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frontpageSUCHaDEAL posted Apr 17, 2023 02:14 PM
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frontpageSUCHaDEAL posted Apr 17, 2023 02:14 PM

Apple Card Savings Account:

(No Minimum Deposits)

4.15% Interest

Apple Store
527 Comments 328,197 Views
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Deal Details
Apple is offering an Apple Card Savings Account with 4.15% Interest.

Thanks to Community Member SUCHaDEAL for finding this deal.
  • High-yield APY of 4.15%
  • No Fees
  • No Minimum Deposits
  • No Minimum Balance Requirements
  • No Foreign Transaction Fees
What you need to open and maintain an account:
  • Be an owner or co-owner of an active Apple Card account and add Apple Card to your iPhone.
  • Be at least 18 years or older.
  • Have a social security number or individual taxpayer identification number.
  • Be a U.S. resident with a valid, physical U.S. address.
  • Set up two-factor authentication for your Apple ID and update to the latest version of iOS.
How to set up Savings:
  • On your iPhone, open the Wallet app and tap Apple Card.
  • Tap the More button, then tap Daily Cash.
  • Tap Set Up next to Savings, then follow the onscreen instructions.
  • Additional Setup Information

Editor's Notes

Written by SlickDealio
  • About the deal:

Original Post

Written by SUCHaDEAL
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Apple is offering an Apple Card Savings Account with 4.15% Interest.

Thanks to Community Member SUCHaDEAL for finding this deal.
  • High-yield APY of 4.15%
  • No Fees
  • No Minimum Deposits
  • No Minimum Balance Requirements
  • No Foreign Transaction Fees
What you need to open and maintain an account:
  • Be an owner or co-owner of an active Apple Card account and add Apple Card to your iPhone.
  • Be at least 18 years or older.
  • Have a social security number or individual taxpayer identification number.
  • Be a U.S. resident with a valid, physical U.S. address.
  • Set up two-factor authentication for your Apple ID and update to the latest version of iOS.
How to set up Savings:
  • On your iPhone, open the Wallet app and tap Apple Card.
  • Tap the More button, then tap Daily Cash.
  • Tap Set Up next to Savings, then follow the onscreen instructions.
  • Additional Setup Information

Editor's Notes

Written by SlickDealio
  • About the deal:

Original Post

Written by SUCHaDEAL

Community Voting

Deal Score
+348
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Top Comments

virals1012
411 Posts
3621 Reputation
Here are the links to get started opening this account:

https://learn.applecard.apple/benefits

https://wallet.apple.com/setup/feature/savings
CTownIntegra
16 Posts
80 Reputation
Sign ups are live. In the wallet app, select your Apple Card, go to the top right menu and hit Apple Cash, and change redemption to savings. Enter your social and you're done.
qkumbr
3438 Posts
1659 Reputation
The account is backed by Goldman Sachs - a bank.

526 Comments

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Apr 17, 2023 06:33 PM
1,665 Posts
Joined May 2010

This comment has been rated as unhelpful by Slickdeals users.

Apr 17, 2023 06:33 PM
3,827 Posts
Joined Jul 2005
corazonesApr 17, 2023 06:33 PM
3,827 Posts
Can't wait til FedNow go live. Transfer time between banks still so slow in USA. Btw Wire transfer fee is a ripoff
Apr 17, 2023 06:35 PM
1,884 Posts
Joined Jun 2014
gorillatechmanApr 17, 2023 06:35 PM
1,884 Posts
Quote from ben_r_ :
Interest is paid monthly it looks like (LINK [apple.com]):
Interest that you earn is compounded daily and credited to your Savings account monthly.
I was reading through some of those same documents earlier, and yes, it looks like the interest will be paid out monthly, though it is compounded daily.
1
Apr 17, 2023 06:36 PM
4 Posts
Joined Jul 2012
snsdfan00Apr 17, 2023 06:36 PM
4 Posts
Quote from just10credible :
Any reason to believe this 4.15 rate won't continue to increase as the industry does? I currently have Ally for my HYSA but they're only at 3.75 now. But would hate to move the money to Apple then Ally goes to 4.25 or something.
unless you have millions of dollars, i doubt the interest will be worth the effort to move it all over. I do see the benefit of having your daily apple rewards auto deposited into the savings account tho.
Pro
Apr 17, 2023 06:37 PM
2,160 Posts
Joined Jun 2019
Fanime
Pro
Apr 17, 2023 06:37 PM
2,160 Posts
Only thing holding me back is the requirement to open a new Apple Card with no bonus.
1
Apr 17, 2023 06:38 PM
1,884 Posts
Joined Jun 2014
gorillatechmanApr 17, 2023 06:38 PM
1,884 Posts
Quote from just10credible :
Any reason to believe this 4.15 rate won't continue to increase as the industry does? I currently have Ally for my HYSA but they're only at 3.75 now. But would hate to move the money to Apple then Ally goes to 4.25 or something.
I have an Ally account too, and I opened up an Apple Savings account.

