Apple Card Introduces High-Yield Savings Account with Market-Leading 4.15% Interest Rate

Apple Card Introduces High-Yield Savings Account with Market-Leading 4.15% Interest Rate

In April 2023, Apple introduced a high-yield savings account that offers a market-leading annual percentage yield (APY) of 4.15%. The account is available to Apple Card users and is administered by Goldman Sachs.

The interest rate on the Apple Card savings account is significantly higher than the national average of 0.42% (as of June 2023). This means that for every $1000 you deposit in the account, you can expect to earn an interest of $41.50 per year.

The Apple Card savings account has no fees, no minimum deposits, and no minimum balance requirements. You can easily set up and manage your account directly from the Apple Card app.

Since its launch, the Apple Card savings account has seen over $10 billion in deposits. This is a testament to the high interest rate and the convenience of the account.

If you are looking for a high-yield savings account, the Apple Card savings account is a great option. You can earn more interest on your savings and you can easily manage your account from your iPhone or Apple Watch.

Here are some of the key features of the Apple Card savings account:

  • Market-leading APY of 4.15%
  • No fees
  • No minimum deposits
  • No minimum balance requirements
  • Easy to set up and manage through the Apple Card app

If you are an Apple Card user, I encourage you to open a savings account today. You can earn more interest on your savings and you can easily manage your account from your iPhone or Apple Watch.

A new high-yield savings account for Apple Card users was announced on Monday by Apple and Goldman Sachs. You might be thinking about what this all method.

Simply put, you can now deposit your Daily Cash rewards into a savings account with a 4.15 percent annual percentage yield (APY), which is Apple’s name for the small cashback amounts you receive for using an Apple Card.

That is a rate that is significantly higher than what you would get if you kept your money in a standard savings account at a conventional bank. As a place of examination, Bank of America gives you a measly 0.01% APY. However, be cautioned: Apple stated that it can alter its APY at any time.

More importantly, Apple will allow you to add funds to this high-yield savings account directly from your existing bank account. This means that you can simply deposit tens of thousands of dollars (up to $250,000) into the account and expect to receive substantial returns. I’d love to hear from you if you decide to put a significant amount of money into an Apple high-yield savings account

The latest step in Apple’s expansion into financial services is this move. Apple Card now includes a “buy now, pay later” service that lets you pay for your purchases over six weeks without incurring interest. That component put the tech monster in rivalry with organizations like Klarna and Certify.

“We want to fabricate devices that assist clients with having better monetary existences, and incorporating Reserve funds into Apple Card in Wallet empowers them to spend, send, and set aside Day to day Money straightforwardly and flawlessly — all from one spot,” Jennifer Bailey, Apple’s VP of Apple Pay and Apple Wallet, said in an explanation.

The component is at present just accessible in the US. It’s important to remember that Apple’s APY isn’t the best. Be that as it may, assuming you as of now have Day to day Money from utilizing your Apple Card, reserving it into a bank account open straightforwardly from the Wallet application on your iPhone is an easy decision.

Apple card benefits

The Apple Card offers a variety of benefits, including:

  • Unlimited 3% Daily Cash back: You earn 3% Daily Cash back on all purchases made with Apple Card at Apple Stores, on Apple.com, and in select merchants when you use Apple Pay. You also earn 2% Daily Cash back on all other purchases made with Apple Card when you use Apple Pay.
  • High-yield savings account: You can earn a market-leading APY of 4.15% on your Apple Card savings account.
  • No annual fee: There is no annual fee for the Card.
  • No late fees: There are no late fees for the Card.
  • No foreign transaction fees: There are no foreign transaction fees for the Apple Card.
  • Simple, easy-to-use app: The Apple Card app makes it easy to track your spending, make payments, and manage your account.
  • Compelling design: The Apple Card is a beautifully designed credit card that is sure to turn heads.

Here are some of the other benefits of the Apple Card:

  • Daily Cash is real cash: You can use Daily Cash to make purchases, pay bills, or transfer it to your bank account. It never expires or loses its value.
  • Daily Cash is automatically deposited: You don’t have to remember to redeem your Daily Cash. It is automatically deposited into your Apple Cash card every day.
  • Apple Card Monthly Installments: You can choose to pay for eligible purchases over time with Card Monthly Installments. This can help you spread out the cost of a large purchase and make it more affordable.
  • Family Sharing: You can share your Card with your family members. This can help you keep track of your spending and make it easier to pay bills.

