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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
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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 19, 2023 5:50 AM
43 Comments
Joined Oct 2011
MelettiApr 19, 2023 5:50 AM
43 Comments
Quote from aquint5554 View quoted comment :
Sofi Bank offers 4% readily with the need of an Apple card. Also consider getting a debit card like Schwabs offering to take advantage of being able to move your money around and withdrawing from any debit machine (they reimburse withdrawal fees). I feel this is more of a start to recoup thier losses given this feature wasn't readily given.
Their cc is 2% back on everything and 3% back for a year if you direct deposit into their savings. They are also a full bank now as well. They also have a sweep for 2 million of fdic insurance.
1
Apr 19, 2023 7:48 AM
32 Comments
Joined Aug 2004
tumbaApr 19, 2023 7:48 AM
32 Comments
Quote from SiegfriedC View quoted comment :
i was wrong, i just called them, they told me term only apply to apple cache <-> saving account
if you use external account <-> saving account there is no limit
bankrate had an article pretty misleading i read somewhere
From their Terms and Conditions:

"NOTICE OF WITHDRAWAL

We reserve the right to require you to notify us in writing seven days before a withdrawal is made from your Account."

and

there's nothing about any exceptions for withdrawal from this savings to an external account.

So, makes you wonder why some rules are written but some disclosed over the phone.

and below a little paragraph from their Terms and Conditions:

"ACH Transfer with a Linked External Account

You may deposit or withdraw funds from your Account through an ACH Transfer into or from a linked external account. We
may place limits on the amount of funds transferred based on total dollar amount or frequency, and will disclose such limits
to you at the time you schedule your ACH Transfer."
Apr 19, 2023 8:10 AM
32 Comments
Joined Aug 2004
tumbaApr 19, 2023 8:10 AM
32 Comments
From my confirmation email:

"4.15% Annual Percentage Yield*"

but small print:

*Interest Rate: 4.07%. Rates as of April 18, 2023. Annual Percentage Yield (APY) and interest rate are variable and may change at any time."

So, it's not really 4.15%. It's 4.07%
Last edited by tumba April 19, 2023 at 01:14 AM.
2
Apr 19, 2023 9:21 AM
2K Comments
Joined Oct 2004
PassionsApr 19, 2023 9:21 AM
2K Comments
Quote from SiegfriedC View quoted comment :
be careful you can only withdraw 20k per week
so if you transfer 250k to it, you need like 3 month to totally withdraw from the saving account
Wow this is a huge negative!!! EEK! Ally you can move $150,000 daily.
1
Apr 19, 2023 10:13 AM
30 Comments
Joined May 2013
NeilDealApr 19, 2023 10:13 AM
30 Comments
Quote from tumba View quoted comment :
From my confirmation email:

"4.15% Annual Percentage Yield*"

but small print:

*Interest Rate: 4.07%. Rates as of April 18, 2023. Annual Percentage Yield (APY) and interest rate are variable and may change at any time."

So, it's not really 4.15%. It's 4.07%
That's standard language. APY (4.15% here) just includes the daily compounding interest of the interest and is always a little higher than the APR (4.07% here). Most offers are shared as APY if interest compounds daily, but disclosure requirements include APR.
Apr 19, 2023 11:18 AM
81 Comments
Joined Aug 2011
damkoApr 19, 2023 11:18 AM
81 Comments
Quote from Passions View quoted comment :
Wow this is a huge negative!!! EEK! Ally you can move $150,000 daily.
The guy in your quotation is wrong… it only applies to apple cash.
Apr 19, 2023 12:19 PM
103 Comments
Joined Nov 2017
karpo1Apr 19, 2023 12:19 PM
103 Comments
Quote from dedezu View quoted comment :
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
Moneymarket in Fidelity works automatic, what ever you have as cash on brokerage account will be swept to moneymarket. As not familiar with Vanguard,checked their website, it seems that you need to explicitly buy a fund with 3k minimum investment and when you need cash you sell fund. No need to do buy/sell steps with Fidelity moneymarket

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Apr 19, 2023 12:32 PM
565 Comments
Joined Mar 2006
snedmanApr 19, 2023 12:32 PM
565 Comments
Quote from CoastMark View quoted comment :
Uhm, do they pay you that rate in a US dollar denominated account??
Ecuador uses the US dollar as their countries standard currency, just like the US. No conversion fees necessary.
Apr 19, 2023 2:13 PM
751 Comments
Joined Dec 2018
Sumt0n3Apr 19, 2023 2:13 PM
751 Comments
Quote from Rontron View quoted comment :
PayPal Savings also has 4.15% right now with Synchrony bank
PayPal savings? Don't PayPal like to freeze / put accounts on hold randomly?
Apr 19, 2023 2:16 PM
1.6K Comments
Joined Apr 2016
RontronApr 19, 2023 2:16 PM
1.6K Comments
Quote from Sumt0n3 View quoted comment :
PayPal savings? Don't PayPal like to freeze / put accounts on hold randomly?
Yeah I don't put too much in there. Just thought it was convenient. I would hope being an actual Synchrony bank account it would have more protections...
Apr 19, 2023 3:08 PM
301 Comments
Joined Aug 2011
wrichards2005Apr 19, 2023 3:08 PM
301 Comments
Quote from Rontron View quoted comment :
PayPal Savings also has 4.15% right now with Synchrony bank
Paypal takes way too many liberties with people's money. I've logged on to Paypal to have my money entirely frozen because a buyer opened up a dispute on me claiming they never received an item that the courier had a picture taken of the house, a matching signature, and a delivery confirmation and it was on hold for over a month. I would never trust Paypal to not do the same thing if I had 100k sitting in one of their banks. It's happened multiple times over small disputes that I have won but they lock your account up without hesitation.
Apr 19, 2023 3:13 PM
84 Comments
Joined Aug 2012
sutcliffe1Apr 19, 2023 3:13 PM
84 Comments
Anyone know whether this account is linkable to Mint.com?
Also is there a web site to manage the account, or can it only be done via an Apple device?
Apr 19, 2023 4:35 PM
189 Comments
Joined Dec 2010
frankyzeeApr 19, 2023 4:35 PM
189 Comments
~5%+ right now on 26 week treasuries!
About as risk free as you can get =)
Apr 19, 2023 5:01 PM
32 Comments
Joined Aug 2004
tumbaApr 19, 2023 5:01 PM
32 Comments
Quote from damko View quoted comment :
The guy in your quotation is wrong… it only applies to apple cash.
Yes, but have you actually read their Terms and Conditions about other types of withdraws from this savings account? Have you personally tried to take any amount out of there by any means?

My funds left my connected accounts and they are in Apple savings account for a few days and I am not able to do any withdrawal yet.

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Apr 19, 2023 5:13 PM
32 Comments
Joined Aug 2004
tumbaApr 19, 2023 5:13 PM
32 Comments
Quote from NeilDeal View quoted comment :
That's standard language. APY (4.15% here) just includes the daily compounding interest of the interest and is always a little higher than the APR (4.07% here). Most offers are shared as APY if interest compounds daily, but disclosure requirements include APR.
Yes, requirements... some of them still exist.

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