Apple in October announced a new Savings account for Apple Card that will allow users to save their Daily Cash and grow their rewards in a high-yield Savings account from Goldman Sachs. This week, Goldman Sachs updated its Apple Card customer agreement to reflect the credit card’s upcoming Daily Cash savings account feature.
When it finally launches, Apple Card users will be able to open the new high-yield Savings account and have their Daily Cash automatically deposited into it — with no fees, no minimum deposits, and no minimum balance requirements. Soon, users can spend, send, and save Daily Cash directly from Wallet.
“To enable new ways to use Daily Cash like the upcoming Savings account feature, we are updating the Daily Cash Program section of your Apple Card Customer Agreement,” reads an email sent to Apple Card holders this week.
The savings account was listed in the release notes for the iOS 16.1 Release Candidate, but it did not end up launching with that update. The savings account has not been present in any iOS 16.2 betas, so it’s unclear when it will become available, but Goldman Sachs evidently continues to lay the groundwork for the feature’s launch.
MacDailyNews Take: This new high-yield Savings account will be excellent and logical addition to Apple Card’s features and perks!
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High yield is what the credit cards charge it’s users for floating debt. I imagine these high yield savings accounts will be small peanuts compared to what they get on the other end.
What does one thing have to do with the other? They are already doing that. This is a separate and unrelated thing.