Save and earn your Daily Cash in one convenient place
originally announced back in October 2022
as a way for Apple Card owners to save their Daily Cash rewards and grow them “in a high-yield Savings account from Goldman Sachs.” Some speculated the APY would be, but as it turns out, it’s actually 4.15 percent which the company claims is currently “more than 10 times the national average”. Be aware the APY isn't set in stone as it could jump up or dip at any time in the future.
Apple states the new accounts will be protected by the same level of robust security users expect from the company. Since these accounts are being managed by Goldman Sachs,by the Federal Deposit Insurance Corporation . So if by some freak occurrence, Apple’s financial endeavors implode, your money is covered by the FDIC. There are some limitations. First, only people living in the United States can create a Savings account since that is the only country where Apple Card is available.
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