Apple Cash Tightens ID Rules Leaves Crypto Ban Intact

Apple Cash users are facing stricter identity verification requirements starting November 9, 2023, as the service's banking partner, Green Dot Bank, tightens its rules. Unverified users will no longer be able to reload their Apple Cash balance, though they can still spend the money with Apple Pay or transfer it to their bank accounts. Green Dot cites fraud protection and regulatory compliance as reasons for the change, which also limits unverified accounts to transfers of $500 or less.

The ban on cryptocurrency-related transactions via Apple Cash remains in place, according to Green Dot's updated terms. This prohibition, which has been in effect since 2024, extends to using Apple Cash cards or balances for crypto purchases or other crypto-related deals. The terms do allow for potential exceptions, but enforcement details, especially in peer-to-peer transactions, remain unclear.

Green Dot's involvement in the crypto space includes a 2025 partnership with Crypto.com, providing an on-ramp and off-ramp for the platform's Cash Accounts. Meanwhile, Green Dot is set to be acquired by Commerceone Financial Corporation, with the deal expected to close in the third quarter of 2026. The impact of this acquisition on Apple Cash users is unknown.

Apple itself is undergoing leadership changes, with John Ternus taking over as CEO on September 1, 2026. Jennifer Bailey, the longtime head of Apple Pay and Wallet services, is retiring at the end of October 2026, and her successor has not yet been announced. These changes could influence Apple's future crypto asset strategy, though no public information is available on Ternus' stance on cryptocurrencies.