Overall, the Apple Card is a great option for people who are looking for a credit card with no annual fee, no late fees, and no foreign transaction fees. It also offers some unique benefits, such as unlimited 3% Daily Cash back and a high-yield savings account.

However, it is important to note that the Card is not available in all countries. It is currently only available in the United States.

Apple card customer service

There are a few ways to contact Apple card customer service:

Apple card customer service
card customer service
  • Call 877-255-5923. This is the toll-free number for Apple customer service. You can call this number 24 hours a day, 7 days a week.
  • Chat with a customer service representative online. You can chat with a customer service representative online by going to the Apple website and clicking on the “Contact Us” link.
  • Send an email to customer service. You can send an email to customer service by going to the Apple website and clicking on the “Contact Us” link.
  • Message a customer service representative through the Apple Card app. Open the Apple app on your iPhone or Apple Watch and tap the “Contact Us” button.

When you contact Apple Card customer service, be sure to have your Card number and other relevant information ready. The customer service representative will be able to help you with any questions or issues you have with your account.

Here are some of the common reasons why people contact Card customer service:

  • To make a payment
  • To report a lost or stolen card
  • To dispute a charge
  • To request a credit limit increase
  • To ask about interest rates or fees
  • To get help with the Apple app

How to remove card from apple pay

To remove a card from Apple Pay, you can follow these steps:

  1. Open the Wallet app on your iPhone or iPad.
  2. Tap the card you want to remove.
  3. Tap the More button (three dots) in the upper-right corner.
  4. Tap Remove This Card.
  5. Tap Remove to confirm.

You can also remove a card from Apple Pay on your Mac:

  1. Open the System Preferences app.
  2. Click on Wallet & Apple Pay.
  3. Click on the card you want to remove.
  4. Click on the Remove button.

If you have an unpaid balance on the card, you will not be able to remove it from Apple Pay. You will need to pay off the balance before you can remove the card.

Once you have removed the card from Apple Pay, you will no longer be able to use it to make payments in stores or online. However, the card will still be active and you can continue to use it to make payments by entering the card number manually.

If you want to close your Apple Card account completely, you can contact Apple Card customer service. They will be able to help you close your account and remove the card from your credit report.

Here are some things to keep in mind when removing a card from Apple Pay:

  • If you remove a card from Apple Pay, you will also remove it from any other devices that are linked to your Apple ID.
  • If you remove a card from Apple Pay, you will not be able to use it to make payments in stores or online using Apple Pay.
  • If you have an unpaid balance on the card, you will not be able to remove it from Apple Pay. You will need to pay off the balance before you can remove the card.
  • If you want to close your Apple Card account completely, you can contact Apple Card customer service. They will be able to help you close your account and remove the card from your credit report.

FAQS

Here are some FAQs

  • Who is eligible for Apple Card? Apple is currently available to US citizens or permanent residents who are at least 18 years old and have a credit score of 600 or higher.
  • What are the benefits of Apple Card? The Card offers a variety of benefits, including:
    • Unlimited 3% Daily Cash back on all purchases made with Card at Apple Stores, on Apple.com, and in select merchants when you use Apple Pay.
    • High-yield savings account: You can earn a market-leading APY of 4.15% on your Card savings account.
    • No annual fee: There is no annual fee for the Apple.
    • No late fees: There are no late fees for the Card.
    • No foreign transaction fees: There are no foreign transaction fees for the Card.
    • Simple, easy-to-use app: The Card app makes it easy to track your spending, make payments, and manage your account.
    • Compelling design: The Card is a beautifully designed credit card that is sure to turn heads.
  • How do I apply for Apple Card? You can apply for Card online or in the Apple Store. To apply online, you will need to provide your name, address, social security number, and other relevant information.
  • How do I use Apple Card? You can use Card to make purchases in stores or online. To make a purchase in stores, simply tap your Card on the contactless reader. To make a purchase online, enter your Apple Card number and CVV code.
  • How do I track my spending with Card? You can track your spending with Card through the Card app. The app shows you a breakdown of your spending by category and merchant. You can also set spending limits and alerts.
  • How do I make a payment on my Apple Card? You can make a payment on your Card through the Card app, online, or by calling customer service.
  • How do I get help with Apple Card? If you have any questions or problems with your Card, you can contact customer service. You can reach customer service by calling 877-255-5923 or by chatting online.

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