Apple has been emailing users about Green Dot Bank’s updated terms for Apple Cash, a digital prepaid card in the iPhone Wallet app. Starting Nov. 9, users who haven’t verified their identity will no longer be able to reload their Apple Cash balance, the tech giant said. The service, available only in the U.S., is provided by Green Dot Bank, which already limited what unverified accounts can do.
According to Apple, Green Dot requires identity verification for fraud protection and regulatory reasons.
Under Green Dot’s terms, unverified users already cannot send or receive more than $500 through person-to-person transfers. However, Apple noted that unverified users can still spend the money in their Apple Cash accounts with Apple Pay and transfer it to their bank accounts.
