After rumor that the high - yield Daily Cash savings news report announced last year would finally be launching , Apple hasannouncedthat the newfangled Apple Card feature article will be available for all users beginning today . The accounting , which is offered in partnership with Goldman Sachs , will have an telling yearly percentage yield ( APY ) of 4.15 pct .
The savings chronicle is set up and access through the Daily VCash division of the Apple Card in the Wallet app . Any Daily Cash that is earned is mechanically deposited into savings , and users can also situate money from a linked bank chronicle . The Daily Cash terminus can be changed by the user at any time , and there is no bound as to the money earn , but fit in to theaccounts agreement available online , the maximum balance allow is $ 250,000 .
Learnhow to open an Apple Cash Savings invoice
Users can get information on the savings account statement ( such as balance , dealings account , APY ) through the Savings splasher in the Wallet app . There are no fees , no minimal deposits , and no minimal balance requirements . Money can be withdrawn at any sentence , though transfer to a linked bank account or a transfer to Apple Cash
“ Savings helps our substance abuser get even more economic value out of their favorite Apple Card benefit — Daily Cash – while leave them with an easy way to save money every twenty-four hours , ” say Jennifer Bailey , Apple ’s frailty United States President of Apple Pay and Apple Wallet , in a press release . “ Our goal is to construct tool that avail drug user lead healthier fiscal lives , and building Savings into Apple Card in Wallet enable them to spend , send , and pull through Daily Cash straight off and seamlessly – all from one lieu . ”
High - yield savings accounts are becoming increasingly pop , offering much high interest rates than standard savings – Apple ’s charge per unit is 10 times the interior average of 0.37 percent but in contrast with other high - yield savings . Rates from other institutions range from 3 per centum to 4.25 percentage and higher , but there can be restrictions that the chronicle holder has to stomach by , such as maintaining a minimum counterbalance or terminal point on withdrawal . Apple Savings does n’t have many of these confinement .
Apple Savings is the latest financial armed service from the caller . In March , Apple started theApple Pay Laterprogram in the U.S. , a serving that splits the cost of a purchase into four equal payments . sake or fee are not charged unless a defrayment is late .
