How to Setup Apple Savings Account

In this article we will show you how to Setup Apple Savings Account. Apple Savings, a high-yield savings account from Goldman Sachs, is a great new way for Apple Card users to grow their Daily Cash earnings. Apple’s Daily Cash program gives users 1% cash back on all Apple Card purchases and up to 3% cash back when they use Apple Pay, buy from certain partners, or buy from the Apple Store. If you want to get the most out of your Daily Cash awards, Savings accounts offer an APY of 4.15 percent, which is more than ten times the current national average, and there are no minimum deposits or minimum balances.

Through the Savings dashboard in Apple Wallet, users can easily keep track of their account balance and the interest they’ve made over time. They can also withdraw funds at any time to a linked bank account or to their Apple Cash card, with no fees. People who have an Apple Card can now get interest on the money they have in their account. With Apple’s new cash savings account, the rewards you get for using your Apple Card every day can be put into a savings account immediately. If you want to know more information about this visit official Apple Website.

With a 4.15% yearly yield, this account could give you more money than most banks. To use the Apple Cash bank account, you must own (or be a co-owner of) an Apple Card account. No minimum deposits, fees, or balance are needed. You can transfer money directly from Apple Cash or from the bank account linked to your card if you don’t want your balance to be used automatically. You can also move money in and out of the savings account as needed and turn off automatic payments at any time. Here are the steps to Setup Apple Savings Account.

What Is Apple’s No-Fee Savings Account?

In April 2023, Apple said that Apple Card users would be able to get high-yield savings accounts with no fees. Already, if you have an Apple Card, you can get cash back rewards of 1% to 3% whenever you buy something from an Apple store, the App Store, the iTunes store, or a few partner brands and shops. And the Wallet app on your iPhone lets you keep track of the cash-back benefits.

One of the benefits of having and using an Apple Card is that it comes with a new savings account that is backed by Goldman Sachs. This account lets you make a higher rate of interest on your cashback rewards and any other money you decide to save in it—Apple offers an annual yield rate of 4.15 percent. Still, there are no costs to set up the account.

You can put the cashback benefits into your savings account, but you can also put money from any linked bank account into your savings account. You can take money out of your savings account at any time and put it on your Apple Card or in a different bank account of your choice. Also, Apple’s savings account doesn’t have a minimum deposit or minimum value requirement.

How to open and set up your Apple Card Savings account

1. Check to see if you have an Apple Card.
2. If you don’t have one, you can get one here.
3. Once your application is accepted and your Apple Card is set up, you can move on to the next step.
4. Also, make sure your device is running the latest version of iOS.
5. Open the Apple Wallet app on your iPhone or iPad.
6. You should see all of your credit and debit cards, including the Apple Card. Tap on it.
7. Tap the button with three dots in the upper right corner.
8. Choosing Daily Cash.
9. Under “Daily Cash Election,” you should now see a “Savings” account. Click Set Up.
10. You will find out more about the Apple Card Savings account. Hit Continue.
11. Enter your Social Security Number and click Next.
12. Apple will tell you what the rules are. Read them, then tap “Agree.”
13. You’ll be asked some law questions. Please do your own study on these, because we’re not lawyers and can’t tell you what to put in. When you’re done, click “Confirm & Open Account.”
14. Your request will be taken care of. Wait until everything is finished.
15. You’ll be asked if you want to move your current Apple Cash to the Apple Card Savings account after you get approved. Choose “Transfer to Savings” or “X” to leave the page.
16. All done! Your account is all set up.

How to deposit money to your Apple Card Savings account

1. Open the Apple Wallet app on your iPhone or iPad.
2. You should see all of your credit and debit cards, including the Apple Card. Tap on it.
3. Go to the choice for Savings Account.
4. Tap the button that says “Add Money.”
5. Choose how much you want to pay, then click Next.
6. Choose the linked account from which you want to take the money. This could be your Apple Cash account, by the way. And you can add money to your Apple Cash account from bank accounts or debit cards.
7. Once you’ve chosen where the money will come from, press the Power button twice.
8. Let the deal go through to the end.

Questions and Answers