by Ethan Huff, Natural News:
It has been one month since Apple launched its new savings account service with Goldman Sachs, and customers everywhere are reporting that they are having trouble accessing their cash.
After attracting more than $1 billion worth of deposits in the first four days of launch, Apple has apparently restricted withdrawals and transfers. One man named Nathan Thacker, who lives outside of Atlanta, told The Wall Street Journal that he has continually tried but failed to transfer $1,700 from his Apple account to his JPMorgan Chase account.
By this terminal stage, the competent have been driven out, quit or burned out.
The Consumer Financial Protection Bureau (CFPB) published a warning to consumers this past week stating that funds held in popular online payment apps, such as Paypal, Cash App, and Venmo, lack FDIC insurance and should be transferred to “insured banks and credit unions.”
