Starting on October 4, Apple will require that ‌iPhone‌ and Apple Watch users verify their identity to send more than a total of $500 in peer-to-peer transfers, which includes sending Apple Cash via Messages and making Tap to Cash payments. Identity verification is required whether sending money from an Apple Cash balance or from a supported card in the Wallet app. Prior transactions will count toward the limit that will trigger identity verification.

Apple already requires identity verification for Apple Cash for those who use the feature frequently. Apple's support document says that users cannot add or receive $500 or more in total without identity verification, so it sounds like verification will also be required when sending large amounts of money as of October.

Identify verification for Apple Cash involves taking photos of a driver's license or ID card, as well as answering personal history questions and providing information like home address, date of birth, and social security number.