Apple Delays Daily Cash Savings Account for Apple Card Users

[MacRumors]

Apple has delayed a new feature that will provide Apple Card users with the option to have their Daily Cash earnings deposited into a high-yield savings account.

During the iOS 16.1 beta testing process, the feature was mentioned as a new Wallet app addition in the release notes for the Release Candidate version of the update, but in the notes for the final version of iOS 16.1, the mention is missing.

"Savings account enables Apple Card customers to grow their Daily Cash by depositing it in a high yield savings account," read the RC release notes.

Apple announced plans for the Apple Card savings account in mid-October, and while the company did not provide specific information on a launch date in the announcement other than suggesting it would be available "in the coming months," it was believed that the savings account would launch alongside iOS 16.1 given the mention in the RC notes for the update.

With no sign of the feature in iOS 16.1, it will now be coming at a later date. When Apple does implement the Apple Card savings account, it will have no minimum fees, no minimum deposits, and no minimum balance requirements. Apple will offer the account through Apple Card partner Goldman Sachs, but Apple has not yet said what the interest rate will be.

Apple Card users will be able to manage their savings accounts through the Wallet app, and once set up, all Daily Cash will be automatically deposited.

Article Link: Apple Delays Daily Cash Savings Account for Apple Card Users

 

[sniffies]

This is the one feature I looked forward to in iOS 16.1

 

[BF1M]

Of ****ing course. The one feature worth being excited about and least likely to be screwed up at launch…

 

[dantracht]

Story of apple recently. Announce features and then delay them and delay them and delay them.

 

[TheYayAreaLiving 🎗️]

Dang! I was ready to save up my money. Now what do I do? 🙄

 

[Sasparilla]

Did read an article about Goldman deciding to tighten up its consumer facing banking side (which includes Apple stuff), nothing specific was listed out of it, but the timing makes one wonder if that is what we're seeing here. This section of Goldman's was their ownly money loosing side if memory of the article serves (hence the call to fix things there).

Dang! I was ready to save up my money. Now what 🙄

Into Apple Cash it goes.

 

[TonyC17]

Bummer. Was actually looking forward to this one

 

[applicious84]

Delay features and benefits; expedite price hikes. Nice.

 

[Legion103]

Was looking forward to this today. Damn!

 

[ZircoBen]

I was actually anxiously awaiting this, ever since I heard the feature was dropping.

 

[BF1M]

Delay features and benefits; expedite price hikes. Nice.

Nice and on brand. It's the Apple we keep trying to convince ourselves isn't the real Apple. This is them now. An endless stream of "updated" hardware, rising prices and half assed software updates.

 

[lanegandy]

I don't think they delayed anything? In the press release, they said it would be available "in the coming months". They never announced it would launch with iOS 16.1

 

[mansplains]

They had to delay the feature since the UI mockups didn't include spaces for ads.

 

[DocMultimedia]

Until they provide info about the interest rate it's still entirely up in the air. I'm guessing it won't be "high" as they say so I won't bother with it. A 5% dividend stock is a better option IMO

 

[neoelectronaut]

Well durn, I was looking forward to checking this out.

 

[msackey]

Story of apple recently. Announce features and then delay them and delay them and delay them.

So long as these new features do not go the way of AirPower, we be good....

 

[ProfessionalFan]

Story of apple recently. Announce features and then delay them and delay them and delay them.

They got those price hikes today activated and ready instantly. Bet the upcoming ads also go live without an issue.

 

[BF1M]

So long as these new features do not go the way of AirPower, we be good....

Over promise, under deliver? Or never deliver? Have you not been paying attention, that's Apple these days. Updated to 16.1 yet? Go ahead, try to share your photo library see what happens lol. HomeKit? Still worthless. I can go on and on

 

[Mattrg]

Dang! I was ready to save up my money. Now what do I do? 🙄

Buy the new Apple Watch?

 

[BF1M]

They got those price hikes today activated and ready instantly. Bet the upcoming ads also go live without an issue.

Right? I've never gone to pay for something with Apple and had it crash or fail to go through, that money flies right out of my account.

 

[SnappleRumors]

Of ****ing course. The one feature worth being excited about and least likely to be screwed up at launch…

Nothing exciting about moving daily cash into a 2.3% apy. Those using the Apple Card might as well apply it to their balance.

 

[BWhaler]

And yet they shipped Stage Manager?

 

[ProfessionalFan]

Nothing exciting about moving daily cash into a 2.3% apy

2.3% beats 0% which it currently is

 

[BF1M]

Nothing exciting about moving daily cash into a 2.3% apy. Those using the Apple Card might as well apply it to their balance.

That literally made no sense.

 

[compwiz1202]

Of ****ing course. The one feature worth being excited about and least likely to be screwed up at launch…

Exactly it's something to benefit some customers, so they can't have that. But can sure as heck pump out price increases