Apple Card's new high-yield savings account from Goldman Sachs has been confirmed.
(Photo : Photo credit should read NOAH BERGER/AFP via Getty Images)
Apple CEO Tim Cook introduces Apple Card during a launch event at Apple headquarters on Monday, March 25, 2019, in Cupertino, California. (Photo by NOAH BERGER / AFP)
The giant iPhone maker announced this new service on Oct. 13, saying that the account will allow users to grow their rewards in the Apple Wallet.
"Savings enables Apple Card users to grow their Daily Cash rewards over time, while also saving for the future," said Apple Pay Vice President Jeffiner Bailey.
She added the new savings account would make Apple Card benefits more valuable. Bailey also said it will offer an easy-to-use tool to help users "lead healthier financial lives."
New Apple Card High-Yield Savings Account Confirmed
According to Engadget's latest report, the new Apple Card savings account from Goldman Sachs will allow consumers to grow their funds.
(Photo : Photo by Michael Short/Getty Images)
Apple Inc. CEO Tim Cook speaks during a company product launch event at the Steve Jobs Theater at Apple Park on March 25, 2019 in Cupertino, California. Apple announced the launch of it's new video streaming service, unveiled a premium subscription tier to its News app, and announced it would release its own credit card, called Apple Card.
Also Read: Apple Card Transactions are Missing in Wallet App for Some Users! No Bug Fix Yet?
The giant tech firm confirmed that this new enhancement would be available in the United States in the coming months.
But Apple didn't confirm the exact launch date yet. Although this is the case, there's a chance that the new high-yield savings account will arrive before 2022 ends.
Apple Card consumers can benefit from it by saving their Daily Cash in the new financial account.
They can either have their Daily Cash automatically deposited or have their money manually transferred from a linked bank account or Apple Cash balance.
How Does Apple Card Savings Account Work?
The official Apple Newsroom explained that consumers could use their Apple Cards to set up their savings accounts.
Once they have their own savings account from Goldman Sachs, they can withdraw their funds any time they want.
This new enhancement is exciting because there are no minimum deposit or balance requirements. Consumers can spend, send, and save Daily Cash directly from the Apple Wallet.
If you want to learn more about the new Apple Card high-yield savings account, you can visit this link.
In other stories, Tim Cook recently explained that the Apple Card remains U.S.-exclusive.
Meanwhile, it was confirmed that Apple Card users could appeal disputes that were not resolved.
For more news updates about Apple Card and other related business tech topics, keep your tabs open here at TechTimes.
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Written by Griffin Davis
