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SUCHaDEAL 342K Views
Apr 17, 2023 2:14 PM

Apple Card Savings Account:

4.15% Interest

(No Minimum Deposits)at Apple Store
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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
Good Deal
Get Deal at Apple Store

Top Comments

virals1012
411Comments
3.6KReputation
Here are the links to get started opening this account:

https://learn.applecard.apple/benefits

https://wallet.apple.com/setup/feature/savings
Go to Comment
CTownIntegra
16Comments
80Reputation
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.
Go to Comment
qkumbr
3.8KComments
1.8KReputation
The account is backed by Goldman Sachs - a bank.
Go to Comment

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526 Comments

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Apr 18, 2023 5:50 PM
221 Comments
Joined Jul 2017
karl2kApr 18, 2023 5:50 PM
221 Comments
do you always have to use the app to access the account or can you bring it up on a website or mac?
Apr 18, 2023 5:51 PM
565 Comments
Joined Mar 2006
snedmanApr 18, 2023 5:51 PM
565 Comments
Quote from slick_Ren View quoted comment :
Eesh. Thanks for the heads up. What would be the safest HYSA you'd recommend?
I am not sure. US banks have never paid anything worth the time for me to look into them.
I keep my money in multiple accounts in different countries. US interest rates are a joke.
I make at a minimum of 8.75% interest on a bank account in Ecuador. If I want a CD there they'll pay 10%+.
Depending on risk adverse you are, some countries pay up to 12-17%.

The US is not where you make money off your money. It's where banks mainly make money off your money. Then charge you to access your money, etc.
Apr 18, 2023 5:54 PM
6.1K Comments
Joined Nov 2012
George_P_BurdellApr 18, 2023 5:54 PM
6.1K Comments
Quote from qkumbr View quoted comment :
The account is backed by Goldman Sachs - a bank.
You don't understand the point I guess. Apple is a Trillion dollar company and almost everyone has on their hands. So the information alone could make people revisit what APR their bank offers. Many banks get away with poor Apr rates even in 2023.
Apr 18, 2023 5:56 PM
190 Comments
Joined Feb 2011
gfortier84Apr 18, 2023 5:56 PM
190 Comments
Quote from slick_Ren View quoted comment :
Eesh. Thanks for the heads up. What would be the safest HYSA you'd recommend?
PayPal Savings via synchrony is 4.15%
Apr 18, 2023 5:57 PM
565 Comments
Joined Mar 2006
snedmanApr 18, 2023 5:57 PM
565 Comments
Quote from oharag1 View quoted comment :
Does anyone know why UFB dropped their rate? It's the opposite for everyone else. I agree 4.7% is the highest, but 5.02% was a killer deal. Any thoughts on UFB - I heard their customer service is terrible.
UFB Direct is owned by Axos Financial. They have been under investigation for shady practices since 2014.
An internal employee accused the CEO of funneling money to his personal account.
The whistle blower was subsequently fired by Axos. He filed a wrongful termination lawsuit, and won that case in 2022 for $1.5 million.

"The jury found that Erhart "reasonably believed" the bank's conduct included: high deposit risk concentration; giving a misleading response to a subpoena from the Securities and Exchange Commission; failing to disclose subpoenas to the Office of the Comptroller of the Currency, the bank's regulator, in response to its request; and providing risky loans to criminals or politically exposed people, those who, because of their public positions or relationships, "may present a risk higher than other customers by having access to funds that may be the proceeds of corruption or other illicit activity," according to bank regulators."

