Turned out I needed to verify my identity on the Apple Cash card -- I thought I needed to do-so on the Apple Card screens. All good now.
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Apple Card Savings Account Available Starting Today With 4.15% Interest Rate
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Yeah I think there are fringe cases where I'd certainly agree. Hence me not being 100% in line with that. That's one of my big problems with Dave Ramsey--his "one-size fits all" approach.
Is this available to Apple customers in UK and Europe or USA only ?
Apple today announced that the long-awaited Apple Card Savings feature is available starting today with an initial APY of 4.15%. The savings account has no fees, no minimum deposits, and no minimum balance requirements.
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The feature allows Apple Card users to open a high-yield savings account from Goldman Sachs in the Wallet app on their iPhone and start earning interest on their Daily Cash balance. Users can also earn interest on personal funds deposited into the savings account through a linked bank account, or from their Apple Cash balance.
To open a savings account in the Wallet app, users will tap on the Apple Card, tap on the circle with three dots at the top of the screen, tap Daily Cash, and select Set Up Savings. Once the account is set up, all Daily Cash received from that point on will be automatically deposited into it and start earning interest. If they prefer, users can choose to have Daily Cash added to their Apple Cash balance instead at any time.
Apple Card Savings allows a maximum balance of $250,000, and balances are insured by the FDIC. To access funds stored in the account, users can transfer money to their Apple Cash balance or to a linked external bank account. There are no fees for withdrawals.
Apple Card Savings requires an iPhone with iOS 16.4 or later and is available to U.S. residents who are 18 years of age or older. Apple has published a support document with additional information about the feature.
Article Link: Apple Card Savings Account Available Starting Today With 4.15% Interest Rate
how so....? other then the amount of available credit used i'm not sure it matters much.. i mean the number of payments made in a month should not matter..... I can go further to say your balance is reported monthly to the credit bureau so 1 payment or two smaller ones wont change anything. The main thing it will change is how much interest you pay if you carry a balance.
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You would be losing money then. That % doesn't even keep up with inflation. You need to see a good financial planner and get in the market. Just my humble opinion.
Do NOT under any circumstances leave money on PayPal. There are far too many horror stories associated with them.
It is clearly stated....
Apple Card Savings requires an iPhone with iOS 16.4 or later and is available to U.S. residents who are 18 years of age or older
Just created my savings account. This is great
I was gonna do the same, but I am going to start out low first then add over time.
This is the only thing that’s holding me back. I have the account now, but have to call them still.
Giggling at the "Might do few k and see how it goes" posts.
Hey! Math will tell you how it will go.
Hey! Math will tell you how it will go.
Likely not. We still cannot track Apple Card purchases in Quicken. And the savings account is not run through Marcus and there is not other likely Goldman Sachs bank to link to (even if we knew what credentials to use).
I'd never trust PayPal with any meaningful amount of money.
Frequency of payments on said account is seen as a positive.
Just off the phone with Apple. Under your Apple Cash in your wallet, once you click the three little dots in the upper right hand corner, select "Card Details". Scroll down until you see something that says "verify". If you do, you'll need to verify your legal name, enter your address and finally, the last 4 of your social. Then, when you attempt to add your Apple Cash, you'll see it pop up and you can select it and transfer it over.
Depending on the individual, $50k isn't necessarily that much to keep in a savings account. You should have emergency funds that aren't invested in case your investments go south. Six months to a year of liquid cash would be considered playing it pretty safe. If you only have $50k, then probably invest a percentage of it that makes sense with your spending to income ratio in an index fund or something of the sorts. You can probably tell by my icon where I'd put it.
depending on your checking account ,you sh
No there are limits on savings accounts transactions.
RTN and Account numbers are available in the Wallet card:
Apple Card -->
Savings Account -->
(...) -->
Account Details -->
Routing & Account Numbers
Can also manage external linked bank accounts and beneficiaries here.