Apple Card Savings Account Available Starting Today With 4.15% Interest Rate

[xxFoxtail]

I’m not seeing an option to set up the savings account. Is it just a slow rollout?

And someone mentioned something about a routing and account number, can I just give this info to my job and direct deposit my checks directly into the Apple Savings account?

 

[BigMcGuire]

Excellent! I want to transfer $10,000 right now but I'm also scared. It is Tim Cook who is going to be overseeing our money. Perhaps, later tonight I will be transferring a bunch of money to Apple Savings.

Yeah I don't think we'll move our entire savings over until we see how this works after 30 days. I also want to test to see how fast it is to get money out. If it does involve Apple Cash, should be fairly quickly. But agreed, I'm not ready to give it all of our savings, yet.

 

[thawk9455]

Excellent! I want to transfer $10,000 right now but I'm also scared. It is Tim Cook who is going to be overseeing our money. Perhaps, later tonight I will be transferring a bunch of money to Apple Savings.

Tim Cook isn't seeing anything, it is a Goldman Sachs account. They've just partnered with Apple.

 

[BigMcGuire]

I’m not seeing an option to set up the savings account. Is it just a slow rollout?

And someone mentioned something about a routing and account number, can I just give this info to my job and direct deposit my checks directly into the Apple Savings account?

I have same question - I have yet to try to add it as a bank account linked to Apple Cash. Curious if anyone has tried this yet?

 

[Brad7]

Excellent! I want to transfer $10,000 right now but I'm also scared. It is Tim Cook who is going to be overseeing our money. Perhaps, later tonight I will be transferring a bunch of money to Apple Savings.

Tim Cook can finally see how much cash we have to spend on future products lol bet he’s like 😈

 

[decypher44]

It will be interesting to see how long it takes Ally and American Express to increase their rates.

Hoping AMEX increases this week due to competition. It’s already decent today (3.75%), but 4.15% is better!

My only hope for this new account is that it adds the ability to setup monthly transfers from bank account.

 

[thawk9455]

I’m not seeing an option to set up the savings account. Is it just a slow rollout?

And someone mentioned something about a routing and account number, can I just give this info to my job and direct deposit my checks directly into the Apple Savings account?

I'm able to access the routing and account number already. Should be able to provide that info for direct deposit.

 

[aParkerMusic]

Someone on Reddit said it goes live at 1 pm EST.

I’ve already set up my account, after updating iOS.

 

[uptownnyc]

Put in the amount and then on the Double Click screen, at the right of your existing bank name, hit the arrow and change it to Apple Cash.

Yeah, that's where I don't see "Apple Cash" as a choice.

 

[TheYayAreaLiving 🎗️]

Tim Cook isn't seeing anything, it is a Goldman Sachs account. They've just partnered with Apple.

100% Agreed but I still believe Tim Cook has some sort of involvement. Tim Cook and Money go hand to hand. He's well aware.

Tim Cook Reveals He Owns Cryptocurrency and Has Been 'Interested in It For a While'

Apple CEO Tim Cook publicly for the first time today revealed that he has personally invested in cryptocurrency and that he's been interested in...

www.macrumors.com

https://www.cnn.com/2019/03/25/tech/apple-credit-card/index.html

 

[BigMcGuire]

100% Agreed but I still believe Tim Cook has some sort of involvement. Tim Cook and Money go hand to hand.

View attachment 2189946

Tim Cook Reveals He Owns Cryptocurrency and Has Been 'Interested in It For a While'

Apple CEO Tim Cook publicly for the first time today revealed that he has personally invested in cryptocurrency and that he's been interested in...

www.macrumors.com

https://www.cnn.com/2019/03/25/tech/apple-credit-card/index.html

Agreed! Apple Credit Card has been a huge plus to me and my family. Everyone I know who saw what I told them switched too. (Friends/Family/etc). It is our primary CC and has been since it came out.

