As of this week, Apple Card users can now choose to grow their Daily Cash rewards with a high-yield 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, no minimum deposits, and no minimum balance requirements, users can easily set up and manage their Savings account directly from Apple Card in Wallet.
Once a Savings account is set up, all future Daily Cash earned by the user will be automatically deposited into the account. The Daily Cash destination can also be changed at any time, and there’s no limit on how much Daily Cash users can earn. To build on their savings even further, users can deposit additional funds into their Savings account through a linked bank account, or from their Apple Cash balance.
Travis Hoium for The Motley Fool:
Apple has announced that it is growing the tools in the Wallet app with a savings account. That’s a big win for savers but could make Apple’s products even stickier… This is a great move for Apple and its shareholders.
MacDailyNews Note: Here’s how Apple Card users can easily set up a Savings account from Goldman Sachs:
- On your iPhone, open the Wallet app and tap Apple Card.
- Tap the More button the more button, then tap Daily Cash.
- Tap Set Up next to Savings, then follow the onscreen instructions.
More info about how to set up and use Savings in Apple Wallet here.
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