Starting today, Apple Card users can choose to boost their daily cash rewards with a savings account from Goldman Sachs that offers a 4.15 percent high-yield API.1 – A rate more than 10 times the national average.2 With no fees, no minimum deposit and minimum balance requirements, users can easily manage their savings account from Apple Card in Wallet.3
“Savings helps our users get more value from their favorite Apple Card benefit — Daily Cash — while giving us an easy way to save money every day,” said Jennifer Bailey, vice president of Apple Pay and Apple Wallet. “Our goal is to build tools that help users lead healthy financial lives, and building Savings with Apple Card into Wallet allows them to withdraw, send and save daily cash directly and seamlessly — all in one place.”
Once a savings account is set up, all the daily cash earned by the user is immediately deposited into the account. The Daily Cash destination can also be changed at any time, and there is no limit to how much Daily Cash users can earn. To further increase their savings, users can deposit additional funds into their savings account through a linked bank account or from their Apple Cash balance.
Users get an easy-to-use savings dashboard in Wallet, where they can conveniently track their account balance and interest earned over time. Users can withdraw money at any time through the Savings Dashboard by transferring money to a linked bank account or to their Apple Cash card at no charge.4
The new savings account from Goldman Sachs builds on the financial health benefits Apple Card already offers, with no fees.5 Daily cash back on every purchase and tools that encourage users to pay Apple Card interest — all while providing the privacy and security users expect from Apple.