Apple savings account
What happens if I want to withdraw more than $20000 per week?
What happens if I want to withdraw more than $20000 per week?
There are two ways to transfer funds out of Apple Savings account. The standard method is an ACH (Automated Clearing House) and takes 1 to 3 days business days for the transfer to complete. The second way is to transfer funds from Apple Savings to Apple Cash. This method is also free, but the transfer is instant (may take up to 30 minutes to complete).
ACH transfers can be any amount and are not limited to $20,000. However, larger transfers may delayed because of Federal Reserve Bank regulations. This is under the Patriot Act requirements and other federal regulations and statutes. The Instant transfer rules are limited no more than $10,000 in a day and no more than $20,000 in any 7 day rolling period.
https://www.goldmansachs.com/terms-and-conditions/Deposits-Account-Agreement.pdf
There are two ways to transfer funds out of Apple Savings account. The standard method is an ACH (Automated Clearing House) and takes 1 to 3 days business days for the transfer to complete. The second way is to transfer funds from Apple Savings to Apple Cash. This method is also free, but the transfer is instant (may take up to 30 minutes to complete).
ACH transfers can be any amount and are not limited to $20,000. However, larger transfers may delayed because of Federal Reserve Bank regulations. This is under the Patriot Act requirements and other federal regulations and statutes. The Instant transfer rules are limited no more than $10,000 in a day and no more than $20,000 in any 7 day rolling period.
https://www.goldmansachs.com/terms-and-conditions/Deposits-Account-Agreement.pdf
akiko166 wrote:
What happens if I want to withdraw more than $20000 per week?
I’d expect all transfers in excess of the limit to be blocked, and that “Additional limits on the amount and frequency of transfers may be placed for the security of your Savings account“ might arise.
Apple savings account