Goldman Sachs has contacted Apple Card owners to inform them that the bank has now raised savings account limits to $1 million, up from the previous $250,000.
According to the updated Apple Card agreement, any deposits that bring the account over $1,000,000 will be returned via check.
There was a good reason for the old limit. As per rules set by the Federal Deposit Insurance Corporation (FDIC), anything above $250,000 is not insured.
