Apple launches a 4.15% savings account in the US

Apple Card users can choose to grow their Daily Cash rewards in the account from Goldman Sachs

Apple has launched a new savings account offering a 4.15% APY. 

The account, which is provided by Goldman Sachs, will allow Apple Card users to put their Daily Cash rewards into the savings account. 

Daily Cash, a rewards perk for Card users, returns a percentage of purchases, which is deposited in the high-yield account from Goldman Sachs. 

Users can top up the savings account further through a linked bank account or from their Apple Cash balance. 

The account has no fees, minimum deposits or minimum balance requirements. 

Jennifer Bailey, vice president of Apple Pay and Wallet, commented: “Savings helps our users get even more value out of their favourite Apple Card benefit—Daily Cash—while providing them with an easy way to save money every day. 

“Our goal is to build tools that help users lead healthier financial lives, and building savings into Apple Card in Wallet enables them to spend, send and save Daily Cash directly and seamlessly—all from one place.” 

This is the latest financial offering from the tech giant, which also launched a BNPL service in the US in March. 

Image: © Marc Mueller via Canva

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.