Apple Card’s New Savings Account Feature
Apple Card has partnered with Goldman Sachs to offer a new Savings account with a high-yield Annual Percentage Yield (APY) of 4.15 percent. This is more than 10 times the national average and offers users a great way to build their savings. With no fees, minimum deposits, or balance requirements, users can easily set up and manage their Savings account directly from the Wallet app.
How Apple Card Works
Once set up, users can automatically deposit all Daily Cash rewards earned through Apple Card into their Savings account. Users can also deposit additional funds from a linked bank account or their Apple Cash balance to further build their savings. A Savings dashboard in Wallet allows users to track their balance and interest earned over time, and funds can be withdrawn at any time with no fees.
Apple Card – Benefits of the Savings Account
The Savings account feature builds upon the existing financial health benefits of the Apple Card, including no fees, Daily Cash on every purchase, and tools to encourage users to pay less interest. The Savings account is available to Apple Card Owners and Co-Owners, subject to eligibility requirements, and is issued by Goldman Sachs Bank USA.
Conclusion
Overall, the new Savings account feature of Apple Card with Goldman Sachs offers a convenient and easy way for users to save money and lead healthier financial lives. With a high-yield Annual Percentage Yield, no fees, and easy management through the Wallet app, the Savings account is a great option for anyone looking to build their savings. It’s important to check with official sources for the most up-to-date information on Apple Card’s Savings account.