After several announcements, rumors and waiting, the Apple Card savings account has officially arrived in the United States. The Cupertino company announced today the availability of this service that we can access from the Wallet app on our iPhone. A service with which we can get a 4.15% interest on the money we store in the account.
Apple Card benefits generating more benefits
The new Apple Card feature allows us to open a high-yield savings account. Apple offers this service hand in hand with Goldman Sachs who is responsible for managing the interest on the money and also managing the interest on the Daily Cash we earn from using the Apple Card both online and through Apple Pay. Jennifer Bailey, vice president of Apple Pay and Apple Wallet, explains it like this:
“The savings account helps our users get even more value from their favorite Apple Card benefit – the Daily Cash – while giving them an easy way to save money every day. Our goal is to build tools that help users lead healthier financial lives, and building the Apple Card savings account in Wallet allows them to spend, send and save Daily Cash directly and seamlessly, all from one place.”
If we are in the United States, and assuming we have our iPhone updated to the latest available version of iOS, we can open the account directly in the Wallet app on our phone. Simply tap the three-dot button at the top of the screen, tap Daily Cash and select Set up savings account.
Once the account is up and running, the money from the Apple Card benefit program will come directly into our account and start earning interest. Alternatively, if we prefer, we can choose to have the Daily Cash added to the balance, where it will not generate profits. A choice we can make according to our needs directly from the Wallet app on our iPhone. A single place to manage our money easily.
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