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A new report has revealed that Goldman Sachs and Apple have made some adjustments to the Apple Card Savings Account. This is a response to an issue in July, which reportedly caused account owners to experience extreme delays in their transfers.
According to those who shared their stories with Wall Street Journal, they experienced delays beyond the promised maximum three-day period for the service, with one claiming to wait for 17 days to receive the transferred fund. Worse, there was also a case where the fund seemingly vanished during the process, with the balance not appearing in the source savings account nor in the receiving external bank account.
Goldman Sachs, the banking partner for Apple savings accounts, explained that the delays were part of the process to “protect” the accounts. Now, the companies have realized that the only way to resolve this issue is to adjust the “approach” of the system.
The Information reports:
Now, if a customer with a large amount of money tries to move a small portion of their savings to an outside account, the system will be less likely to flag those transactions. Goldman also put in place a cap on the number of days withdrawals should take and prioritized better communication with customers whose transactions were flagged or are experiencing delays, one of the people said.
Aside from that, the report shares that the two companies are promoting the “option for a three-way-call among the call center and the bank to which the customer is trying to transfer.”
According to the report, the changes have improved the situation.
Are you one of those who experienced this issue in your Apple Card Savings Account? Let us know your story in the comment section!