Apple Card Customers Struggle to Access Funds from Savings Account
According to reports, Apple Card users who deposited over $1,000,000,000 within a few weeks are encountering difficulties when attempting to withdraw their funds.
In mid-April, Apple collaborated with financial giant Goldman Sachs to offer interest-earning savings accounts to Apple Card users.
However, customers are now facing various issues accessing their funds. Some claim it took an extended period to transfer money from their Apple savings account to another bank.
In contrast, others report that their funds do not appear in either their Apple savings account or the intended destination bank.
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Kevin Smyth’s case is highlighted, as he experienced a delay when attempting to transfer $10,000 to another bank. Goldman Sachs informed him that his account was under security review.
While Goldman Sachs states that the majority of customers experience seamless transactions, a small number may encounter delays due to protective measures in place.
Apple’s savings account boasts an annual percentage yield (APY) of 4.15%, ten times the national average.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
