Apple Cash: who holds your money
Apple Payments Services LLC
Apple Cash is not a bank. Apple Cash says customer money is held at Green Dot Bank DBA Bonneville Bank, with insurance reaching customers as pass-through FDIC insurance at the partner bank, subject to the app's recordkeeping. We read this information in the app's own public disclosure on September 5, 2026, and this page quotes that disclosure below. You can check each partner bank's own page on this site.
Apple Cash is not a chartered bank, and customer money sits at Green Dot Bank DBA Bonneville Bank, rated letter A. Deposit insurance passes through from that bank to each customer, provided Apple Cash’s records identify each customer. The limit is $250,000 per depositor, per insured bank, for each account ownership category. This reflects Apple Cash’s disclosure read September 5, 2026.
Partner banks
- Green Dot Bank DBA Bonneville BankFDIC #22653 · program bank3.7%above the insured limitA96.2
The figure is the share of total bank deposits above the $250,000 federal insurance limit, reported quarterly to the FDIC. High shares are normal for banks holding large app program balances. They do not mean your balance is uninsured: pass-through insurance usually covers customers individually at the partner bank. Across US banks in 2022 to 2026, those above roughly 36% saw large quarterly total deposit declines more often than those below. Most banks above that level saw no such fall. This measures deposit movement and does not predict trouble for any bank.
Disclosure
Apple Cash services are provided by Green Dot Bank, Member FDIC. Apple Payments Services LLC, a subsidiary of Apple Inc., is a service provider of Green Dot Bank for Apple Cash accounts. Neither Apple Inc. nor Apple Payments Services LLC is a bank.
www.apple.com · as of September 5, 2026
Disclosure names the bank but not the insurance mechanism; classified pass-through because the account is opened through the app, not directly with the bank.