Apple collaborates with Goldman Sachs to offer high-yield savings accounts to Apple Card holders

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Apple is taking a significant step toward providing its customers with more banking services. The company announced a collaboration with Goldman Sachs to launch a new Savings account feature for Apple Card credit cardholders that will allow them to save and grow their “Daily Cash” — the cashback rewards earned from Apple Card purchases.

In the coming months, Apple says cardholders will be able to automatically save this money in a new, high-yield Savings account from Goldman Sachs that will be accessible through Apple Wallet. Customers will also be able to deposit their own funds into this account. According to Apple, the account will have no fees, minimum deposits, or minimum balance requirements, making it somewhat competitive with a variety of neobanks, which are frequently used as a way for customers to park their digital cash and earn money through interest payments.

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Apple collaborates with Goldman Sachs to offer high-yield savings accounts to Apple Card holders

Apple is taking a significant step toward providing its customers with more banking services. The company announced a collaboration with Goldman Sachs to launch a new Savings account feature for Apple Card credit cardholders that will allow them to save and grow their “Daily Cash” — the cashback rewards earned from Apple Card purchases.

In the coming months, Apple says cardholders will be able to automatically save this money in a new, high-yield Savings account from Goldman Sachs that will be accessible through Apple Wallet. Customers will also be able to deposit their own funds into this account. According to Apple, the account will have no fees, minimum deposits, or minimum balance requirements, making it somewhat competitive with a variety of neobanks, which are frequently used as a way for customers to park their digital cash and earn money through interest payments.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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