out, which allows the slope to marque exceptions.

Apple Cash balances are held lone successful U.S. dollars, truthful the prohibition covers utilizing this wealth successful crypto asset-related deals, specified arsenic paying a crypto speech with an Apple Cash paper to bargain crypto assets. However, it’s not wide however the prohibition would beryllium enforced successful a P2P transaction erstwhile buying, for example, bitcoin.

As reported by Bitcoin.com News, Goldman Sachs restricted crypto asset-related transactions with Apple Card successful 2019. In January 2026, the slope said it was transitioning the Apple Card program and associated accounts to JPMorgan Chase, a process expected to beryllium completed by the extremity of 2028. It is chartless however this modulation mightiness impact crypto plus purchases made with an Apple Card. In either case, Chase already allows its ain credit-card customers to money Coinbase accounts.

Crypto Partnership and Upcoming Changes

Meanwhile, Green Dot is not a alien to the crypto plus world. Last year, Green Dot Corporation partnered with Crypto.com, offering its U.S. clients an on-ramp and off-ramp for the platform’s Cash Accounts.

Separately, successful June 2026, Green Dot said it expected to implicit a woody successful the 3rd 4th of 2026 nether which Commerceone Financial Corporation would get Green Dot Bank, portion Smith Ventures would get Green Dot’s non-bank fintech business. The institution hasn’t issued an update connected the transaction since then, and it’s besides unclear whether the caller owners volition alteration thing for Apple Cash users.

At the aforesaid time, Apple has conscionable got a caller boss, arsenic John Ternus became Apple’s CEO connected Sept. 1, 2026. Tim Cook moved to enforcement president aft 15 years arsenic CEO. As reported by Bitcoin.com News, determination is nary nationalist accusation connected Ternus’ views connected crypto assets, portion Apple’s crypto plus strategy could beryllium arsenic overmuch connected different executives.

For example, longtime Apple Pay and Wallet services brag Jennifer Bailey is retiring astatine the extremity of October, and her successor should beryllium announced earlier she leaves.