Introduction

Apple has recently announced an exciting new feature for Apple Card users: the ability to grow their Daily Cash rewards through a high-yield Savings account from Goldman Sachs. With an impressive 4.15% APY, Apple aims to help users lead healthier financial lives by offering a seamless and user-friendly experience. This article will explore the details of this new offering and how it can benefit Apple Card users.

Apple’s High-Yield Savings Account

According to Apple’s statement, “Starting today, Apple Card users can choose to grow their Daily Cash rewards with a Savings account from Goldman Sachs, which offers a high-yield APY of 4.15 percent — a rate that’s more than 10 times the national average.” With no fees, minimum deposits, or minimum balance requirements, users can easily set up and manage their Savings account directly from Apple Card in Wallet.

Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, said, “Savings helps our users get even more value out of their favorite Apple Card benefit — Daily Cash — while providing them with an easy way to save money every day.” She added, “Our goal is to build tools that help users lead healthier financial lives, and building Savings into Apple Card in Wallet enables them to spend, send, and save Daily Cash directly and seamlessly — all from one place.”

Maximizing Savings with Daily Cash

Once a Savings account is set up, all future Daily Cash earned by the user will be automatically deposited into the account. Users can change their Daily Cash destination at any time, and there’s no limit on how much Daily Cash they can earn. To build their savings further, users can deposit additional funds into their Savings account through a linked bank account or from their Apple Cash balance.

Savings Dashboard and Accessibility

Users will have access to an easy-to-use Savings dashboard in Wallet, where they can conveniently track their account balance and interest earned over time. They can also withdraw funds at any time through the Savings dashboard by transferring them to a linked bank account or to their Apple Cash card, with no fees.

Enhancing Apple Card’s Financial Health Benefits

The new Savings account from Goldman Sachs builds upon the financial health benefits that Apple Card already offers, such as no fees, Daily Cash on every purchase, and tools that encourage users to pay less Apple Card interest, all while maintaining the privacy and security users expect from Apple.

Conclusion

The introduction of the high-yield Savings account for Apple Card users represents a significant step forward in Apple’s commitment to helping its customers achieve better financial health. With its competitive 4.15% APY and seamless integration with the Wallet app, Apple Card users now have an even more convenient and rewarding way to save money and grow their Daily Cash rewards.

Source: Apple Press Release