My saving funds not available to transfer externally
Funds not available for external transfer
Funds not available for external transfer
And is there a question?
I had the same expereince. Here is what I learned from a lengthy chat with a GS specialist about transferring funds from Apple Savings to an external bank account. (This conversation did not cover transferring funds from Apple Savings to Apple Cash):
I my case I had made four deposits from an external bank account over a few days. They all were on a transfer hold for five business days.
@Apple: The GS specialist was able to tell me the exact date when the hold was going to be lifted for each deposit. It would be a very helpful enhancement to include this information in the transaction details in Wallet. Currently it only states "Status: In progress".
I hope this helps!
Good information, thank you for sharing.
We’re all your accounts verified through Goldman Sachs or your external bank?
Opening the Apple Savings account and linking my external Bank account to it was all done in Wallet. It was a seamless and quick process. There was no visible verification process on my end other than providing my SSN.
That’s the issue. You entered the account numbers but didn’t go through a verification process. This basically is a requirement of the Patriot Act enacted after 9/11. It’s known as Know Your Customer (KYC) and it’s designed to help prevent money laundering, terrorism etc.
Without verification you can only transfer funds back to the source and the amounts may/will be an issue. Verification establishes ownership of the account etc. You can do it on both or one end or the other. If you verify the external account, you can use it to punch or pull funds to Apple Savings account. But if the transfer originates with Apple Savings, you must verify the account(s) with Goldman Sachs. Most of this is disclosed in the Apple Savings account terms and conditions, but there are certainly vague areas if someone is looking to be fully guided through the process.
The information you shared was useful to the community and I appreciate you sharing what you experience end and learned.
You're welcome. Happy to share.
👍👍👍👍
Thanks for the actual experience.
FYI, the terms for Funds Availability are explicitly described on pages 9 & 10 of the Savings’ Terms and Conditions (T&C)
The T&C are accessible from:
Wallet -> AppleCard -> Savings Account -> More (three dots) -> Account Details -> Terms and Conditions
My saving funds not available to transfer externally