{"id":357042,"date":"2023-06-06T07:40:04","date_gmt":"2023-06-06T11:40:04","guid":{"rendered":"https:\/\/www.sgtreport.com\/?p=357042"},"modified":"2023-06-06T01:04:25","modified_gmt":"2023-06-06T05:04:25","slug":"youre-keeping-our-life-savings-hostage-apple-customers-struggle-to-access-their-cash-one-month-after-the-tech-giant-launched-its-competitive-savings-account-with-goldman-sachs","status":"publish","type":"post","link":"https:\/\/www.sgtreport.com\/2023\/06\/youre-keeping-our-life-savings-hostage-apple-customers-struggle-to-access-their-cash-one-month-after-the-tech-giant-launched-its-competitive-savings-account-with-goldman-sachs\/","title":{"rendered":"&#8216;You&#8217;re keeping our life savings hostage!&#8217; Apple customers struggle to access their cash &#8211; one month after the tech giant launched its competitive savings account with Goldman Sachs"},"content":{"rendered":"<p><em>by Helena Kelly, <a href=\"https:\/\/www.dailymail.co.uk\/news\/article-12149359\/Apple-savings-account-customers-complain-access-cash.html\" target=\"_blank\" rel=\"noopener\">Daily Mail<\/a>:<\/em><\/p>\n<p><img decoding=\"async\" class=\"alignleft\" style=\"width: 132px;\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/06\/01\/18\/69926099-12149359-Last_month_iPhone_maker_Apple_unveiled_a_savings_account_that_wi-a-8_1685641285603.jpg\" alt=\"\" height=\"134\" \/><\/p>\n<ul class=\"mol-bullets-with-font\">\n<li class=\"class\"><strong>Apple&#8217;s savings account attracted $1billion worth of deposits in four days<\/strong><\/li>\n<li class=\"class\"><strong>But customers are now complaining they cannot access their funds\u00a0<\/strong><\/li>\n<li class=\"class\"><strong>Goldman Sachs said the issue affected a &#8216;limited&#8217; number of customers\u00a0<\/strong><\/li>\n<\/ul>\n<p><!--more Read More--> TRUTH LIVES on at\u00a0<a href=\"https:\/\/sgtreport.tv\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-auth=\"NotApplicable\">https:\/\/sgtreport.tv\/<\/a><\/p>\n<p class=\"mol-para-with-font\">Apple customers have complained they are struggling to access their savings &#8211; just over a month after it launched its high-yield account.<\/p>\n<p class=\"mol-para-with-font\">The tech giant made headlines\u00a0<span data-track-module=\"internal-body-link\"><a class=\"class\" href=\"https:\/\/www.dailymail.co.uk\/news\/article-11982577\/Apple-takes-banking-Tech-giant-launches-savings-account-4-15-rate.html\" target=\"_self\" rel=\"noopener\">when it unveiled its new savings product<\/a><\/span>\u00a0in partnership with Goldman Sachs that offers a 4.15 percent interest rate &#8211; around 10 times the average yield offered by mainstream banks.<\/p>\n<p class=\"mol-para-with-font\">Reports suggest it attracted as many as\u00a0<span data-track-module=\"internal-body-link\"><a class=\"class\" href=\"https:\/\/www.dailymail.co.uk\/news\/article-11982577\/Apple-takes-banking-Tech-giant-launches-savings-account-4-15-rate.html\" target=\"_self\" rel=\"noopener\">$1 billion in deposits<\/a><\/span>\u00a0four days after launching.<\/p>\n<div class=\"connatix-wrapper\">\n<p class=\"mol-para-with-font\">But now savers are reportedly having trouble accessing their funds &#8211; or transferring cash between accounts.<\/p>\n<p class=\"mol-para-with-font\">Nathan Thacker, who lives outside Atlanta, told the<a class=\"class\" href=\"https:\/\/www.wsj.com\/articles\/apple-savings-account-customers-say-its-hard-to-get-their-money-out-of-goldman-sachs-bd8b9ccb?mod=hp_lead_pos3\" target=\"_blank\" rel=\"nofollow noreferrer noopener\">\u00a0Wall Street Journal<\/a>\u00a0he had been trying and failing to transfer $1,700 from his Apple account to JPMorgan Chase since May 15.<\/p>\n<div class=\"mol-img\">\n<div class=\"image-wrap fff-pic\"><img loading=\"lazy\" decoding=\"async\" id=\"i-965183f5256c0966\" class=\"blkBorder img-share b-loaded\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/06\/01\/18\/69926099-12149359-Last_month_iPhone_maker_Apple_unveiled_a_savings_account_that_wi-a-8_1685641285603.jpg\" alt=\"Last month, iPhone maker Apple unveiled a savings account that will pay a 4.15 percent yield for Apple Card users\" width=\"634\" height=\"645\" data-gallery-handler-attached=\"true\" \/><\/div>\n<div class=\"container-3zJLP vertical-2XJd5\">\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<p class=\"imageCaption\">Apple&#8217;s\u00a0new high-yield savings account drew in in nearly $1 billion deposits in its first four days, sources said<\/p>\n<p class=\"mol-para-with-font\">Each time he contacted Goldman Sachs&#8217; customer service department, he was told to wait a few days. He only received the funds after the\u00a0<a class=\"class\" href=\"https:\/\/www.wsj.com\/articles\/apple-savings-account-customers-say-its-hard-to-get-their-money-out-of-goldman-sachs-bd8b9ccb?mod=hp_lead_pos3\" target=\"_blank\" rel=\"nofollow noreferrer noopener\">WSJ<\/a>\u00a0intervened.<\/p>\n<p class=\"mol-para-with-font\">Social media is littered with similar stories of savers unable to get their hands on their money.<\/p>\n<p class=\"mol-para-with-font\">Kevin Smyth, from Minnesota, tweeted Apple Chief Executive Tim Cook last week and wrote: &#8216;Was your plan to partner with a bank that holds people\u2019s life savings hostage?&#8217;<\/p>\n<p class=\"mol-para-with-font\">Smyth had been trying to transfer $10,000 from his Apple account to US Bank on May 16.<\/p>\n<p class=\"mol-para-with-font\">Although Goldman Sachs has since resolved the issue, Smyth has decided to drain his $200,000 savings from his Apple account and moved it back to American Express.<\/p>\n<p class=\"mol-para-with-font\">Another Twitter user wrote: &#8216;Do not setup direct deposit using savings account by Apple.<\/p>\n<p class=\"mol-para-with-font\">&#8216;You may not see that money for 3-4 weeks based on my experience. Let them have the nickels and dimes and nothing else.&#8217;<\/p>\n<p class=\"mol-para-with-font\">The\u00a0<a class=\"class\" href=\"https:\/\/www.wsj.com\/articles\/apple-savings-account-customers-say-its-hard-to-get-their-money-out-of-goldman-sachs-bd8b9ccb?mod=hp_lead_pos3\" target=\"_blank\" rel=\"nofollow noreferrer noopener\">Wall Street Journal\u00a0<\/a>reported that some customers saw their money vanish as it was removed from their Apple account but did not make it to the bank they were trying to transfer it to.<\/p>\n<p class=\"mol-para-with-font\">Goldman Sachs said the difficulties were being faced by a &#8216;limited&#8217; number of customers. It added delays were often due to rigorous processes designed to protect users.<\/p>\n<p class=\"mol-para-with-font\">Apple&#8217;s savings account\u00a0is only available to those who use its credit card, Apple Card.<\/p>\n<p class=\"mol-para-with-font\">Customers can open one in less than a minute directly from their iPhone and there is no minimum balance requirement.<\/p>\n<p class=\"mol-para-with-font\">It is also fee-free and offers a maximum balance of $250,000. And savers are free to access their money at any time &#8211; unlike many mainstream accounts which limit customers to six cash withdrawals a year.<\/p>\n<\/div>\n<p><a href=\"https:\/\/www.dailymail.co.uk\/news\/article-12149359\/Apple-savings-account-customers-complain-access-cash.html\" target=\"_blank\" rel=\"noopener\"><strong>Read More @ DailyMail.co.uk<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>by Helena Kelly, Daily Mail: Apple&#8217;s savings account attracted $1billion worth of deposits in four days But customers are now complaining they cannot access their funds\u00a0 Goldman Sachs said the issue affected a &#8216;limited&#8217; number of customers\u00a0<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[153897,153905,153896,153899,126466],"tags":[156311],"_links":{"self":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts\/357042"}],"collection":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/comments?post=357042"}],"version-history":[{"count":2,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts\/357042\/revisions"}],"predecessor-version":[{"id":357044,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts\/357042\/revisions\/357044"}],"wp:attachment":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/media?parent=357042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/categories?post=357042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/tags?post=357042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}