Apple Card Launches High-Yield Savings Account

Today Apple announce that their Card’s new high-yield Savings account is now available, offering a 4.15 percent APY.

“Starting today, Apple Card users can choose to grow their Daily Cash rewards with a Savings account from Goldman Sachs, which offers a high-yield APY of 4.15 percent1 — a rate that’s more than 10 times the national average.2 With no fees, no minimum deposits, and no minimum balance requirements, users can easily set up and manage their Savings account directly from Apple Card in Wallet” it state the press release.

 

For some years now Apple had developed and launched several financial services products, including:

 

Apple Pay: a digital wallet and mobile payment service that allows users to make payments using their iPhone, iPad, or Apple Watch at participating merchants.

Apple Card: a credit card that is integrated with the Apple Wallet app, offering cashback rewards, no fees, and a range of features such as spending tracking and financial management tools.

Apple Cash: a peer-to-peer payment service that allows users to send and receive money through iMessage or Siri.

Apple Pay Cash Card: a virtual debit card that is linked to the Apple Cash account and can be used to make purchases online and in stores that accept Mastercard.

Apple Financial Services: a platform that provides financing options for Apple products, including installment loans and trade-in options for older devices.

Apple Pay Later: to allow consumers to pay for purchases over time, the users can split purchases into four payments with zero interest and no fees.

 

Apple Card has been granted various awards for customer satisfaction, so we expect these new products to be another success.