Apple and Goldman Sachs Crediting Some Customers Who Had Long Waits for Savings Withdrawal Requests

Some customers who had a poor experience with their Apple Savings accounts handled by Goldman Sachs are receiving one-time credits, according to an email received from MacRumors reader Michael, who made a withdrawal in May.

goldman sachs email credit
"The experience we provided for a withdrawal request you made for your Savings account in May did not meet our standards," reads the email. As a thank you, Apple and Goldman Sachs informed Michael that he would be receiving a one-time "goodwill credit" of $100 to his savings account.

It is not clear how many Apple Savings users have received these credits, but the bonus likely stems from issues that some customers ran into over withdrawal waits.

In June, a report from The Wall Street Journal suggested that multiple Apple Card customers were having trouble withdrawing money from their accounts, which are handled by Goldman Sachs. Some customers who transferred thousands of dollars were waiting for weeks for their money.

Goldman Sachs in a statement said that the issues had come up due to security processes designed to protect customer accounts. It is possible that customers triggered anti-money laundering alerts by transferring large amounts of money into a newly opened account.

"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."

Affected customers complained of Goldman Sachs' customer service, indicating that they were receiving different information each time they called in to speak with the company.

Recent reports have suggested that Goldman Sachs is looking to end its partnership with Apple as it wants to cut back on its consumer business. Goldman Sachs is reportedly in talks with American Express about a potential takeover, but no deal has been reached.

Goldman Sachs recently extended its partnership with Apple through the end of the decade, but it has run into problems with the scale of Apple's business. Last year, for example, Goldman Sachs was subjected to an investigation by the U.S. Consumer Financial Protection Bureau after customers experienced long wait times for disputed transactions. Goldman Sachs was reportedly not prepared for the number of chargebacks that it had to deal with.

Apple uses Goldman Sachs for the ‌Apple Card‌, Apple Savings account, and Apple Pay Later features. Offered since April, the Apple Savings account is available to ‌Apple Card‌ holders, and it provides a 4.15 percent interest rate on Daily Cash and other deposits.

Popular Stories

iPhone 17 Pro 34ths Perspective

iPhone 17 Pro Launching Later This Year With These 10 New Features

Sunday March 23, 2025 10:00 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 March 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 ...
macbook pro blue green

When Will Apple Release the M5 MacBook Pro?

Wednesday March 26, 2025 4:53 pm PDT by
Apple regularly refreshes the MacBook Pro models, and a new version that uses M5 series chips is in the works. Apple just finished refreshing most of the Mac lineup with M4 chips, and now it's time for the M5. Rumors suggest that we could see the first M5 MacBook Pro models this fall. Design There have been no rumors of a design update for the M5 MacBook Pro models that are coming this...
iOS 18

iOS 18.4 Expected Next Week - Here Are the Release Notes

Friday March 28, 2025 2:01 pm PDT by
With the second release candidate of iOS 18.4 that Apple seeded out today, the company finally provided us with release notes that give a full rundown on what to expect. There's an Apple Vision Pro app, new Apple Intelligence features for notifications and additional language support, plus an Apple News Food feature for Apple News+ subscribers, and several updates that should improve the...
Facebook Feature

Facebook's New iPhone App Feature Turns the Clock Back to 2007

Thursday March 27, 2025 1:59 pm PDT by
In the mid-to-late 2000s, Facebook was all about staying connected with friends and family. However, as the social media platform added new features and grew over time, that core experience began to get drowned out. That changes starting now, according to Meta, which today introduced a new feature that will "bring back the joy" of classic Facebook. Specifically, Meta has redesigned the...
iOS 18 4 Ambient Music Control Center

How to Use iOS 18.4's New Ambient Music Feature in Control Center

Thursday March 27, 2025 7:45 am PDT by
The upcoming iOS 18.4 update for the iPhone adds an Ambient Music feature to Control Center. Below, we take a closer look at how it works. iOS 18.4 is currently in beta, so the Ambient Music feature is not widely available yet. The update will likely be released to the general public next week. To use the feature on iOS 18.4, open Control Center and tap on the plus sign in the top-left...
Foldable iPhone 2023 Feature 1

'iPhone Fold' to Feature Metallic Glass Hinge That Resists Deformation

Thursday March 27, 2025 4:21 am PDT by
Last week, we covered a report claiming that Apple's book-style foldable iPhone (or "iPhone Fold," as we are provisionally calling it here) will use liquid metal hinges to improve durability and help minimize screen creasing. Today, a Chinese leaker provided more details on the properties of this hinge material that help to clarify why Apple chose it for its first foldable device. According...
Magic Mouse Green

What to Expect From the Magic Mouse 3

Saturday March 29, 2025 10:15 am PDT by
Apple is reportedly working on a new Magic Mouse. Below, we recap what to expect. The two key rumors for the Magic Mouse 3 so far include a relocated charging port, along with a more ergonomic design. It was briefly rumored that the Magic Mouse 3 would also feature voice control, but that was misinterpreted information. Relocated Charging Port While the Magic Mouse switched from...
Foldable iPhone 2023 Feature Homescreen

Six Things to Know About Apple's Upcoming Foldable iPhone

Friday March 28, 2025 3:54 pm PDT by
We've been hearing rumors about a foldable iPhone for almost a decade now, but it looks like we might finally see the device come to fruition in 2026. We're going to be waiting many more months for the foldable iPhone, but so far we're hearing good things. Apple wants to make it creaseless. It's taken Apple multiple years to design a foldable iPhone that it's satisfied with because Apple ...
Apple Lumon Terminal Pro

Apple's Mac Site Features Fictional 'Lumon Terminal Pro'

Wednesday March 26, 2025 12:19 pm PDT by
Apple is going all out with promotions for the popular Severance Apple TV+ show today, and as of right now, you'll find a new "Lumon Terminal Pro" listed on Apple's Mac site. The Lumon Terminal Pro is designed to look similar to the machines that Severance employees like Mark S. and Helly R. use for macrodata refinement. The Terminal features a blue keyboard, a small display with wide...

Top Rated Comments

TheYayAreaLiving ?️ Avatar
22 months ago
$100 Credit- I still don't like Goldman Sachs. First and foremost, they need to work on providing excellent customer service.
Score: 10 Votes (Like | Disagree)
MallardDuck Avatar
22 months ago
Well, that's one way to fend off the class action.
Score: 10 Votes (Like | Disagree)
Zc456 Avatar
22 months ago

one-time "goodwill credit" of $100 to his savings account.
Goldman Sachs: "Here, buy a new iPhone case."
Score: 9 Votes (Like | Disagree)
AtomicDusk Avatar
22 months ago
Wow, that's a heck of a surprise for those who get it! :)
Score: 6 Votes (Like | Disagree)
FelixDerKater Avatar
22 months ago
I don't think I have ever heard goodwill and Goldman Sachs in the same sentence.
Score: 5 Votes (Like | Disagree)
KaliYoni Avatar
22 months ago

spending spree
Ha ha! At Apple, a hundred bucks gets you:

5 polishing cloths
or
1 MagSafe battery pack
or
0.57 of a Mac Pro wheel
Score: 5 Votes (Like | Disagree)