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

[dannyyankou]

Go to Apple Card, hit the ... on the top right and choose: Daily Cash.

It's one of those options on that screen. If it doesn't show up right away, close your Wallet app and re-open. It appeared the second time for me.

I don't see it yet, but I never knew it shows your lifetime Daily Cash received. And it's completely inaccurate, it says $56.02. I bought a MacBook a few months ago that earned more cash on that alone haha. I wonder if it resets if you restore your device.

 

[sw1tcher]

I'm not good at Math. If I deposit $250,000.00 USD. How much Savings % that is going to earn me in 12 months?

$10,592.68

I believe since they are giving yield, you can do a straight calc (250,000*(1.0415-1)=$10,375

Thank you! I thought it was going to be alot higher. Still not enough to afford a Fully Spec Mac Pro 🤨

Wait. If the maximum balance Apple says you can have in the account is $250,000, wouldn't the correct answer be $0.00 since any interest earned would put your balance over the $250,000 limit? 🤔

Apple Card Savings allows a maximum balance of $250,000, and balances are insured by the FDIC.

.

 

[Tokenfreak]

That is weird. My wife didn't have to close her app - she saw it right away. I had to close mine (swipe up to close app). <shrug> :/

Yeah I swiped to close and reopened. This is all I see

 

[_Spinn_]

Still not seeing the option...Tried closing and reopening the Wallet app like others suggested.

 

[decypher44]

I Just got account option to show up in Midwest US. I got the account set up, but the balance shows $0. Not sure when the Daily Cash is supposed to move over. The support document said it would happen automatically. I am also not seeing an option to schedule deposits (for example, $100 every month) which would be a nice option.

If that’s accurate, it’s very disappointing!! Maybe it’ll be a future feature.

 

[ericg301]

but we can't pay our apple credit card with this savings account correct? so still need a checking account middle man?

 

[Brad7]

Omg the signup went away for me

 

[Brad7]

but we can't pay our apple credit card with this savings account correct? so still need a checking account middle man?

We can’t?? That doesn’t seem right. Hope they let us do that.

 

[k1121j]

I don't see it yet, but I never knew it shows your lifetime Daily Cash received. And it's completely inaccurate, it says $56.02. I bought a MacBook a few months ago that earned more cash on that alone haha. I wonder if it resets if you restore your device.

it also disappears too :-/

 

[Morac]

The splash screen says it’s a 4.15% APY, but the small text below says the current interest rate is 4.07%. Both are lower than the 4.25% I get with my current savi account.

I tried to sign up anyway and got a “Savings Unavailable. Apple Pay services are currently unavailable. Please try again later” error.

 

[minik]

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.

I followed the steps on Set up and use Savings in Apple Wallet, but didn't see Savings at first. Reboot my iPhone, the Saving option showed and then 'Apple Pay services are currently unavailable. Please try again later'. There must be a lot of demand.

 

[Tokenfreak]

Finally showed up for me on iOS 16.5

 

[izzle22]

Yeah I swiped to close and reopened. This is all I see

Same for me. I'm in the Midwest as well so I don't think it matters what region your in. I think it's just randomly allowing people to open.

 

[dannyyankou]

it also disappears too :-/

Yeah I'm noticing that now. Apple Cash is very glitchy, sometimes past transactions disappear and you need to close and reopen the app to get them to load.

Search is also a pain with Apple Card.

 

[BigMcGuire]

but we can't pay our apple credit card with this savings account correct? so still need a checking account middle man?

We can’t?? That doesn’t seem right. Hope they let us do that.

Yeah no option yet, but I guess the course of action is to transfer Savings to Apple Cash, then use Apple Cash to pay Apple Card balance. Hopefully they make that easier in the future, lol.

 

[jpr281]

All the big banks think they serving their customer with below 1%
interest.

They know exactly what they're doing.

 

[k1121j]

looks like its a but busy today. I finally got the account application to go through, got the welcome to your apple saving email. still not showing on my phone i have an account yet.. ill wait a bit more

 

[alexandr]

a sad story in two parts 😂

View attachment 2189892

hope it’s working for you now man, sadly not surprised to see Apple has announced this and tons of people are having problems with actually setting it up

Damn, I look good! Touché though

 

[thesheleys]

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.

 

[Camerondonal]

Years in and there's still zero sign of the Apple Card ever leaving the United States. I was puzzled by this for a long time - Apple is such an international company after all. But it turns out that there's a simple reason: Apple set such stringent terms that the Card has been a big ole money loser for Goldman Sachs - and naturally, other banks don't want to touch it !

 

[MisterSavage]

Dang, I was going to wait until I knew the rate, if it was lower, I’d go through Marcus. But I’m happy with this, goodbye Chase Savings.

Moving my saving account money into a high yield savings account was such a good decision. It was laughable looking at the interest earned in the old account.

I currently have four credit cards and haven't paid a dime in interest in over a decade, but I get all the rewards. I pay them off twice per month.

Treat them exactly like a debit card and you wont have an issue.

Exactly. You always see those kind of posts when credit cards are mentioned. Credit cards are definitely not a good idea for some people but for those of us who pay them off every month they're great. I've bought two flights to Europe with points and have enough for another go easily.

I'm really surprised that they are offering a higher rate than Marcus. You'd think they would have offered a slightly lower rate to account for the Apple layer on top of the savings account.

That really surprised me also!

 

[decypher44]

Got mine open (CA). Haven’t received an email, but it’s there. Somehow, it has 0.27 in it. Maybe that’s a requirement. I only have 0.94 on my Apple Cash as I just transferred funds to my bank account on Friday. Minimum transfer is $1. I did request a funds transfer from my checking account, and it says can take 1-3 days.

 

[Return Zero]

Mine is finally active too. It kept giving me the unavailable message at first.

 

[Agile55]

I signed up but can’t see the account on my iPhone. I got the email saying welcome though.

Same here 30+ mins ago, want to move some coin into it from a Marcus account so hopefully they will fix that.

 

[LegacyDroid]

Just open saving account and deposit it

Sweet!