Apple Card Savings Users Are Unable To Withdraw Their Funds, Some Are Reportedly Waiting Weeks For Transfers To Be Completed

wccftech.com:

Some Apple Card Savings account users are experiencing headache-inducing problems with the service as they are unable to complete their transfers, according to the latest report. Even though Apple managed to attract its user base by implementing a ‘simple to use’ method to add money, the issue comes with withdrawing those funds.

Though Apple lured customers to switch to its savings account with a 4.15 percent APY, that point of attraction will eventually fade if they continue to face problems with funds transfer. According to The Wall Street Journal, some users claim that it is taking a few weeks for the transfers to complete. One Apple Card Savings account user, Nathan Thacker informed the publication that he has been attempting to withdraw $1,700 from the savings account to the JPMorgan Chase account since May 15.

As AppleInsider reports, upon calling Goldman Sach’s customer service, he was informed that his funds would be transferred to his account after a few days. At the time of writing, it took more than two weeks for Thacker to receive this money, with the transaction completed on June 1. However, this is an alarming situation, especially during an emergency, where having instant access to funds is necessary.

Another Apple Card Savings account user, Kevin Smyth, said he was met with a security review when he tried transferring $10,000 from his savings account to a different one on May 16. The review can take multiple business days to complete, meaning that hundreds of users might be left ‘high and dry,’ with no way to access their funds. The WSJ report states that Goldman Sachs has gone on record, talking about these issues. The bank states that typically, users should not experience delays.

However, the ones that