Apple saving direct deposit and ACH pull

Yes, a HYSA is not really intended to be a bill paying funding source. HYSA are meant for the accumulation of wealth, not the distribution of wealth. Very few HYSA have bill pay and transfer are usually slow and may have fees associated with the transfers greater than the interest. HYSA is best used for setting money aside that will accumulate interest and every month you deposit/transfer money into the account. It’s not designed to be a good source for paying bills, distributing funds, emergency funds etc.

Realize that this is a savings account, not a checking account. If you are planning to pay bills from this savings account you will run into withdrawal limits imposed by the terms and conditions. Read them.

Your plan is not what this savings account was designed for.

yes for some of my account I can add apple saving as external bank, for others I can't add apple saving account as payment account including my credit card which is from citi bank. :(

1) Some community members have reported no issues setting up direct deposit with account numbers. While other members have reported having to have their information entered by employer. However, other members have stated neither their employer or account owner could set up direct deposit. This may evolve over time.

2) You can enter Apple Savings account numbers and doing ACH transfers. I really doubt credit cards can be used for funding.

Try it, make a payment, either it’ll make a payment or won’t. I suspect it’ll vary by bank/credit card issuer.

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

I read through the above doc and it only mentions limitations for Apple Cash Transfers. For external account I did not see a number being mentioned.. Maybe others could chime in.

Apple Cash Transfers

You may deposit or withdraw funds from your Account into or from Apple Cash. Transfers must be at least $1.00 and can be

no more than $10,000. You may transfer no more than $20,000 per rolling 7-day period. We may place additional limits on

the amount and frequency of transfers for the security of your Account.

Account owner can withdraw/transfer funds using basically two methods. The first method is Transfer to Apple Cash. One advantage to this method is it’s near instant and free. The downside is the limits of no transfer may be larger than $10,000 and no more than $20,000 in any 7 day rolling period.

ACH transfers are free from Goldman Sachs, but your receiving financial institution may charge a fee. The transfer also takes five business days. If a transfer request is received after 9:30 AM ET on a business day it’ll be considered as received on the following business day. Weekends and holidays are not business days.

In my personal opinion the way to transfer funds is setting of Apple Cash with your external accounts. Not all external financial institutions will allow their debit card to be verified and attached to Apple Cash.

I called Goldman Sachs and spoke to customer service rep and asked them if there were withdrawal limits for the Apple Savings account, they looked it up and said there were no maximum withdrawal limits. Now if you have found where it says otherwise, please share that here for everyone. Thanks.

The only limitations are on transfer to Apple Cash. You can transfer no more than $10,000 in a day and no more than $20,000 in any 7 day rolling period. ACH transfer do not have a limit in regard to maximums or minimums.

Now my issue, is my employer DD website will not accept the routing number associated with my Apple Savings account. That's a huge bummer for me as I wanted to start paying most of my bills from this account. Looks like that's going to be more complicated and time consuming over the long run.

Apple has no limit on the number of withdrawals from their savings account.