The problem is that is not remotely what this is about. Because of Apple’s obsession with secrecy, they’ve approached customer support for financial services in the exact same way they do for their hardware and software. The Tier 1 and Tier 2 agents, per Apple’s instructions, can only provide information from pre-written scripts. It is only if you can get to Tier 3 (Apple Card Managers) that you can get a non-scripted answer. This is by design, to maximize secrecy. That simply doesn’t work when it comes to finances. Any explanations of “federal law” are non sequitors, because GS was able to give a specific answer to the WSJ and at least one person in the story was not subject to increased security. Apple simply needs to do better.
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Apple Savings Users Complain of Delays Withdrawing Money
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I’ve read this entire thread and your continue regurgitation of this is exhausting and simply the reality of the current process. However, it could be worse per the terms and conditions;
“NOTICE OF WITHDRAWAL - We reserve the right to require you to notify us in writing seven days before a withdrawal is made from your Account.”
So IF we really want to nitpick there’s even more hoops a customer should have had to jump through. Right or wrong/good or bad customer service, this is how the process is as of now. In all these customer instances the issues were resolved albeit with some waiting but this process is only 2 months old and Apple has input themselves as the middleman just like with the Apple card. After awhile things smoothed out with the card and customer service became better.
This is exactly why I’m only using it for the Daily Cash I earn from my Apple Card.
That is another non sequitor. We’re talking about what GS did, not what they potentially could do. The issue is that, because of Apple’s approach to customer service, customers got misinformation, until the media got involved. That is simply unacceptable. Apple needs to do better.
Yep! Put the bank routing info and account number as one of the payment accounts. I’ve done this. It works.
Account Details —> Routing Number
Beautiful, thank you for the workaround!! Will give this a shot. I’m surprised the process is not more streamlined
I did an experiment, transferring between apple savings and my regular checking account. Once a week I transferred between them. The first 3 went fine, by the 4th week the transfer has been stuck for a 6 days at this point (this is between the same account). So the delays are not due to it being transferred to a previously unknown account.
Thankfully I've only needed to transfer <= $1000. Doing so to Apple Cash has been instant (and to my bank from Apple Cash, as long as early enough in the day, the same day for $0.00).
But yes, transferring to/from bank directly can take half a week or more...
But yes, transferring to/from bank directly can take half a week or more...
Apple is likely to be the last to do this. The 4.15% is a 1,000 times better than what I was getting from my bank.
Interesting.
I didn't get that notice and my account is still showing 4.15%.
I'm in the USA.
Yep, in a standard savings account.
I've been putting some savings in a CD and getting a better rate of 4.5% and 5%.
That notice was from American Express, not Apple. The OP was saying Apple/Goldman better up their rates.
OOOOOoooooh.
Thanks for clarifying that before I called up Apple/Goldman and started raving and ranting 🤣