Apple Card users can increase their rewards in Apple Wallet by automatically depositing their overnight funds into a new high-yielding Goldman Sachs savings account
CUPERTINO, Calif.–(BUSINESS WIRE)–Apple® today announced a new Apple Card® savings account that allows users to save on their Daily Cash® and increase rewards in a high-yielding Goldman Sachs savings account.1 In the coming months, Apple Card users will be able to open the new high-yield savings account and have their overnight deposits automatically deposited into it – with no fees, no minimum deposits and no minimum balance requirements.2 Soon users will be able to spend, send and save Daily Cash directly from Wallet.
“Savings allow Apple Card users to grow their Daily Cash rewards over time while saving for the future,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. “Savings brings even more value to users’ favorite Apple Card benefit – Daily Cash – while providing another easy-to-use tool to help users lead healthier financial lives.”
Apple Card users can easily set up and manage savings directly in their Apple Card in Wallet. Once users set up their savings account, any future overnight funds they receive will be automatically deposited into it, or they can choose to continue adding it to an Apple Cash® card in Wallet. Users can change their Daily Cash goal at any time.
To expand savings even further, users can deposit additional money into their savings account from a linked bank account or from their Apple Cash balance. Users can also withdraw money at any time by transferring it to a linked bank account or to their Apple Cash card with no fees. Once set up, Apple Card users can watch their rewards grow in Wallet via an easy-to-use savings dashboard that shows their account balance and interest accrued over time.
Apple Card users get 3% Daily Cash on Apple Card purchases made with Apple Pay® at Apple and select retailers including Uber and Uber Eats, Walgreens, Nike, Panera Bread, T-Mobile, ExxonMobil and Ace Hardware, and 2 percent Daily Cash when using Apple Pay, at other merchants, and 1 percent on all other purchases. There is no limit to the amount of Daily Cash users can receive.
Goldman Sachs’ new savings account expands on the financial health benefits and valuable daily cash that the Apple Card already offers. Apple Card is integrated with Wallet on iPhone® and has transformed the credit card experience by simplifying the application process, eliminating all fees, encouraging users to pay less interest, offering the privacy and security users have come to expect from Apple, and Daily Cash with everyone purchasing offers.3
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© 2022 Apple Inc. All rights reserved. Apple, the Apple logo, and Apple Card, Daily Cash, Apple Cash, Apple Pay, and iPhone are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
1Savings accounts are provided by Goldman Sachs Bank USA, Salt Lake City Branch. Member FDIC.
2Savings are available to Apple Card owners and co-owners, subject to eligibility requirements.
3Variable APRs range from 13.99 percent to 24.99 percent depending on your credit rating. Prices from October 1, 2022.