Apple Savings Users Complain of Delays Withdrawing Money

Apple Card customers who have opted to create a high-yield Apple Savings account through Goldman Sachs have been experiencing issues attempting to withdraw their money, according to a report from The Wall Street Journal.

apple card savings account
Multiple customers who transferred thousands of dollars to the Apple Savings account have had to wait weeks for money transfers in some cases, and some customers have also had money disappear. Kevin Smyth from Minnesota, for example, attempted to transfer $10,000 from his Apple account to U.S. Bank in mid-May, but Goldman Sachs would not complete the transfer.

Customer representatives suggested he contact U.S. Bank, but U.S. Bank said there was no incoming transaction. Later, he was told that Goldman Sachs had placed his account under a security review. Another customer, Nathan Thacker of Atlanta, tried to transfer $17,000 from his Apple Savings account to JPMorgan Chase on May 15, and it took more than two weeks for the transaction to complete.

In a statement to The Wall Street Journal, Goldman Sachs said some customers had experienced delays due to security processes designed to protect customer deposits.

"The customer response to the new savings account for Apple Card users has been excellent and beyond our expectations. While the vast majority of customers see no delays in transferring their funds, in a limited number of cases, a user may experience a delayed transfer due to processes in place designed to help protect their accounts."

According to The ‌Wall Street Journal‌, transferring large amounts of money that make up much of a newly-opened account's balance can trigger anti-money-laundering alerts, resulting in delays that last around five days. Some of the issues may be caused by the newness of the Savings account.

Apple Savings account users who have had issues and who have contacted Goldman Sachs have said that the customer service has been poor, with customers receiving varying information with each call.

Opening a high-yield Apple Savings account requires an ‌Apple Card‌, and it offers a competitive 4.15 percent interest rate. Opening up a new savings account takes just minutes to do, and it is also designed to aggregate all Daily Cash earned through the ‌Apple Card‌.

Popular Stories

AirPods Pro 3 Mock Feature

AirPods Pro 3 Just Months Away – Here's What We Know

Friday April 18, 2025 5:16 am PDT by
Despite being more than two years old, Apple's AirPods Pro 2 still dominate the premium wireless‑earbud space, thanks to a potent mix of top‑tier audio, class‑leading noise cancellation, and Apple's habit of delivering major new features through software updates. With AirPods Pro 3 widely expected to arrive in 2025, prospective buyers now face a familiar dilemma: snap up the proven...
iphone 17 air dummy unbox therapy

iPhone 17 Air's Extreme Thinness Demoed in New Video

Tuesday April 22, 2025 10:22 am PDT by
Apple plans to release an all-new super thin iPhone this year, debuting it alongside the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max. We've seen pictures of dummy models, cases, and renders with the design, but Lewis Hilsenteger of Unbox Therapy today showed off newer dummy models that give us a better idea of just how thin the "iPhone 17 Air" will be. The iPhone 17 Air is expected to be ...
iphone 17 dummies sonny dickson

iPhone 17 Air Almost as Thin as Its Buttons, New Images Show

Thursday April 24, 2025 2:14 am PDT by
If you missed the video showing dummy models of Apple's all-new super thin iPhone 17 Air that's expected later this year, Sonny Dickson this morning shared some further images of the device in close alignment with the other dummy models in the iPhone 17 lineup, indicating just how thin it is likely to be in comparison. The iPhone 17 Air is expected to be around 5.5mm thick – with a thicker ...
ipad air windows 11 arm

M2 iPad Air Runs Windows 11 ARM via Emulation, Thanks to EU Rules

Tuesday April 22, 2025 5:01 am PDT by
A developer has demonstrated Windows 11 ARM running on an M2 iPad Air using emulation, which has become much easier since the EU's Digital Markets Act (DMA) regulations came into effect. As spotted by Windows Latest, NTDev shared an instance of the emulation on social media and posted a video on YouTube (embedded below) demonstrating it in action. The achievement relies on new EU regulatory...
iPhone 17 Pro Blue Feature Tighter Crop

iPhone 17 Pro Launching Later This Year With These 13 New Features

Wednesday April 23, 2025 8:31 am PDT by
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices. Below, we recap key changes rumored for the iPhone 17 Pro models as of April 2025: Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone ...
iphone 16 pro models 1

17 Reasons to Wait for the iPhone 17

Thursday April 17, 2025 4:12 am PDT by
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models simultaneously, which is why we often get rumored features months ahead of launch. The iPhone 17 series is no different, and we already have a good idea of what to expect from Apple's 2025 smartphone lineup. If you skipped the iPhone...
iOS 18

iOS 18.5 Includes Only a Few Changes So Far

Monday April 21, 2025 11:00 am PDT by
Apple seeded the third beta of iOS 18.5 to developers today, and so far the software update includes only a few minor changes. The changes are in the Mail and Settings apps. In the Mail app, you can now easily turn off contact photos directly within the app, by tapping on the circle with three dots in the top-right corner. In the Settings app, AppleCare+ coverage information is more...
iPhone 17 Air Pastel Feature

iPhone 17 Air Launching Later This Year With These 16 New Features

Thursday April 24, 2025 8:24 am PDT by
While the so-called "iPhone 17 Air" is not expected to launch until September, there are already plenty of rumors about the ultra-thin device. Overall, the iPhone 17 Air sounds like a mixed bag. While the device is expected to have an impressively thin and light design, rumors indicate it will have some compromises compared to iPhone 17 Pro models, including only a single rear camera, a...

Top Rated Comments

technopaul Avatar
25 months ago
Goldman called me earlier this week (on Memorial Day actually!) to inform me they were cancelling a withdraw because I didn't transfer the money back to the account it originated from. It had been sitting on pending in the Apple Savings app for 6 days. The agent said it was only his second time making this kind of call and cited a 90 day hold on new accounts transferring money to accounts outside of where the money was deposited from originally. Once he cancelled the previous withdrawal I initiated a new withdrawal to the original account and it took less than 1 business day to arrive. I hope this helps.
Score: 21 Votes (Like | Disagree)
no_idea Avatar
25 months ago
Thanks early gen 1 adopters. I’m waiting for the gen 3 savings pro max
Score: 20 Votes (Like | Disagree)
vegetassj4 Avatar
25 months ago
Ahem...*cough*...*cough*


Savings? What savings? I can see it now.


https://forums.macrumors.com/threads/apple-card-savings-account-available-starting-today-with-4-15-interest-rate.2387038/post-32104076



Attachment Image
Score: 18 Votes (Like | Disagree)
Andres Cantu Avatar
25 months ago
Stopped reading at “Apple users complain” ?
Score: 17 Votes (Like | Disagree)
Ethosik Avatar
25 months ago

Wow, good to know. I was planning to transfer a large amount next week.
This is a terrible PR issue if it's widespread. Get you sh.t together Apple and put your weight on GS to make things right.
It’s not really Apple or GS. These protections are in place in a lot of areas. Which is why I keep my transactions below $10,000.
Score: 14 Votes (Like | Disagree)
Ethosik Avatar
25 months ago

Stick to real banks, folks. Don't put your life savings in stuff like this.
Happens with real banks too. Happened to me years ago when I transferred $15,000.
Score: 12 Votes (Like | Disagree)