The new high-yield savings account, developed by Apple and investment bank Goldman Sachs, will allow Apple Card holders to earn and save money from their daily cash, or the cash reward gotten from their purchases using the Apple Card, and then access that money through the Apple Wallet at no Fees (charges), minimum deposit amounts, or balance requirements. Which is part of the company’s effort to attract more Apple users by offering them financial services.
In a press release issued today, the corporation confirmed the news and said the service would be accessible in the “Coming Months,” but it didn’t specify when exactly.
Apple, aware of the surging inflation, is seizing the opportunity to invest in rising rates.
Once the new savings account is live, users will be able to see the dashboard showing their account balance and interest accrued right from the Apple Wallet.