republican debate

Apple customers are frustrated by new savings accounts

  • Apple launched new savings accounts with Goldman Sachs in April
  • But some customers are struggling to transfer money from their accounts
  • One financial expert says this may not be unusual with new accounts

(NewsNation) — In April, Apple teamed up with Goldman Sachs and offered new high-yield savings accounts to its Apple Card customers.

But some of those customers are finding it difficult to transfer money from their accounts. Some customers have had to wait weeks to get their money.

Hedge fund manager and “The Drill Down” business podcast host Cory Johnson joined “NewsNation Now” to discuss the case.

“It’s possible here that Apple and Goldman Sachs, their partner, are victims of their own success,” he said. “So many people rushed to open up these accounts when they were offered back in the end of April … transactions at any new account at a bank can sometimes trigger problems when you transfer money.”

Goldman Sachs, however, told members of the media that “the vast majority of customers see no delays in transferring their funds. In a limited number of cases, a user may experience a delayed transfer due to processes in place designed to help protect their accounts.”


Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending on NewsNation