Apple is rolling out a change to Apple Cash that requires identity verification when customers reload their balance. Multiple outlets report that emails being sent to users say Green Dot Bank will begin requiring verification starting November 9.
Apple Cash already requires identity checks when adding, sending, or receiving more than $500 in total, but the new policy extends verification to any reload, not just larger transactions. Customers who cannot complete verification will be unable to send or receive money or add money to their Apple Cash balance. Money already in an account remains usable for transactions and can still be transferred to a bank account.
Accounts of how users will verify and why the change is happening are consistent across sources. Apple states the verification is for “fraud protection and regulatory reasons.” Apple also indicates identity verification can be handled through in-device options available on supported devices and states, such as using a digital driver’s license stored in the Wallet app. The emails also reference potential future options for adding money, including transferring funds from a bank or merchant, while current reloads are generally done via the Wallet app with a connected debit or prepaid card.
