Set up and use Savings in Apple Wallet

Earn interest on your Daily Cash and any additional deposits that you make when you set up a Savings account.¹ Savings provided by Goldman Sachs Bank USA, Member FDIC.²

How Savings works

When you set up Savings, you're agreeing 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.³ You'll also earn interest on deposits you make to Savings from a linked external bank account or Apple Cash.⁴ And there are no fees or minimum balance requirements.⁵

You can't spend money or make purchases in Savings directly through your Apple Card or Apple Pay. To access your funds, you can transfer money from Savings to Apple Cash or a linked external bank account.

If you have Apple Card Family

Only Apple Card Family account owners and co-owners can set up Savings. Savings accounts set up by Apple Card owners and co-owners are separate, individual accounts. Savings does not offer a joint account feature. Apple Card participants aren't eligible to set up Savings accounts.

What you need to open and maintain an account

• Be an owner or co-owner of an active Apple Card account, and add Apple Card to your iPhone.

• iOS 16.4 or later.

• Be at least 18 years or older.

• A social security number or individual taxpayer identification number.

• Be a U.S. resident with a valid, physical U.S. address.⁶

• Two-factor authentication set up for your Apple ID.

How to set up Savings

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

2. Tap the More button, then tap Daily Cash.

3. Tap Set Up next to Savings, 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 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, that Daily Cash will be transferred to your new Savings account when you set up Savings.

If your Apple Card account is restricted or locked, you may not be able to open a Savings account. If your Apple Cash or Savings account is restricted or locked, you may not be able to transfer money to or from Savings. To access your funds, you'll need to contact a Savings Support Specialist.

Deposit money into Savings

When you open Savings, you agree to automatically deposit Daily Cash that you earn into your Savings account.³ 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.

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

4. Choose the pre-selected external account, change it, or add a new one. If you still need to add a bank account, follow the steps in View and update your Savings account information in Apple Wallet.

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

Money you deposit into Savings starts earning interest on the day 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 button, then tap Account Details to see your Available Balance. Your Available Balance is the amount that you can withdraw immediately. You 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

• Transfer money from Savings to Apple Cash or your bank account

• View and update your Savings account information