Apple Card Savings account customers facing multi-week delays transferring funds
Apple and its banking partner Goldman Sachs are coming under fire as users are starting complaining about multi-week delays when transferring money from the recently launched Apple Card Savings account feature on iPhone, offering a high-yield APY of 4.15 percent for users saving with their Apple banking card.
The Wall Street Journal reports that one customer had been trying to transfer $1,700 from his Apple Card Savings account to a separate bank account since May 15, and each time he called Goldman’s customer service department, he was told to give it a few more days, resulting in a multi-week wait to receive his money.
In other instances, some customers have said that upon initiating a transfer, the money disappears all together, with one user loosing access to $10,000 as the money was flagged for security review, leaving it in limbo until the review was completed.
It was reported that four days after the launch of the Apple Card Savings account feature, users had deposited almost $1 billion into the service, which remains exclusive to users in the US where the Apple Card is available.
Neither Apple or its banking partner Goldman Sachs have yet commented on the user complaints.