Is there a transfer fee from apple savings to another bank?

When I transfer money from Apple Savings to another account at a bank will I be charged a fee?

iPhone 11 Pro Max, iOS 16

Posted on Aug 1, 2023 12:05 PM

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Question marked as Top-ranking reply

Posted on Aug 1, 2023 7:17 PM

No, but there are limits as to the speed of the transaction. There is not an option to pay a fee for an instant transfer, like many accounts that are not High Yield Savings Account (HYSA). You can do an instant transfer from Apple Savings to Apple Cash, but there are limits as to dollar amounts etc.


https://www.goldmansachs.com/terms-and-conditions/Deposits-Account-Agreement.pdf


Set up and use Savings in Apple Wallet - Apple Support


Transfer money from Savings to Apple Cash or your external bank account - Apple Support



Transfer money from Savings to a linked external bank account


You need to add a linked external bank account to Savings before you can transfer money.


  1. On your iPhone, open the Wallet app and tap Apple Card.
  2. Tap Savings account.
  3. Tap Withdraw.
  4. Enter the amount that you want to withdraw, then tap Next.
  5. Select or add the external bank account that you want to deposit money into.
  6. Double-click the side button to confirm with Face ID, Touch ID, or your passcode.


If you transfer money from Savings to a linked external bank account, it typically takes 1-3 business days for the transfer to complete. You should check with your external bank for funds availability.




Transfer money from Savings to Apple Cash


You need to set up Apple Cash and verify your identity before you can transfer money from Savings. Transfers that you make from Savings to Apple Cash are subject to transfer limits.


  1. On your iPhone, open the Wallet app and tap Apple Card.
  2. Tap Savings account.
  3. Tap Withdraw.
  4. Enter the amount that you want to withdraw, then tap Next.
  5. Select Apple Cash as the account that you want to deposit money into.
  6. Double-click the side button to confirm with Face ID, Touch ID, or your passcode.


If you transfer money from Savings to Apple Cash, the funds are typically available instantly.



1 reply
Question marked as Top-ranking reply

Aug 1, 2023 7:17 PM in response to SchotziLou

No, but there are limits as to the speed of the transaction. There is not an option to pay a fee for an instant transfer, like many accounts that are not High Yield Savings Account (HYSA). You can do an instant transfer from Apple Savings to Apple Cash, but there are limits as to dollar amounts etc.


https://www.goldmansachs.com/terms-and-conditions/Deposits-Account-Agreement.pdf


Set up and use Savings in Apple Wallet - Apple Support


Transfer money from Savings to Apple Cash or your external bank account - Apple Support



Transfer money from Savings to a linked external bank account


You need to add a linked external bank account to Savings before you can transfer money.


  1. On your iPhone, open the Wallet app and tap Apple Card.
  2. Tap Savings account.
  3. Tap Withdraw.
  4. Enter the amount that you want to withdraw, then tap Next.
  5. Select or add the external bank account that you want to deposit money into.
  6. Double-click the side button to confirm with Face ID, Touch ID, or your passcode.


If you transfer money from Savings to a linked external bank account, it typically takes 1-3 business days for the transfer to complete. You should check with your external bank for funds availability.




Transfer money from Savings to Apple Cash


You need to set up Apple Cash and verify your identity before you can transfer money from Savings. Transfers that you make from Savings to Apple Cash are subject to transfer limits.


  1. On your iPhone, open the Wallet app and tap Apple Card.
  2. Tap Savings account.
  3. Tap Withdraw.
  4. Enter the amount that you want to withdraw, then tap Next.
  5. Select Apple Cash as the account that you want to deposit money into.
  6. Double-click the side button to confirm with Face ID, Touch ID, or your passcode.


If you transfer money from Savings to Apple Cash, the funds are typically available instantly.



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Is there a transfer fee from apple savings to another bank?

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