Goldman Sachs Bank which issues the Apple Card began offering a high-yield
Apple Card savings account yesterday 4/19/23. According to the below
website, this account is currently paying a 4.15% APR or APY depending on
your acronym of choice:

 

https://nr.apple.com/DH9l5p5Ab0

 

You can read about how any Apple Cash earned with your Apple Card is
automatically deposited in this account at the above site. I thought the
site was a bit lax in providing specific instructions on how to set up one
of these accounts so I'm posting that below:

 

1.      Open the Wallet app on your iPhone or iOS device and tap on "Apple
Card."
2.      Tap the More button, then tap "Daily Cash."
3.      Tap "Set Up" next to "Savings," and follow the onscreen instructions
to the savings account application.

 

For those who already have Apple Cards, setting up this account took about 2
minutes. When following the above instructions, you have to provide your
Social Security or taxpayer ID number and confirm that you are not subject
to IRS backup income tax withholding. More than likely, you already have a
bank account attached to your Apple Card for paying it off and transferring
funds between this external bank account and the high-yield savings account
is very easy.

 

I hope the above information is helpful to anyone interested in this savings
account.

 

Alan Lemly

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