Apple Cash Family: How to Set It Up and Use It

If your children ever ask you about money, withdrawing cash frequently may not be a good idea for you. If your kids are young, you might not want to get them a credit or debit card. But if you have Apple devices, you can set up Apple Cash Family.

What is Apple Cash Family?

Apple Cash Family allows parents and children to send and receive money and make purchases through Apple Cash. This feature combines Apple’s Family Sharing and Apple Cash features available through its devices.

Family Sharing allows a family unit of up to six people to share App Store purchases and iCloud storage. Instead of using one login with many different devices and people, Family Sharing lets you set up permissions for children and give them their own sign-in. You can approve things like screen time, app purchases, and downloads.

The person who sets up Family Sharing is the “family organizer.” As the family organizer, you can invite family members through their Apple IDs to join your Family Sharing plan before setting up Apple Cash Family.

Apple Cash is a cash management account that can send and receive money through the Messages app, and it’s a payment option when using Apple Pay. If you connect your card to a bank account, you can transfer money to and from your Apple Cash card as needed.

Apple Cash Family combines these two features to provide a way for parents to send money to their children in a monitored account.

How to set up Apple Cash Family?

If you’re ready to move to Apple Cash Family, you’ll need to complete a few steps first.

Ensure device compatibility

To use Apple Cash Family, each family member must have a device compatible with Apple Pay, which includes:

• iPhones with Touch ID (excluding iPhone 5s) and Face ID
• All iPad models with Touch ID or Face ID
• Apple Watch (Series 1, 2, or later) and 1st generation Apple Watches
• Macs with Touch ID, models from 2012 or later

Note: The minimum system requirements for Apple Cash Family devices are iOS 11.2 and watchOS 4.2 or later.

Set up Family Sharing

The family organizer sets up Family Sharing by tapping on Settings and then Family Sharing on mobile devices, or by clicking on Family Sharing in the System Preferences menu on your Mac.

Once Family Sharing is set up, all family members will need to sign in to their devices using their Apple IDs and then enable two-factor authentication.

Since Apple Cash Family is only available in the United States, each family member will need to set their region to the United States.

Note: At least one person in your Apple Cash Family group must be under the age of 18.

Set up Apple Cash for kids

If you’re the family organizer, go to Settings, tap your name at the top, and then select Family Sharing.

From there, select Apple Cash, then choose the family member you want to add. Select Set Up Apple Cash and follow the on-screen instructions to complete the process.

Once finished, Family Sharing and Apple Cash will be integrated, and your Apple Cash Family will be ready to use.

Note: Only the family organizer can set up Apple Cash Family, and the same Apple ID used to set up Family Sharing must be used to set up Apple Cash Family.

How to use Apple Cash Family?

Once you’ve added your family to your Apple Cash Family, you can manage Apple Cash for everyone through your Wallet.

Open

Open your Wallet app and tap on your Apple Cash card. Tap the “more” button (the three-dot icon) and then go to your child’s name. From here, you have access to a variety of tools that help you monitor and organize your child’s spending, including:

• Reviewing their transactions
• Sending money
• Locking their access to Apple Cash
• Choosing who they can send money to (family members, contacts, or everyone)
• Receiving notifications when they make a certain transaction

If you are a parent and not the organizer but belong to the family group, you can view your child’s transactions and balance but cannot change their permissions and access.

Children and teens can use Apple Cash in a way that’s similar to adults: for online purchases, in stores, and through apps that support Apple Cash. Children aged 13 and above can also send and receive money through Messages.

Pros and Cons of Apple Cash Family

Pros

• Controlled access to money
• Reviewing children’s transactions and funds
• Teaching kids a little about money

Cons

• Available only in the United States
• Not all merchants accept Apple Pay

Explained pros:

• Controlled access to money: Instead of carrying cash and credit cards (possibly your credit cards), children have money on their phones. If they lose it or it’s stolen, hackers will find it difficult to access it thanks to two-factor authentication. You can remove access at any time, designate where they can send money, and how they can spend it.
• Reviewing children’s transactions and funds: You can see where your child spends money, who they send money to, and receive notifications every time your child makes a certain transaction.
• Teaching kids a little about money: Think of Apple Cash like your child’s virtual piggy bank. If they receive an allowance, you can keep it in Apple Cash, and they can spend it as they wish. They will learn that when the money runs out, it’s gone. While it’s not the same as spending real cash and having empty pockets, seeing an empty account has a strong impact, even on adults.

Explained cons:

• Available only in the United States: If you have relatives or family members living abroad, they won’t be able to participate in Apple Cash Family.
• Not all merchants accept Apple Pay: While you can use Apple Cash for specific Apple products and services (like the App Store and Apple Music, for example), you can also use it at millions of stores. However, not every store accepts Apple Pay. If you have stores you frequent and want to use Apple Cash, check if they accept it first and keep an alternative payment method handy just in case.

Alternatives to Apple Cash Family

While Apple Cash Family is a great option if you already have Apple devices, it may not be suitable for your family. There are several mobile payment apps you can try, including:

• Cash App
• Venmo
• Zelle
• Google Pay app
• PayPal
• Facebook Pay

These apps are good options for sending and receiving money, but they do not provide the ability to monitor transactions or lock accounts. Samsung Pay also has a Wallet version for some of its devices, but it does not offer a family plan like Apple Cash Family.

Key Takeaways

Apple Cash Family is ideal for families that already own iPhones or iPads or Apple Watches. You can set your family up using your iPhone or Mac, and as long as you’re the family organizer, you can manage your child’s account. Apple Cash Family can teach your child responsible spending and limit the use of cash and physical credit cards. Not every merchant and store accepts Apple Pay, which may limit your family’s use of Apple Cash.

Source:
https://www.thebalancemoney.com/apple-cash-family-how-to-set-it-up-and-use-it-5088930