Apple Card users can earn Daily Cash with a Savings account

Onur Demirkol
Apr 18, 2023

Apple has announced a new Savings account feature for Card users. It was recently discovered in the backend code, and the company finally made the official announcement.

Shortly after it was unveiled on social media, Apple officially announced its new Savings account feature. Apple Card users can put their money into the new Savings account from Goldman Sachs and get Daily Cash rewards, offering a high-yield APY of 4.15 percent. Apple says that the rate is more than ten times the national average.

Apple Card users can easily set up and manage their Savings accounts with no fees, no minimum deposits, and no minimum balance requirements. After you create an account, your Daily Cash rewards will be deposited into it. There is no limit on how much Daily Cash a user can earn, and you can change its destination anytime you want.

"Savings helps our users get even more value out of their favorite 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," said Jennifer Bailey, Apple's vice president of Apple Pay and Apple Wallet.

Apple Card Savings
Apple offers a high-yield APY of 4.15 percent

It was discovered before

A Twitter user named "@aaronp613" recently found the new Savings account feature in the backend code. Aaron found the code and realized the company would launch the feature sooner than expected. The user even predicted the release date to be April 17, which came out as true. Aaron also said the customized Apple Pay transit cards might go out on April 18.

Its references were found before Apple brought the Pay Later feature. However, we didn't know its details or release date. We had information about its terms of service and a couple of images that Apple rolled out with the official announcement.

You can access the new Apple Savings account feature through the Wallet app on your iPhone.


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