The new Apple Credit Card savings account is now available on the Wallet app. This high-yield savings account aims to assist Apple Card users in maintaining healthier financial lives. Users can easily open the account through their wallet app on their phones, where they can also manage the account conveniently.
Apple High Yield Savings Quick Take
The Apple Card’s high-yield savings account offers an APY of . This account is FDIC-insured and is a collaboration with Goldman Sachs. According to Jennifer Bailey, Apple’s Vice President of Apple Pay and Apple Wallet, the savings account allows users to make the most out of their Apple Card benefit, Daily Cash, while providing an easy way to save money.
Apple Daily Cash Rewards
Apple Card users can enjoy various benefits with the high-yield savings account. Apart from the high APY, users can also grow their Daily Cash through the same account. The account has no fees, minimum deposits, or minimum balance requirements.
Apple Wallet App Dashboard
The Wallet app’s Savings dashboard is user-friendly and offers several features. Users can transfer funds to a linked bank account, add funds to their Apple Cash card, track their account balance, view earned interest over time, receive Daily Cash on every purchase with their Apple Card, utilize financial tools to reduce interest expenses, and enjoy a highly private and secure experience. The account comes with the same financial health benefits as the Apple Card.
Apple Card and the High Yield Savings Account
The Apple Card’s high-yield savings account, offered in partnership with Goldman Sachs, provides a 4.15% APY and is FDIC-insured. This integration of banking and credit card services provides users with a seamless and comprehensive financial experience.
How To Get an Apple High Yield Savings Account
To access the high savings rates and Apple Cash perks, users need to have an Apple Card. They can set up the savings account directly in the Apple Wallet by providing their Apple Card account information and social security number. An individual taxpayer identification number may be required if applicable.
Final Take To GO: Is Apple Savings Worth It?
The Apple Card’s expansion into a one-stop shopping and saving experience through the Wallet app offers significant benefits to its users. With a 10 times higher APY compared to the national average, the high-yield savings account can be worth exploring for those interested in maximizing their savings. Apple’s ambition is to build tools that promote healthier financial lives, and integrating savings into the Apple Card aligns with this goal.
Apple Card High-Yield Savings FAQHere are answers to frequently asked questions about the Apple Card high-yield savings account.
- How do I open an Apple high-yield savings?
- To open an Apple high-yield savings account, you must first be an Apple Card user. You can apply for the Apple Card and, once accepted, access the savings option in your Apple Wallet. Personal information such as your social security number or taxpayer identification number may be required.
- What is Apple’s high-yield Savings account?
- Apple partnered with Goldman Sachs to launch a high-yield savings account on April 17, 2023. The account offers a 4.40% APY and is FDIC-insured. Apple Card credit card holders can easily open the account through the Wallet app on their iPhones.
- Did Apple launch a high-yield savings account with Goldman Sachs?
- Yes, Apple launched a high-yield savings account with Goldman Sachs on April 17, 2023. The account offers a 4.40% APY and is FDIC-insured. Apple Card credit card holders can easily open the account through the Wallet app on their iPhones.
- Is Apple savings worth it?
- The Apple Card high-yield savings account can be worth it, depending on your needs. It offers a 4.40% APY, which is 10 times the national average. The account also has no fees, no minimum balance requirements, and no minimum deposits. However, it is important to note that you must be an Apple Card user to open the savings account.
- How does Apple savings work?
- The Apple savings account is designed for Apple Card users and offers high yields. To open the account, you must be an Apple Card holder. Once set up, you can transfer funds through the Savings dashboard to a linked bank account or to your Apple Cash card. The account is fee-free and has no minimum balance requirements or minimum deposits.