I was trying to transfer money from Apple Cash to an online bank account I’ve been using for several years. The transaction was declined and Restricted Merchant was the reason given.
iPhone 14, iOS 17
You might want to review this recent article
https://www.ft.com/content/2faf1799-78d9-4316-8e1d-590d2c601ac6
They’ve had lot of allegations and issues about money laundering. US banks, real federally regulated banks, not a FinTech, are very leery of having financial dealings with them.
Real banks can refuse transactions with merchants that violate the terms and conditions of their accounts.
https://applecash.greendot.com/termsconditions/
It only takes one bad transaction for your Apple Cash account to be locked, and funds restricted, forever.
Apple Cash is trying to forewarn you of activities that may permanently close your account. Even sending funds to a bank could result in negative actions on an account.
Doesn’t sound like a bank. What’s the name of the >bank<?
Revolut. Totally legit been using them for years.
Thanks. The thing is I’ve been transferring money to them for 3 of 4 years.
A paywall of course.
What is a “Restricted Merchant?” I tried to transfer money, was declined, and this was the reason given.
