Apple has announced a high-yield savings account for Apple Card developed by Goldman Sachs.
Apple Card users will soon be able to open ‘Savings’ and have their Daily Cash rewards – three per cent cash returns when users buy something using Apple Card at participating retailers – automatically deposited into it.
The new service comes with no fees, minimum deposits, or minimum balance requirements. And there is no limit to the amount of Daily Cash users can receive.
Apple users will also have the option to deposit additional funds into their Savings account through a linked bank account, or from their Apple Cash balance. Once set up, a Savings dashboard shows users their account balance and interest accrued over time.
“Savings enables Apple Card users to grow their Daily Cash rewards over time, while also saving for the future,” said Jennifer Bailey, vice president of Apple Pay and Apple Wallet. “Savings delivers even more value to users’ favourite Apple Card benefit — Daily Cash — while offering another easy-to-use tool designed to help users lead healthier financial lives.”
Apple and Goldman Sachs began a partnership on credit cards in 2019 and the financial services company launched its consumer bank in 2016.
Latest News
-
Mastercard launches AI-powered card design tool in industry first
-
PayPal to create 100 data science jobs at Dublin office
-
UK knocked into third place for global FinTech investment
-
NatWest boosts digital property transactions with new partnership
-
TPG to launch pan-European pre-paid mobile payment service rivalling Visa, Mastercard
-
BNY partners with Goldman Sachs on blockchain funds product
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories