Last month Apple continued its forays into the financial world with the introduction of Apple Card Savings, a new savings account from Goldman Sachs that offers 4.15% interest with no fees, no minimum deposits, and no minimum balance requirements. The Savings account is designed to hold your Daily Cash rewards from using the Apple Card, but you can transfer as much as you want into it, up to $250,000. Given the woefully low interest rates offered by most banks, the Apple Card Savings account may be compelling. It’s easy to manage in Apple’s Wallet app, but it doesn’t integrate with other personal finance apps right now.
It does require having an Apple Card account already set up.
To get started, open the Wallet app on your iPhone > tap your Apple Card > tap the 3 dots button > Daily Cash > Savings
(Featured image by iStock.com/brookebecker)