Apple Card’s Savings account reaches over $10 billion in deposits
Apple has announced today that Apple Card’s high-yield Savings account offered by Goldman Sachs has reached over $10 billion in deposits from users since launching in April.
Offering more than 10 times the national average in the US, the Apple Card Savings account offers a high-yield APY of 4.15 percent, allowing users to manage their Savings account directly from Apple Card in the Wallet app.
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.
Apple says 97 percent of Savings customers have chosen to have their Daily Cash automatically deposited into their account.
Users can set up and manage their Savings account directly from Apple Card in Wallet. To get started, after accessing Apple Card from the Wallet app, users can tap More, select Daily Cash, tap Set Up Savings, and follow the onscreen instructions.