The Apple Savings account is here! Should you apply? Watch me go through the application process, set everything up, and review the full experience so you can decide if it’s right for you! Click “Show More” to see Ad Disclosure, links, and additional information below.
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🔗 PRESS RELEASE (Apple Newsroom) – Apple Card’s new high-yield Savings account is now available, offering a 4.15 percent APY
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The Apple Savings account was first announced on October 13, 2022 and later launched on April 17, 2023 with an impressive 4.15% APY. Of course, since interest rates change over time, that rate may be different in the future.
Since Apple itself isn’t in the primary business of banking, Goldman Sachs Bank USA is the backing bank for the Apple Savings account, and you manage it from the Wallet app on your iOS device.
APPLE SAVINGS ELIGIBILITY / APPLE SAVINGS ACCOUNT REQUIREMENTS
– You are an Owner or Co-Owner of an active Apple Card account
– You have an Apple Card added to your iPhone or iOS device
– You’re 18+ years old
– You have an SSN or ITIN
– You’re a U.S. resident w/ a physical U.S. address
– You have 2-factor authentication set up for your Apple ID with the latest version of iOS.
🔗 Apply for the Apple Card here: https://www.apple.com/apple-card/
APPLE SAVINGS ACCOUNT BENEFITS
– No minimum opening balance
– No minimum balance requirement
– No monthly maintenance fees
– Seamless integration with Apple Card and Wallet app
– High-yield APY rates
– FDIC insured up to $250K (this is the maximum deposit limit)
APPLE SAVINGS HOW TO APPLY
1. Open Wallet app
2. Tap Apple Card
3. Tap More in top right (3-dots icon)
4. Select Daily Cash
5. Choose Set Up next to Savings
6. Follow the instructions
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#applesavings #applecard #savings
40 Comments
😊
Yo
A decent interest rate, but I don't have an Apple Card and don't plan to get one.
I set up my Apple Savings account yesterday. While not the highest APY, Apple does offer amazing freedom and ease of use.
I like how it compounds daily, there is no obligation balance or period, and my Apple Cash no longer has to sit around once I earn it.
Good demo Mark!
Guess $4B in 4 days is enough to exclude non-card holders, which is fine. Waiting a full year for about 4% is crazy and doesn't beat inflation. Better ways for cash to earn more!
I love my Apple Card Savings Acct 🙂 Already saving a good amount of cash 😊
Thanks I did not know where the savings account was lol Now it is opened and set up
I think people with the Apple Card who want a seamless setup should go for it!
I would honestly consider, sofi has a new upgraded 4.2% savings yield and the new discover savings account at 3.75% with a bonus of up to $200, once 15-20K is deposited.
I have other options already if I want to stash money somewhere a few credit unions and banks of mine offer this.
It was tempting as this is the highest interest rate i am aware of for big name bank (to me) with money that's truly assessble anytime. However, RJ financial has me convinced: no SUB for two accounts especially one with a hard pull has too much opportunity cost. And fortunately, two weeks after, SOFI announced 4.2% APY, I guess not moving to apple/marcus was a good decision to me 😂 that said, if apple removes the CC requirement, I will do the move as I still think GS is more reliable than SOFI
If I still had my Apple Card, it would have been a no brainer.
Thanks so much for this informative video. Would this Apple Savings account be accessible on Mint? (In the past I've had problems accessing my Apple/Goldman Sachs account but that seems to have been resolved. Not sure if this new Savings account will be accessible).
Absolutely banger breakdown my man. Appreciate the content. I think I’ll be setting this up myself
Apple & Goldman Sachs need a Checking account and a physical Debit Card now😁
Hey Mark, not sure why but there is no option to open the savings account on my apple credit card! Do you know why it wouldn’t let me??
Goldman collapsed before. Be careful
It irks me that the Apple savings acct is at an APY of 4.15% while my Marcus is at 3.90% APY when they're both managaed byr Goldman Sachs.
I have 7.5% of my paycheck direct deposited into my Apple HYSA while the rest are going into my main banks checking account. Great way to not consistently look at something I'm growing.
Can u add an authorize person into ur Apple credit card ?
Just applied and received an Amex card. Should I wait before applying for an Apple Card?
Anybody know how to open a savings on an iPad? It’s different then iPhone instructions.
Hi When will this card be launched in UK
It took me a couple of tries, but finally got it to work. So easy to use.
You can take out money from apple saving account anytime?
As with every Apple product, this seems to be a super clean interface. If I had the Apple Card I'd do this right away, but I won't go out of my way for it at the moment. Nice breakdown Mark!
Very clear, concise, and retard proof presentation. Thanks.
Is there a way to access your account on a computer?
Kind a dumb question? I have a Samsung galaxy phone. Can I apply for a apple card and use Apple's new saving account? Thanks!
Hey Is it possible to have the virtual Apple Card only and not the physical card?
Is apple saving account CD ?
Or just regular savings account that you can access any time ?
After earning a whopping 37 cents on my 25k emergency fund in my TD Bank savings, I’m rolling it all over to this savings account. I had only $200 in there so far from my cash back earnings and already earned 20 cents for the month. This is a no brainer. When you deposit over 5,000, it will ask you if you are employed. In case drug dealers try to launder their earnings from the IRS. 😂
I don’t even see this option🤔. When I go to Daily Cash right under lifetime received is the get more from Apple Card stuff🤷🏽♂️
Does the money have to sit for any period without penalty or can it be pulled whenever like a regular savings
when I tap "more" button, I do not have the same drop list as I do but instead go straight to apple card setting. Is it because I am using a really old Iphone SE?
Do I have to actually use the Apple credit card in order to use the savings? Or do I just have to open it?
is there an credit inquiry to open this account if youve had the apple credit card for a long time ?
Sofi savings account is the same, 4.20 yield. and no fees for the longest time but when Apple does it its like something revolutionary
Great video. Thank you.
Easiest Bank account I’ve ever opened. Transaction went smoothly