Wednesday, August 7, 2019

Apple Card Exporting and Arbitration

Juli Clover:

In a support document on how the Apple Card works, Apple says exporting data from Apple Card is not a feature offered at this time. From the document: “Exporting data from Apple Card to a financial app like Mint is not currently supported.”

And, as far as I know, the feature is also iOS-only. So your data really is locked away, and you can’t easily back it up, either.

Andrew Orr:

Basically, if you don’t reject the provision, you forfeit any public claim against Goldman Sachs. Arbitration involves an arbiter (not a judge) overseeing the case, and both parties have input into who the arbiter may be. Goldman Sachs will pay the arbitration fees and other costs.

Apple Card lets you use Business Chat to quickly contact customer support, so you can probably send them the above information to opt out.


Update (2019-08-08): Rich Siegel:

It’s abusive. “I know you said ‘no’, but I really want you to say ‘yes’, so instead of letting you have the agency to give or withhold affirmative consent, I’m going to let you think that I’ll keep asking until eventually you cave in and say ‘yes’.”

Ben Bajarin:

In my view, and I’ve written extensively on this, Apple is a customer experience company. If you view Apple as a company, who strives to look for product opportunities where customer experience is lacking, and they have an opportunity to solve some pain points for consumers, then any product category is not off-limits. This certainly extends to technology, but technology is simply an ingredient of the overall Apple process.


This wording is a demonstration of how Apple is planting the seeds for future disruption of financial services. And, one of my favorite sayings, that serves as a helpful barometer for disruption is “wherever unhappy customers are, the potential for disruption exists.” While a consumer may be content with their banks or financial services, I can’t imagine customer satisfaction is at all-time highs in that sector. There is much to be desired, and Apple Card feels like a step in the direction of raising the bar for customer experience and satisfaction when it comes to financial services.

Update (2019-08-16): Nick Guy:

Apple Card PSA: Opting out of arbitration is super easy! Just hop on chat support and they can take care of it in seconds.

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No Mint integration? No sale.

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