Apple Card's new high-yield savings account from Goldman Sachs has been confirmed.
The giant iPhone maker announced this new service on Oct. 13, saying that the account will allow users to grow their rewards in the Apple Wallet.
"Savings enables Apple Card users to grow their Daily Cash rewards over time, while also saving for the future," said Apple Pay Vice President Jeffiner Bailey.
She added the new savings account would make Apple Card benefits more valuable. Bailey also said it will offer an easy-to-use tool to help users "lead healthier financial lives."
New Apple Card High-Yield Savings Account Confirmed
According to Engadget's latest report, the new Apple Card savings account from Goldman Sachs will allow consumers to grow their funds.
The giant tech firm confirmed that this new enhancement would be available in the United States in the coming months.
But Apple didn't confirm the exact launch date yet. Although this is the case, there's a chance that the new high-yield savings account will arrive before 2022 ends.
Apple Card consumers can benefit from it by saving their Daily Cash in the new financial account.
They can either have their Daily Cash automatically deposited or have their money manually transferred from a linked bank account or Apple Cash balance.
How Does Apple Card Savings Account Work?
The official Apple Newsroom explained that consumers could use their Apple Cards to set up their savings accounts.
Once they have their own savings account from Goldman Sachs, they can withdraw their funds any time they want.
This new enhancement is exciting because there are no minimum deposit or balance requirements. Consumers can spend, send, and save Daily Cash directly from the Apple Wallet.
If you want to learn more about the new Apple Card high-yield savings account, you can visit this link.
In other stories, Tim Cook recently explained that the Apple Card remains U.S.-exclusive.
Meanwhile, it was confirmed that Apple Card users could appeal disputes that were not resolved.
For more news updates about Apple Card and other related business tech topics, keep your tabs open here at TechTimes.
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Written by Griffin Davis
