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

Apple Card Savings Account:

(No Minimum Deposits)

4.15% Interest

Apple Store
527 Comments 328,212 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
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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 07:02 PM
754 Posts
Joined Jul 2009
RockPastaApr 17, 2023 07:02 PM
754 Posts
Most savings accounts have withdrawal count limits per month. What about this?
1
Apr 17, 2023 07:04 PM
754 Posts
Joined Jul 2009

This comment has been rated as unhelpful by Slickdeals users.

Apr 17, 2023 07:09 PM
271 Posts
Joined Jun 2017
stan1337Apr 17, 2023 07:09 PM
271 Posts
Quote from RockPasta :
Isn't the title of this thread extremely misleading?

This is a goldman sachs savings account that apple merely "wrapped" and added value on top of by letting you deposit your cashback into directly?
I mean, the rate is higher than Marcus
Apr 17, 2023 07:15 PM
428 Posts
Joined Mar 2009
digitalgimpusApr 17, 2023 07:15 PM
428 Posts
A reminder that it pretty much never makes sense to chase interest rates in HYSA's.

This one just launched, so it's going to be a little above average to attract customers. Everyone else is going to slowly climb over the next several weeks.

Overall constantly switching banks will earn you a couple dollars a year. Spend the time learning a skill or doing a job and you could earn much more than that.

If you're already in the Apple Card ecosystem this might be convenient and worthwhile to consolidate. For everyone else, likely not.
3
Apr 17, 2023 07:19 PM
54 Posts
Joined Aug 2013
qAnon20201231Apr 17, 2023 07:19 PM
54 Posts

Our community has rated this post as helpful. If you agree, why not thank qAnon20201231

For those not seeing the button to apply, your iOS needs to be 16.4 or higher (most update to date version is 16.4.1).
1
1
Apr 17, 2023 07:21 PM
1,884 Posts
Joined Jun 2014
gorillatechmanApr 17, 2023 07:21 PM
1,884 Posts

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

Quote from SUCHaDEAL :
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.
People can also get higher rates by opening up a CD.

I opened a few 4.75% no penalty CDs at Ally some months ago, and it can be closed whenever you like, without penalty. I don't think that rate is available anymore, but if somebody is interested in getting the highest rates they can, then they should pay attention to all options, as they are constantly changing.
1
2
Apr 17, 2023 07:22 PM
54 Posts
Joined Aug 2013
qAnon20201231Apr 17, 2023 07:22 PM
54 Posts
Quote from ChronoTriggered :
Under "Daily Cash," I don't have the "Daily Cash Election" option. I wonder if it's because I'm still on iOS 16.3.1?
Yes, you're right. the iOS requirement is 16.4 or higher (most update to date version is 16.4.1).
1

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Apr 17, 2023 07:27 PM
14 Posts
Joined Aug 2016
nandorossApr 17, 2023 07:27 PM
14 Posts
Quote from gorillatechman :
That is not accurate. You will get a hard pull if you accept the card.

When you apply for an Apple Card, if they accept you, they will make an offer, showing you what credit limit they will give you.

You can then either choose to accept or decline.

If you decline, then it'll only be a soft pull on your credit.
If you accept, you will get a hard pull, just like with any other card.
YMMV but I think I remember a trick people were doing where if you go through the initial check where they give you an offer, then freeze your credit and click accept, Apple will open the account and they won't do a hard credit pull because they can't. But again, ymmv. Look it up first also because I might have gotten details wrong.
1
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Apr 17, 2023 07:34 PM
23,389 Posts
Joined Jul 2006
SUCHaDEALApr 17, 2023 07:34 PM
Original Poster
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This user is an Expert in Home & Home Improvement
23,389 Posts
Quote from gorillatechman :
People can also get higher rates by opening up a CD.

I opened a few 4.75% no penalty CDs at Ally some months ago, and it can be closed whenever you like, without penalty. I don't think that rate is available anymore, but if somebody is interested in getting the highest rates they can, then they should pay attention to all options, as they are constantly changing.
That was during the banking crisis, last I checked that CD is down to about 4.35 or 4.25 now on ALLY. For that small of a difference, not sure I'd mess with a CD, even a no penalty, as I don't believe you can withdraw just a portion of it, all or nothing. Unlike having competing MM rates that are liquid, you can move funds around as you wish and still have the account open/viable to move funds into at such time their rates are better than Bank B.
3
Apr 17, 2023 07:38 PM
23,389 Posts
Joined Jul 2006

This comment has been rated as unhelpful by Slickdeals users.

Apr 17, 2023 07:38 PM
753 Posts
Joined Dec 2017
Atnguy10Apr 17, 2023 07:38 PM
753 Posts
PayPal Saving is also 4.15%
1
Apr 17, 2023 07:39 PM
410 Posts
Joined Jun 2013
BurtHandsomeApr 17, 2023 07:39 PM
410 Posts
Can you transfer money from Apple Cash to Apple Savings? Or do I have to go Apple Cash -> my bank -> Apple Savings?
Apr 17, 2023 07:39 PM
1,396 Posts
Joined Aug 2010
JohnRamboApr 17, 2023 07:39 PM
1,396 Posts
Is there a max balance that can receive the 4% rate?
Apr 17, 2023 07:39 PM
2,851 Posts
Joined Nov 2010
wolve3Apr 17, 2023 07:39 PM
2,851 Posts
Quote from slickdude99 :
Already have an Apple Card. Should I move $100k savings from Marcus to this? It kinda scares to to have that much money accessible to my Apple Wallet
But how else are you going to pay for the Apple VR / AR headset when it comes out? Wink

On a seriously note, I'm tempted to apply for Apple Card and get a savings account since most CDs don't have as good interest.
1

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Apr 17, 2023 07:41 PM
1,884 Posts
Joined Jun 2014
gorillatechmanApr 17, 2023 07:41 PM
1,884 Posts
Quote from nandoross :
YMMV but I think I remember a trick people were doing where if you go through the initial check where they give you an offer, then freeze your credit and click accept, Apple will open the account and they won't do a hard credit pull because they can't. But again, ymmv. Look it up first also because I might have gotten details wrong.
I hadn't heard or read about that, but I guess it seems plausible and some might have been able to get away with it.

It does sound very sketchy though, and it's not something that I would have tried to do, because it seems like it can only lead to problems down the line. Why would somebody do that, to commit fraud? To lie about their income or details?



2

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