Apple Card Savings Account has officially launched, and Apple users in the United Statescan now sign up for the high-yield savings account. Here’s a step-by-step guide on how to sign up for Apple Card Savings Account, manage your Daily Cash rewards, and what the account looks like in the Wallet app.
Signing Up for Apple Card Savings Account:
To sign up for Apple Card Savings Account, you must be an Apple Card user. Here’s how to sign up:
- Open the Wallet app on your iPhone
- Tap on your Apple Card
- Tap the “…” three dots in the upper-right corner
- Tap on the “Daily Cash” option in the menu
- Scroll down and select the “Apple Card Savings Account” option
After selecting the “Apple Card Savings Account” option, the Wallet app will guide you through the sign-up process. You will need to enter your social security number, agree to the terms and conditions, and submit your application to Goldman Sachs, Apple’s partner bank, for final approval.
Once approved, you’ll receive an email from Apple, and you can access your Apple Card Savings Account directly in the Wallet app. You’ll see a new “Savings Account” interface within the Apple Card section of the Wallet app. Tap on this to view your current account balance, add money to your account, and withdraw any money to a linked bank account or to your Apple Cash card.
Managing Your Daily Cash Rewards:
To set up your Apple Card Daily Cash rewards to deposit instantly into your Savings account, follow these steps:
- Open the Wallet app on your iPhone
- Tap on your Apple Card
- Tap the “…” three dots in the upper-right corner
- Tap on the “Daily Cash” option in the menu
- Under “Daily Cash Election,” choose “Savings”
The current interest rate for Apple Card Savings Account is 4.15%, and there are no fees whatsoever. You can fund your account through a linked bank account or from your Apple Cash balance. Withdrawalsand deposits typically take 1-3 business days.
Remember, the APY can change based on the broader economy. Interest is compounded daily and paid at the end of the month. With this high-yield savings account, you can earn more on your savings while managing your finances all in one place.
