Apple's latest offering, the high-yield Savings account for Apple Card, now open to customers, provides a competitive annual percentage yield of 4.15%
Apple Card users can now manage their savings more efficiently with the introduction of a new high-yield Savings account. This account, provided by Goldman Sachs Bank USA, offers a competitive APY of 4.15 percent, more than 10 times the national average.
The Savings account comes with numerous benefits, including no fees, no minimum deposits, and no minimum balance requirements. This means that users can save and grow their money without worrying about maintaining a certain balance or being charged unnecessary fees.
The Savings account is accessible through the Wallet app, where users can find an easy-to-use dashboard to track their account balance and interest earned over time. Users can deposit additional funds into their Savings account through a linked bank account or from their Apple Cash balance.
It's important to note that the APY for the Savings account may change at any time. For more information about the national average rate, users can visit the FDIC website. The national average rate referenced is from the FDIC's published National Rates and Rate Caps for Savings deposit products as of 3/20/2023.
Transfer limits apply to Savings transfers to and from Apple Cash. For more details about transfer limits, users are advised to refer to the Deposit Account Agreement. The Savings account also has maximum balance limits.
Apple Card is subject to credit approval, available only for qualifying applicants in the United States, and issued by Goldman Sachs Bank USA, Salt Lake City Branch. The Savings account is available to Apple Card Owners and Co-Owners, subject to eligibility requirements.
All future Daily Cash earned by the user will be automatically deposited into the Savings account. There is no limit on how much Daily Cash users can earn.
The Savings account is available with iOS 16.4 and later. For more information regarding the Savings account, users can refer to the Wallet app or contact Apple Support.
With this new offering, Apple continues to innovate and provide financial solutions that empower users to make the most of their money. The high-yield Savings account is now available for Apple Card users, offering a convenient and effective way to save and grow their funds.
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