Mr. Cook is really good at keeping Apple profitable despite all the hate he gets here.

 

[M-Life]

An account has been created. For now, I have transferred all my Apple Cash to my savings account before touching my personal savings.

Why do I feel rich already?

View attachment 2189924

cause you are rich queen

 

[_Spinn_]

Anything on Joint Accounts. I opened the account and can access it but my wife’s phone wants to open a new account. There is no way to use just mine.

This is disappointing. My wife and I have a joint Apple Card so it would be nice to have a join Savings account as well.

 

[utsava]

All this information is under the Deposit Account Agreement, which is available before agreeing. Read it carefully.

Thanks. I was hoping to find this out without having to go through the sign-up process. I don't even have an Apple Card yet. Because of the way I use my accounts, the answer to this is important.

 

[gtgrad95]

Trying to transfer my existing Daily Cash balance to the new Savings account, but can't seem to figure out how. I don't see "Apple Cash" as a "from" option when I try to "Add Money" from inside the Savings UI.

Anyone else?

I'm having the same issue. No way to transfer from Apple Cash to Savings?

 

[TheYayAreaLiving 🎗️]

Does anyone have any regrets about not owning an Apple Card?

 

[supergt]

It’s probably not the most advisable financial position to have money you plan on spending soon invested, given fluctuations.

Pretty much anyone in the field, I believe, will tell you to have relatively short term living expenses — maybe even out to five years — in something like cash.

Agreed. You should always have an emergency fund readily available and for such a purpose a HYSA is a great option.

5 years seems high but to each their own. People buy houses, have medical emergencies, etc.

 

[Mitttim]

Does anyone know if you can track the savings account in Mint? I’ve just reached out to them to ask.

 

[BigMcGuire]

I'm having the same issue. No way to transfer from Apple Cash to Savings?

I was able to do this? Twice today already. <shrug>

In Savings --> Add Money ---- and Apple Cash shows as a place to add money from.

 

[RotaryP7]

It’s up btw. I might just move my Amex savings to this. Unless Amex matches Apple.

 

[Jay3846]

I haven't followed the Reg. D issue too closely, so I'm wondering if anyone here knows for sure...

For savings accounts, there is/was something called Regulation D that limited the amount of withdrawals or transfers from a savings account to six per month. I believe the regulation was relaxed back in 2020 (due to COVID) and some savings accounts allowed more (some, even unlimited) withdrawals/transfers from a savings account.

Does anyone know what the limit (if any) is on the number of monthly withdrawals/transfers for this new Apple Savings account?

Thanks!

 

[gtgrad95]

I was able to do this? Twice today already. <shrug>

In Savings --> Add Money ---- and Apple Cash shows as a place to add money from.

Yeah, only my linked bank account shows up when i do this.

 

[BigMcGuire]

Yeah, only my linked bank account shows up when i do this.

Make sure Apple Cash has $ in it (>$1). I noticed that's when it shows for me.

(Add $50 to Apple Cash from bank debit, then go to Savings --> Add Money) - and it was an option to add Apple Cash then for me. In the same place you usually get text suggestions when typing.

 

[utsava]

This is disappointing. My wife and I have a joint Apple Card so it would be nice to have a join Savings account as well.

Forgive my ignorance, as I don't yet have an Apple Card or Apple savings account, but would the inability to have a joint savings account mean that the Apple savings account could only be viewed/accessed on devices that are logged into my Apple ID even though my spouse would have a shared Apple Card (and is part of the family)? If so, that's really unuseful.

 

[Brad7]

Make sure Apple Cash has $ in it (>$1). I noticed that's when it shows for me.

(Add $50 to Apple Cash from bank debit, then go to Savings --> Add Money) - and it was an option to add Apple Cash then for me. In the same place you usually get text suggestions when typing.

Hmm weirdly I have less than $1 and can still switch it from my bank to Apple Cash. It doesn’t allow me to complete the transaction, though, until it’s $1.