Unable to transfer funds to Apple Savings account after adding external bank account.

Yes, I tried to link up my savings account to my Apple savings since I try to avoid keeping too much cash in debit. My debit/checking account linked pretty quickly too, but there are issues trying to link savings accounts to the apple savings account... Who knows why?

I did exactly what you said and was able to transfer money from my bank account into Apple Savings. However, when I tried to transfer FROM Apple Savings to my bank account I got a message stating I had to verify my ID. That involved a 2-hour wait on hold with Goldman Sachs (877-255-5923) who then connected my bank rep on a three-way call so GS could verify my identity with my bank rep. Then everything worked. What a hassle and pain in the butt. I did learn later that if you call Apple Support directly at 512-884-5022, they can connect you directly with GS without the horrendous wait time. If that number doesn't work, try 877-255-5923. There is only a short wait time with Apple support. If I had I to sign up for all this Apple stuff again, it would definitely be a big NO-NO-No for me. Oh, and one more thing. Their marketing BS clearly states that signing up for Apple Card (GS MC) will not affect your credit score. WRONG. Mine immediately dropped 30 points and my husband's dropped 25 points. We both previously had scores over 800 so this was a shock. I mentioned this to GS and they said, "Oh, that wasn't supposed to happen; we don't know why." GRRRRRR

It depends if your external account does push transfers (external account to Apple Savings) and pull transfers (Apple Savings to external account). I set that up through my external accounts when using their verification process. I can confirm it works for me and I have accounts with several large banks.

The issues occur when you try to have Goldman Sachs push a transfer to your external account.

Last Friday, I was on the phone with GS for a couple hours. I went through the whole process of waiting on hold for >45 minutes, waiting while GS spoke with my local bank rep to verify my accounts, and was finally told that my accounts should be verified and usable from the Wallet app by no later than Tuesday. Tuesday came and went with no change.

This Friday, I received an email from Apple Card | Savings Support (GS) saying:

”A Savings Account Specialist at Goldman Sachs tried to reach you but was unable to do so. Please call us at 1-877-255-5923 or chat with us in Wallet.”

However, I had no email, messages or missed calls from them.

Since I was busy and could not call back, I responded via chat in the Wallet app to ask about this and the status of my accounts. The rep told me I would need to call in. I explained that I already did this a week ago and asked if they knew what happened. I said I did not have time to sit on hold for another hour and asked whether they could schedule a time to call me. The rep gave no explanation for why the first call was ineffective and said they don’t do callbacks, and that there is no way to avoid the long hold time.

I said that I found this whole experience to be very frustrating and I was starting to regret enrolling in Apple Savings.

They said they understood my frustration but the only way to resolve the problem is to call again. Maybe I’ll try again when I have a couple of hours to burn.

This is really an extremely poor experience. The chat feature is currently a huge waste of time. Apple really needs to step in and make GS get their act together.

(Sorry, I didn’t mean for this to be a direct reply to the message above, but I do not see any way to delete and re-post it.)

5 business days was 12 for me. My account was verified. This happened last month-May 2023. I am an optimist and thought all those calls solved the issue so I went to make another transfer this month to my external account ...and guess what? It was declined...again. I called and sat on hold. It is being "escalated" up the chain. Meanwhile my bills remain unpaid on time for the second month in a row. I am really upset. I did not open a CD but a Savings Account and yet I cannot access my cash. Surely this cannot be legal?

I did the three way call with my bank and Apple/GS to verify. If there was still some problem one would think it would have been identified at that time? As I advised Apple/GS just now when they cited security protocols to "protect" me and my account...they have never-not even once-declined an apple charge on my credit card, but they have yet to do an on time worry free no hassle transfer from savings to my external checking account. I think I have had it frankly and will be working on the eternity I fear it will take to close my account, report them and open an account elsewhere.

It’s not plain crazy, it’s Federal Law and your complaint will go unread. You transferred money to a brand new account and then turned around and tried to transfer it somewhere else. That’s a classic symptom of money laundering and Federal Law requires the 90 day waiting period to transfer the money anywhere else but the account it come from. It’s not Goldman Sachs policy, it’s the law.

It IS legal and right, you just don’t know banking laws. We’ve been over and over with this in other post threads with other users. It’s been discussed on the various tech blog since day one.

Yes, that’s correct and procedure currently being used to verify external accounts. You can also transfer funds from Apple Savings to Apple Cash instantly (no fees) and then to your external checking or savings account. There is a limit of $10,000 per transfer and no more than $20,000 in any 7 day rolling period. Larger or more frequent transfer require ACH transfer and may take up to 6 business days while you Apple Savings account is new. This information is contained in the Terms & Conditions that you agreed to when you opened your account.

It sounds like you’re not familiar with High Yield Savings Accounts (HYSA). They differed in federal banking regulations and are generally limited in many ways when compared to a regular personal (low interest) savings accounts. HYSA are meant to accumulate wealth, not for distribution of wealth.

Just one. The email address I use for apple is different from my banks

Yes, that’s the number. Be prepared to be on hold for an hour or more

Account remains unverified. Waited on hold two hours to subsequently be disconnected after a few words with a customer service rep.

Some smaller, more local banks do not allow their accounts to be setup in Apple Pay some larger FinTechs do not participate in Apple Pay either. Please verify the checking account with your issuing institution about compatibility with Apple Pay and Apple Wallet.

Only your Apple iPhone will request your Apple ID/iCloud account information. Third party banks will require their own passwords. It’s possible that the emails address you used for your Apple ID is the same as the email you used for your bank. It’s not a best practice to use the same password for different accounts.

You have setup your Bank information in your Wallet Accounts. It should look like this to transfer funds into your Apple Savings Account.

Above photo is Wallet app > Apple Card > Savings Account > Above photo

Above photo is tap Add Money > type dollar amount > above photo

Above photo is Lower Arrow is tap arrow to change account to desired bank account. Second arrow is double click the power button on left side of iPhone. Transfers complete within 5 business days.

If you see an error, please post below in exact words.