April 14, 2024

Westside People

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A high-yield Apple Card savings account is available now, offering 4.15 percent APY

A high-yield Apple Card savings account is available now, offering 4.15 percent APY

Starting today, Apple Card users can choose to top their daily cash rewards with a savings account from Goldman Sachs, which offers a high-yield APY of 4.15 percent.1 A rate more than 10 times the national average.2 With no fees, minimum deposits, or minimum balance requirements, users can easily set up and manage their savings account directly from their Apple Card in Wallet.3

“The savings help our users get more value from their favorite Apple Card feature — Daily Cash — while providing them with an easy way to save money every day,” said Jennifer Bailey, vice president of Apple Pay and Apple Wallet. “Our goal is to create tools that help users live healthier financial lives, and building savings into Apple Card into Wallet allows them to spend, send, and save Daily Cash directly and seamlessly — all from one place.”

Once the savings account is created, all the daily cash earned by the user will be automatically deposited into the account. The destination of Daily Cash can also be changed at any time, and there is no limit to how much Daily Cash users can earn. To get even more out of their savings, users can deposit additional money into their savings account through a linked bank account, or from their Apple Cash balance.

Users will also have access to Wallet’s easy-to-use savings dashboard, where they can easily track their account balance and interest earned over time. Users can also withdraw money at any time through the savings dashboard by transferring it to a linked bank account or to their Apple Cash card, without any fees.4

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Goldman Sachs’ new savings account builds on the financial health benefits Apple Card already offers, with absolutely no fees,5 Daily Cash on every purchase, and tools that encourage users to pay lower interest to the Apple Card—all while providing the privacy and security users have come to expect from Apple.