I have money in both now.

Rates will certainly change in the future, but what's stopping you from moving it back in the future if you wanted to? You don't have to close your Ally account.
Apr 17, 2023 06:39 PM
3,681 Posts
Joined Nov 2009
dstppyApr 17, 2023 06:39 PM
3,681 Posts
A non-zero interest return for storing/using your money?

The monocle and tophat industry is gonna crater.
1

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Apr 17, 2023 06:39 PM
3,147 Posts
Joined Nov 2004
ironikalApr 17, 2023 06:39 PM
3,147 Posts
Quote from Gosh :
"Apple Card welcome offer
One of the most disappointing things about the card is the lack of a sign-up bonus. Very few rewards cards offer no sign-up bonus."

(ThePointsguy/March 2023)
I see a $75 referral bonus in my apple wallet for new user sign ups. Not a widely available/advertised welcome bonus but it's better than what I got when I first signed up (nothing).
Apr 17, 2023 06:50 PM
106 Posts
Joined Nov 2019
KarkosApr 17, 2023 06:50 PM
106 Posts

Our community has rated this post as helpful. If you agree, why not thank Karkos

Government bonds beat these interest rates. Just a heads up if you don't want to open an Apple Card account.
1
3
Apr 17, 2023 06:50 PM
497 Posts
Joined Jan 2019
ThriftyBook977Apr 17, 2023 06:50 PM
497 Posts
Rate is too low. 13 week T-Bill is 5.2% and no local tax.
1
4
Apr 17, 2023 06:51 PM
1,665 Posts
Joined May 2010
ctzApr 17, 2023 06:51 PM
1,665 Posts
FYI below brokerages treat like cash, no mature date:
Fidelity is 4.48%
https://www.fidelity.com/mutual-f...unds-fcash

Vanguard is 4.77%
https://investor.vanguard.com/inv...ey-markets

Robinhood Gold is 4.4%
https://robinhood.com/us/en/suppo...rest-rate/
Last edited by ctz April 17, 2023 at 12:58 PM.
5
Apr 17, 2023 06:56 PM
77 Posts
Joined Jun 2018
EricB6566Apr 17, 2023 06:56 PM
77 Posts
Quote from just10credible :
Any reason to believe this 4.15 rate won't continue to increase as the industry does? I currently have Ally for my HYSA but they're only at 3.75 now. But would hate to move the money to Apple then Ally goes to 4.25 or something.
The forward rate curve shows 1 more 0.25 Fed hike before rates start decreasing later this year, so I wouldn't expect it to move higher. https://www.chathamfinancial.com/...ard-curves
Apr 17, 2023 06:56 PM
1,039 Posts
Joined Jul 2009
thakoolkidApr 17, 2023 06:56 PM
1,039 Posts
Doesn't seem like a bad deal. They're also back by GS. It's a good account to add to other somewhat decent APY ones z
Apr 17, 2023 06:57 PM
47 Posts
Joined Dec 2009
L3ATHAFAC3Apr 17, 2023 06:57 PM
47 Posts
Anyone know of a deal for new Apple Card opening?
1

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Original Poster
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Expert
This user is an Expert in Home & Home Improvement
Apr 17, 2023 07:01 PM
23,389 Posts
Joined Jul 2006
SUCHaDEALApr 17, 2023 07:01 PM
Original Poster
Pro
Expert
This user is an Expert in Home & Home Improvement
23,389 Posts
Quote from just10credible :
Any reason to believe this 4.15 rate won't continue to increase as the industry does? I currently have Ally for my HYSA but they're only at 3.75 now. But would hate to move the money to Apple then Ally goes to 4.25 or something.
Marcus raised their MM savings account to 3.9% today, I expect Ally will follow suit. So yes, Apple should be going up as rates do.

My suggestion, open an Apple account, link it to your Ally account for transfers and vice versa. Then you can move money back and forth to play the rates keeping at least the minimum to keep the other account active/open.

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