Apple Card Launches New Saving Account

Apple Card's new high-yield savings account is now available to all users as a result of Goldman Sachs partnership

Apple Card Launches New Saving Account
Apple Card Launches New Saving Account

Apple Card’s new high-yield savings account is now available to all users. A press statement from today says that the account gives users an APY of 4.15 percent. Apple then says the rate is “more than ten times the national average.”

With Apple’s new feature, users can use a new savings account from Goldman Sachs to grow their Daily Cash benefits. The press release also said the function has no fees, minimum deposits, or minimum balance requirements. 

Apple Offers New Savings Account

Apple has added an exciting financial service to its growing financial services network. Through a relationship with Goldman Sachs, the Apple Card has launched a high-yield savings account that pays 4.15% APY.

Jennifer Baily, 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 also said, “Our goal is to build tools that help users lead healthier financial lives, and building savings into the Apple Card in Wallet enables them to spend, send, and save Daily Cast directly and seamlessly—all from one place.”

Daily Cash earnings are directly deposited when a user sets up a savings account. After that, the Daily Cash location can be changed anytime, and the user can earn as much as they want. Users can also add more money to their savings accounts by linking a bank account or using their Apple Cash account.

The new project is already a part of the ecosystem of banking services that Apple is building. Then, with the help of a financial institution like Goldman Sachs and the protection of the company,