Apple Cash disappeared. Balance Adjustment to $0.

No reference to abandoned or inactivity timeframe in Apple Cash Terms and conditions.

Wallet

Click on Apple Cash

Inside circle with dots upper right, select "Card Details".

Bottom of Card Details is a link to "Terms and Conditions"

The only "inactivity" reference is $0 fee for inactivity.

No reference to abandoned or inactivity timeframe.

Impressive credentials Jeff! I don't think I made my point. This is not against the abandoned funds state and federal laws applicable to prepaid debit cards or GreenDot. It is against lack of Apple communications.

Money should not disappear from my account without telling me and then masking the withdrawal and description. Apple Cash actually being a GreenDot prepaid debit card controlled by state and federal laws was also not self evident. I expected more up-front information from Apple. "Buyer beware" never entered my idea of dealing with Apple. I should not need to review state and federal prepaid debit card laws to deal with Apple, (Terms and Conditions would not have helped), and even if I did, the "abandoned" money withdrawal process should not happen behind my back. That is the issue. The hidden process is just slimy.

If I was told in advance my account was suffering from inactivity, I would have taken steps.

If I was told the money was taken because it was abandoned, and the steps I need to take to correct, that is frustrating, but I still move forward.

I accidentally found the money was gone when I was adding an additional card. That hidden process is the issue. Just found the money was gone.

Actually, I have an MBA. Sorry.

This is an issue of funds being confiscated without warning, explanation, and inactivity and abandonment not referenced in any way in Apple Cash Terms and Conditions other than to indicate $0 charge.

To be better informed in the future, you should first read Apple's own Apple Cash Terms and Conditions link on the Apple Cash details page. I put details of how to get there in another post.

Basically, this is not a problem with what should be done with abandoned funds , which is what I think your banking regulation is referencing. This is an issue about communication - no warning, no explanation, no reference in Terms and Conditions - for an Apple Wallet with bank links used multiple times a month for many many years.

The problem was found. Apple is refunding money. Even though I had used ApplePay every day with each charge automatically paid immediately by my bank checking, I had excess cash sitting in the Apple pay account paid to me years ago (years is key here). I left it there for emergencies - like having some cash folded tucked in a wallet - ahhh leave it in your wallet. The ApplePay Agreement said "no fees" for any of the uses I used (yeah, I actually read the agreements - a sickness). To my surprise, the cash sitting in ApplePay was TAKEN due to "INACTIVITY". All the money there was taken, because it sat idle too long. This took a lot of phone calls to determine. The issues I had were no warning or email - I would have just transferred it to my bank, the charge was just labeled "Adjustment" so I had no idea why it went away. Combined with no mention of this fee in the agreement that I agreed to. It was just slimy. Months later and tons of paperwork, I am still waiting for the refund. I'll sure I'll get it, but not holding my breath in the mean time. Apple has changed their ApplePay user Agreement. You and everyone else using ApplePay was notified when that happened. No one noticed or cared. But now someone else will know why their ApplePay cash disappeared called "ADJUSTMENT". If it does, call and complain, and it will be resolved.

It is not the State rules about dormant funds that I have a problem with. It is everything up to that point that Apple controls. 1) I was not informed. Apple pay was used almost everyday for transactions, with receipt emails that I received within minutes (impressive indeed). Yet, no information/emails that the excess cash was not part of a very active account, and no information that the excess funds were at risk of being seen as "dormant", (something that is known by Apple/Apple-controlled-representative, or it would not be reported to the State). That warning along with an excerpt from the ApplePay agreement that describes that rule along with a pointer to the section. That is the type of Apple-way, completeness, and professionalism I have come to expect and use as a standard for all the other companies I deal with day to day. 2) Hidden description of withdrawal: "Adjustment". Again, an Apple communication issue that could have just as easily said exactly what happened (should not have gotten to this point, but...), like "Adjustment due to inactivity" along with links and procedures to resolve. These is/was the professionalism I would have expected from Apple. And after the fact, once the poor communication was identified, the entire process of just sending emails with information and changing the charge description should have happened immediately. Nope. Some words were changed in the ApplePay user agreement. 

... and one more thing, I did not know Apple Cash was actually a GreenDot Prepaid Debit card.

My bad for not reading the Apple Cash's Terms and Conditions before there was a problem, but still .... really!? .... a GreenDot Prepaid Debit Card!