Some Apple customers have found it difficult to access their savings from a new account program in partnership with Goldman Sachs.
After the new Apple savings account was launched in April to great fanfare, the system has been facing serious teething problems, according to customers.
The annual yield on an Apple savings account offers a generous 4.15 percent interest rate, dwarfing the current savings account yield of 0.39 percent, according to Bankrate.
The account’s interest rate is about ten times the average yield offered by mainstream banks, making it attractive to new customers and falls well below the Federal Reserve’s borrowing rate of between 5 percent and 5.25 percent.
