I tried to withdraw some funds from my apple savings and I can’t?
iPhone 11, iOS 16
That’s covered in the Apple Savings Deposit Agreement. You can find a copy of it in Savings Account section of your Apple Card in your Wallet app. You can find it in Account Details > Terms & Conditions.
Here is what the Deposit Agreement states about availability of funds.
>> Funds Availability
This section explains when deposits to your Account are available for withdrawal.
DELAYED AVAILABILITY
To the extent we accept a check, we may delay the availability of funds. During the delay, funds will not be available for withdrawal, but interest will accrue and be paid on the deposit.
DAY OF DEPOSIT
Except as otherwise described in this Agreement, if we receive a deposit before 9:30 pm ET on a Business Day, that Business Day will be the day of your deposit. If we receive a deposit after 9:30 pm ET on a Business Day or on a non-Business Day, the deposit will be considered received on the next Business Day.
AVAILABILITY OF ACH TRANSFERS
Funds received by ACH Transfer initiated through Apple Wallet from a linked external account will generally be available 5 Business Days after you initiate the ACH Transfer, but may be available earlier.
Funds received by ACH Transfer initiated from an external account to your Account will generally be available on the Business Day we post the deposit.
AVAILABILITY OF APPLE CASH TRANSFERS
Funds received by Apple Cash Transfer will typically be available the same calendar day you initiated the Apple Cash Transfer.
AVAILABILITY OF CHECK DEPOSITS
Accepted checks will be subject to the funds availability timelines outlined in this Availability of Check Deposits section.
Special Checks
For U.S. Treasury or other government checks, certified checks, teller checks, and cashier’s checks (“Special Checks”), up to $5,525 will be available the next Business Day after the day of deposit, and the remainder on the sixth Business Day after the day of deposit, unless an exception applies.
Other Check Deposits
For checks other than Special Checks, up to $225 will be available the next Business Day after the day of deposit, and up to $5,525 will be available on the second Business Day after the day of deposit, unless an exception applies. Any remaining funds will generally be available on the sixth Business Day after the day of deposit.
Exceptions
Funds you deposit by check may be delayed for a longer period if:
• You are a new customer;
• You deposit a single check or multiple checks totaling more than $5,525 on any one day;
• You redeposit a check that has been returned unpaid;
• Your Account is repeatedly overdrawn;
• We believe the deposit will not be paid; or
• There is a business interruption, such as failure of computer or communications equipment.
We will notify you for any of the above reasons and tell you when the funds will be made available, which is generally no later than the sixth Business Day after the day of deposit.
Page 9/15 Goldman Sachs Bank USA. Member FDIC.
New Customers
For purposes of this section, you are generally considered a new customer during the initial 30 calendar days after you make your first deposit in your first account you open with us. You will not generally be considered a new customer, however, if you already have an account open with us at the time you open a new account. For new customers depositing checks other than Special Checks, up to $225 will be available the next Business Day after the day of deposit and the remainder will be available on the sixth Business Day after the day of deposit, unless an exception applies.
We’ll consider a check deposit received on the day it arrives at the address for Check Deposits listed at the beginning of this Agreement subject to the above availability of funds. <<
If you need additional assistance please contact Goldman Sachs Bank.
CONTACTING — Goldman Sachs Bank
Using Messages; chat with an Apple Card specialist
Call toll-free at 877-255-5923; or
Write to: Goldman Sachs Bank, Lockbox 6112, P.O. Box 7247, Philadelphia, PA 19170-6112.
I suspect it’s a limitation of time requirement for the savings account. Depending on amounts trying to be transferred the methods/accounts, there may be limitations in your ACH transfers.
Thank you Jeff for the info. I transferred funds through my bank about 5 days ago, and I still can not do a withdrawal, the only allowed amount to withdraw is the applecash. I’ll wait few more days and see.
Have your verified your identity for Apple Cash?
Identity verification for Apple Card or Apple Cash - Apple Support
Transfer money in Apple Cash to your bank account or debit card - Apple Support
Use a debit card to add money to Apple Cash
By default, your Apple Cash balance is used to send money. If you don't have enough money in your Apple Cash balance to send the payment, you can pay the remainder with a debit card in Wallet. You can see which card is being used on the confirmation screen.
Learn how to add a debit card to Wallet if you don't have one added.
I am day 7 (working day now). Still says "Pending...".
The support folks on the 877 number keep saying the same thing: It's marked as posted on their end but on my wallet, it's clearly been in "Pending..." or "In Progress..." since May 13th.
I am trying to withdraw to a connected and verified account to which I had previously successfully withdrawn. So, I don't know what the hold up is.
I agree it's frustrating not to see the funds in the apple savings nor in the destination for such a long time.
Anyone had any luck after being in limbo for 7 working days? Thanks.
Is there any way to opt out of this thread without blocking Apple support groups altogether? I didn't know it would continue on like this afterwards and my phone beeps whenever I get an email.
just, FYI, and I’m having this issue now, even when you try to withdraw, that will take another forever!!! I’m at 7 business days and counting on money I withdrew from Apple Savings into another external savings account (mind you also with Goldman Sachs). The transaction is still “in progress.” Opening this account was the worst idea on my end!
I clicked on me too because I thought it was a comment section. I'm just trying to find out if it'll be accessable when necessary before I start saving for years. It looked like a button to open up the comments to me.
I saw me too and thought it was a comment not part of a survey so I clicked on it thinking there was more to the story and saw that it tallied my response. Now I know how this conversation thread works.
I get it now. Thanks for the reply. I opened my account within minutes of it being available and have no issues with my Apple Savings account. I’m glad you’ve got it figured. Out. We’re always happy to try and help.
OK. That's good to know. There is dispute process as well which could be used if all else fails.
I think it's a matter of time which is hard when your life is busy esp. with summer coming around and if we have to travel internationally where reception is sketchy at best to keep following up on.
Keep us posted when you do see the money back in your savings account and we will do the same. It will give us an idea how long things could take.
I transferred money from my local bank to Apple/Goldman Sachs savings. Initiated on the 17th, a Saturday. Local bank completed their part on the 20th (Monday Holiday). Goldman Sachs says it won’t be available until the 26th. So if I had an emergency and needed the funds immediately I’d be out of luck. Can’t help but think their must be some banking regulation being ignored here.
Thanks for the informative post.
Have no idea how I missed reading about these terms and conditions. Like everyone else on the Planet I always read every word of contractual and licensing agreements when presented to me. :^)
It seems to me that the first deposit happened much quicker and I did expect this one to take a little longer due to the holiday.
In any case, I still wonder why an electronic transfer takes so long. Shouldn't it only take mere moments?
Isn't that one of the advantages hawked to us with the "paperless" bill payment?
Thank You again for the explanation.
I had the same issue but worse and I would elaborate but they removed a post I made on another thread about the same Issue. Its absolutely ridiculous and they shouldn't be able to get away with this. I just ended up liquidating the entire savings.
Thank you very much.
Noula
You’re welcome!
Apple Savings won’t allow me to withdraw ?
