Apple has increased the maximum balance for Apple Card Savings accounts to $1 million, up from $250,000 previously.
As per an updated copy of the Apple Card customer agreement, customers can now keep up to $1,000,000 in their Apple Card Savings account, with issuing bank Goldman Sachs noting that it may reject and return any new deposits (other than interest and Daily Cash deposits) if a user’s Current Balance exceeds, or such deposit causes a Current Balance to exceed, the maximum balance limit.
Apple announced late last year that Apple Card Savings accounts have received over $10 billion in deposits from users since launching in April that same year.