How to apply for a Savings account

When you open a Savings account, earned Daily Cash will be automatically deposited to your account. You can manage your Savings account in the Wallet app, where you can easily track your account balance and interest earned over time.

How Savings works

When you set up Savings1, you agree to have future Daily Cash automatically deposited into your account — this allows you to earn interest on the Daily Cash that you get back from Apple Card purchases. You also earn interest on deposits you make to Savings from a linked external bank account or Apple Cash.2 There are no fees or minimum balance requirements.3

You can change where your Daily Cash is sent so that it's automatically deposited to your Apple Cash account at any time.

To access your Savings funds for spending or making purchases, transfer money from Savings to Apple Cash or a linked external bank account.4 You can use Savings to pay your Apple Card balance, but Savings funds can't be directly accessed through Apple Pay.

What you need to open and maintain an account

How to apply for Savings

  1. On your iPhone, open the Wallet app and tap Apple Card.

  2. Tap the More buttonthe More button, then tap Rewards & Offers.

  3. Next to Savings, tap Set Up, then follow the onscreen instructions.

When you open Savings, you'll be asked if you want to transfer funds from your Apple Cash balance to your new account to start earning interest on that money. If you don't want to transfer your Apple Cash balance, tap the Close buttonthe Close button. If you want to transfer funds, tap Transfer Your Apple Cash and follow the onscreen instructions.

If you have any Daily Cash available to redeem as an Apple Card statement credit, it will be transferred to your new Savings account when you set up Savings.

If your Apple Card account is restricted or locked, you may be unable to open a Savings account.

Deposit money into Savings

When you open Savings, you agree to automatically deposit Daily Cash that you earn into your Savings account. You can also add money to Savings from a linked external bank account or Apple Cash.

  1. On your iPhone, open the Wallet app and tap Apple Card.

  2. Tap Savings account, then tap Add Money.

    Savings Current Balance screen with Add Money button selected.

  3. Enter the amount that you want to add, then tap Next.

  4. If the payment method next to Transfer From is the one you want to use, tap Add.

    • To transfer money from your Apple Cash account instead, tap Transfer From.

    • Tap your Apple Cash card.

  5. Double-click the side button to transfer, then confirm with Face ID, Touch ID, or your passcode.

The money you deposit into Savings starts earning interest when the transfer is initiated from the Wallet app.

If you transfer money from Apple Cash, the funds are typically available instantly. If you transfer money from a linked external bank account, it will generally take a few days for funds to be available for withdrawal.

View your Savings account balance and interest earned

  1. On your iPhone, open the Wallet app and tap Apple Card.

  2. Tap Savings Account. From here, you can see your Current Balance. The Current Balance may include pending transactions or deposits, so the entire amount may not be available to withdraw immediately.

  3. Tap the More buttonthe More button, then tap Account Details to see your Available Balance. Your Available Balance is the amount that you can withdraw immediately. You can also see any interest you've earned this year and your current Annual Percentage Yield (APY).

Your interest is compounded daily and credited to your Savings account monthly.

Learn More

  1. To access Savings, Apple Card Owners and Co-Owners must open a Savings account. Savings accounts are provided by Goldman Sachs Bank USA, Salt Lake City Branch. Member FDIC. Apple Card Owners and Co-Owners may individually apply for a Savings account and are subject to eligibility requirements. By opening a Savings account, Apple Card Owners and Co-Owners are affirmatively electing to have all future Daily Cash automatically deposited into their respective Savings account. Daily Cash may not be divided between Apple Cash Card and Savings accounts. Owners and Co-Owners may individually change where their Daily cash is deposited at any time. Daily Cash is earned on purchases after the transaction posts to your account. Actual posting times vary by merchant. Daily Cash is subject to exclusions, and additional details apply. See the Apple Card Customer Agreement for more information. Savings accounts are not available in Guam, Northern Mariana Islands, or US Minor Outlying Islands. To set up Savings, you must add Apple Card to Wallet on an iPhone or iPad that supports and has the latest version of iOS or iPadOS.

  2. Apple Cash services are provided by Green Dot Bank, Member FDIC. Apple Payments Services LLC, a subsidiary of Apple Inc., is a service provider of Green Dot Bank for Apple Cash accounts. Neither Apple Inc. nor Apple Payments Services LLC is a bank. Learn more about the Terms and Conditions . Only available in the U.S. on eligible devices. To send and receive money with an Apple Cash account, you must be 18 and a U.S. resident. If you’re under 18, your family organizer can set up Apple Cash for you as part of their Apple Cash Family account, but you may not be able to access features that require a supported payment card. Security checks may require more time to make funds available. Apple Cash Family accounts can only send or receive up to $2000 within a rolling seven-day period. Tap to Cash transactions can only be used to send or receive up to $2000 within a rolling seven-day period. Other limits apply, see Terms and Conditions for details. To access and use all Apple Cash features, you must have an eligible device with Wallet that has the latest version of iOS.

  3. Maximum balance limits apply. See the Deposit Account Agreement for more information regarding balance limits.

  4. Transfer limits apply to Savings transfers to and from Apple Cash. Transfers may be subject to additional limitations; please see the Deposit Account Agreement for more information. For transfers to external banks, withdrawals from Savings typically occur within 1-3 business days; please contact your external bank regarding availability of funds sent from Savings.

  5. A valid street address must be in (i) the U.S.; (ii) the territories of Puerto Rico or United States Virgin Islands; or (iii) a U.S. military base or U.S. embassy (i.e., an Army/Air Post Office, Fleet Post Office, or Diplomatic Post Office address). You cannot use a post office box (other than on a U.S. military base or a Diplomatic Post Office).

To access and use all Apple Card features and products available only to Apple Card users, you must add Apple Card to Wallet on an iPhone or iPad that supports and has the latest version of iOS or iPadOS. Apple Card is subject to credit approval, available only for qualifying applicants in the United States, and issued by Goldman Sachs Bank USA, Salt Lake City Branch.

Apple Payments Services LLC, a subsidiary of Apple Inc., is a service provider of Goldman Sachs Bank USA for Apple Card and Savings accounts. Neither Apple Inc. nor Apple Payments Services LLC is a bank.

If you reside in the U.S. territories, please call Goldman Sachs at 877-255-5923 with questions about Apple Card.

Apple Pay is a service provided by Apple Payments Services LLC, a subsidiary of Apple Inc. Neither Apple Inc. nor Apple Payments Services LLC is a bank. Any card used in Apple Pay is offered by the card issuer.

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