Where there is smoke, there is usually fire. Stay away from UFB.
Apr 18, 2023 6:05 PM
435 Comments
Joined Aug 2014
dedezuApr 18, 2023 6:05 PM
435 Comments
Quote from karpo1 View quoted comment :
Fidelity Government Money Market 4.58%
I just realized fidelity charge for times higher expense ratio than Vanguard money market. Vanguard still wins
Apr 18, 2023 6:09 PM
816 Comments
Joined May 2007
nj2laApr 18, 2023 6:09 PM
816 Comments
I am curious to understand, where apple will be investing this money? They already have so much surplus on balance sheet

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Apr 18, 2023 6:31 PM
9 Comments
Joined Sep 2016
McFosmApr 18, 2023 6:31 PM
9 Comments
Quote from ctz View quoted comment :
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/
Does anyone have good links for these? none of them are working for me.

***nvm got it to work***
Last edited by McFosm April 18, 2023 at 11:46 AM.
1
Apr 18, 2023 6:33 PM
435 Comments
Joined Aug 2014
dedezuApr 18, 2023 6:33 PM
435 Comments
Quote from nj2la View quoted comment :
I am curious to understand, where apple will be investing this money? They already have so much surplus on balance sheet
Bank and Corp buy government fund with 4.7% apr and issue their customer 4.15% apr. zero risk easy money 0.55% apr difference
Apr 18, 2023 6:34 PM
3.2K Comments
Joined May 2018
TimlessApr 18, 2023 6:34 PM
3.2K Comments
Quote from nj2la View quoted comment :
I am curious to understand, where apple will be investing this money? They already have so much surplus on balance sheet
They aren't. It's a rebranded goldman sachs Marcus account.

Goldman is investing it and providing most of the interest. Apple is most likely providing the extra interest.

Apple is just trying to make their credit card more useful.
Apr 18, 2023 6:41 PM
1.7K Comments
Joined May 2010
ctzApr 18, 2023 6:41 PM
1.7K Comments
What is "charge for times higher expense ratio"?? What I don't ike Vanguard is: its website sucks!!
Quote from dedezu View quoted comment :
I just realized fidelity charge for times higher expense ratio than Vanguard money market. Vanguard still wins
Apr 18, 2023 6:44 PM
891 Comments
Joined May 2013
SamirPDApr 18, 2023 6:44 PM
891 Comments
Quote from slickdude99 View quoted comment :
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
Think of it this way--would you carry a debit card with 100k accessible in your wallet? If the answer is no, I think putting that much accessible by your phone is a no as well.

Apple has just made stealing an iphone even more profitable! ApplauseRoll Eyes (Sarcastic)
4
Apr 18, 2023 6:45 PM
435 Comments
Joined Aug 2014
dedezuApr 18, 2023 6:45 PM
435 Comments
Quote from ctz View quoted comment :
What is "charge for times higher expense ratio"?? What I don't ike Vanguard is: its website sucks!!
Four times. Vanguard charge 0.1% for almost all fund. Fidelity charge 0.48% expense ratio. $10 vs $48 per year if you deposit $1000.
Vanguard always the king of mutual fund
Apr 18, 2023 6:47 PM
370 Comments
Joined Jan 2009
slick_RenApr 18, 2023 6:47 PM
370 Comments
Anybody find the small print specifying exactly what the withdrawal limits are?

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Apr 18, 2023 6:49 PM
4 Comments
Joined Dec 2015
foltsieApr 18, 2023 6:49 PM
4 Comments
Quote from BurtHandsome View quoted comment :
Can you transfer money from Apple Cash to Apple Savings? Or do I have to go Apple Cash -> my bank -> Apple Savings?
If you don't see the option to transfer directly from Apple Cash to Apple Savings, you may need to Verify your Apple Cash card - https://support.apple.com/en-us/HT207887


1. Go to your card info:
-iPhone: Open the Wallet app, tap your Apple Cash card, tap the More button , then tap Card Details .
-iPad: Open the Settings app, tap Wallet & Apple Pay, then tap your Apple Cash card.
-Apple Watch: Open the Apple Watch app on your iPhone, tap Wallet & Apple Pay, then tap your Apple Cash card.

2. Tap Verify Identity.
3. Follow the onscreen steps.

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