If you cannot see Savings:
Once I upgraded iOS to 16.4.1, I was able to see the 'Savings' option under Daily Cash!
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(No Minimum Deposits)at Apple Store
Deal Details
Apple is offering an Apple Card Savings Account with 4.15% Interest.
Thanks to Community Member SUCHaDEAL for finding this deal.
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
- 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.
- 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:
- Refer to the forum thread for additional deal discussion.
- See more information about this offer here.
- Compare this rate to other savings accounts.
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.
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
- 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.
- 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:
- Refer to the forum thread for additional deal discussion.
- See more information about this offer here.
- Compare this rate to other savings accounts.
Community Voting
Deal
Score
+348
Good Deal
Bad Deal
Top Comments
https://learn.applecard
https://wallet.apple.co
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526 Comments
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Apple is a very large and reliable company, and this is backed by Goldman Sachs which has been around since the 1800's and is considered by the federal government an institution to big to fail.
In 2008 they received $10 billion from the federal government to not collapse in that banking fiasco. They paid back that $10 billion in less than 15 months. So, I'd say they aren't going anywhere.
I don't keep the majority of my money for investment in US banks. They havent paid enough interest to make any of them worth looking at.
I keep part of my money in Ecuador banks, and other countries which pay up to 15% interest. Ecuador uses the dollar, just like the US. The banks pay 8.50%-10.5% in interest, and have for a very very long time.
Make your money work smart for long term, not just blips of what the US considers a high interest rate. Because no company here gives a crp about you. And the system in the US is out to take your money, not make you money unless you are a business.
Look into creating a business, and do everything under that. That way you can write off or expense everything. As a person you have no protections, as a business you do.
US banks are out to make them money, not you money. It's been this way since the very late 80's.
I am planning to open one
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FDIC max is 250k. Do you have a link showing details on 1.1M?
Don't stop at first few lines. Just search for below text on above link using browser option "find in page"
FDIC insurance up to $1.5 million
Basically Robinhood sweeps your savings into 6 partner banks with 250k max in each bank thus effectively insuring upto $1.5 million
Also mentioned here
https://www.investopedi
Usually when adding an external bank account to a bank, they'll do two micro transactions to verify that you own the external bank account. It looks like there's no verification needed when adding an external bank account from Apple Card, at least when I tried it...
So just playing devil's advocate here. Say someone puts money in their Apple Savings, and a thief gets ahold of the phone + passcode. The thief can theoretically lock the user out, turn on the recovery key so no one not even Apple can access it
The Apple Card has your external bank information on it. So they can:
1. Transfer all your money from your external savings/checking to Apple card
2. Add their own bank account (as no verification is needed or possible)
3. Transfer all the money to their bank account. So you would lose your iCloud account AND you'd lose all your moeny, right?
Being a bit paranoid so just checking if this seems right, or is there a security measure I am not aware that makes this scenario unlikely.
Yes... obviously don't let people know your passcode. But... just hypothetically speaking here...
Usually when adding an external bank account to a bank, they'll do two micro transactions to verify that you own the external bank account. It looks like there's no verification needed when adding an external bank account from Apple Card, at least when I tried it...
So just playing devil's advocate here. Say someone puts money in their Apple Savings, and a thief gets ahold of the phone + passcode. The thief can theoretically lock the user out, turn on the recovery key so no one not even Apple can access it
The Apple Card has your external bank information on it. So they can:
1. Transfer all your money from your external savings/checking to Apple card
2. Add their own bank account (as no verification is needed or possible)
3. Transfer all the money to their bank account. So you would lose your iCloud account AND you'd lose all your moeny, right?
Being a bit paranoid so just checking if this seems right, or is there a security measure I am not aware that makes this scenario unlikely.
Yes... obviously don't let people know your passcode. But... just hypothetically speaking here...
Same with Venmo. Fidelity app on iPhone/Android. And almost any other banking app. There exists incredible controls in the palm of your hand that allow you (or a thief) to do anything on the account.
Just like if your browser is hijacked and/or your computer is hijacked - they can empty your accounts in moments.
I'd argue the iPhone, with walled garden app store, and with difficult-to-surpass security (unless you're dumb enough to crack it THEN put all your banking apps on the same phone!) is about the best case scenario for security.
I'd argue it's mostly secure against almost anything other than gun-at-your-temple or similar attacks.
Particularly now that there's no more physical SIM (on a 14+), the SIM attack is gone too.
Don't stop at first few lines. Just search for below text on above link using browser option "find in page"
FDIC insurance up to $1.5 million
Basically Robinhood sweeps your savings into 6 partner banks with 250k max in each bank thus effectively insuring upto $1.5 million
Also mentioned here
https://www.investopedi
So Robin Hood is functioning as an aggregator and is in the middle managing this, but your actual accounts are with 4-5 different banks. And you pay RH $5/mo for that feature.
Eh. I'd rather stick with one I trust, and "fortunately" I have under $250k to invest.
Even accounting for load, Vanguard's rates (for example) are currently half a percent higher - and you don't have to deal with the limitations of savings accounts (e.g., number of transactions). Note: You do need at least $3k to use these particular accounts, but this is merely one example.
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