Last October, Apple surprised us with a new offer for the Apple Card: Saving. As the name suggests, this is about savings account linked to Goldman Sachs through which you can receive or transfer money.
Given that the vast majority of banks offer the option of having your own savings account, Apple has had to distance itself from the competition. Therefore, it has a number of attractive features to attract customers.
For example, an Apple Card savings account. No minimum amount required to continue working. More importantly, there is no charge for using it however, you are not required to make a minimum deposit.
Apple is rarely the company that makes the first move, but they always try to be the best. The Apple Card savings account is no exception. From the very beginning, those led by Tim Cook set themselves the goal of making account management simple and intuitive.
First, the initial setup of a savings account is fairly quick. In fact, you do not need to be present or call the bank. In the Wallet app, simply tap the three-dot button, then select Daily Cash, and finally enter Savings.
Once the installation process is complete, the savings account will be visible in the wallet. From there, you can check your daily balance and deposits. Those from Cupertino point out that any cash you deposit into your Apple Card can be automatically directed to a savings account if you wish. Now, if you need to transfer that money to an Apple Cash card, you can still do so.
Please note that the transfer is not limited to your cards or accounts linked to the Wallet. You can make transfers from your savings account to any other financial institution with no hidden fees.
Another major innovation of the Apple Card savings account is the ability to earn rewards for your purchases through the Daily Cash program. When you shop on participating products and services, you earn a percentage that will automatically be added to your savings.
Finally, you should keep in mind that a savings account allows you to store a maximum of $250,000. For higher amounts, it is recommended to seek other solutions from a financial institution (Goldman Sachs).
The bad news remains, of course, that Apple Card is only available in the USand it doesn’t look like the company is going to launch it in other territories anytime soon.
Source: Hiper Textual
I’m Ben Stock, a highly experienced and passionate journalist with a career in the news industry spanning more than 10 years. I specialize in writing content for websites, including researching and interviewing sources to produce engaging articles. My current role is as an author at Gadget Onus, where I mainly cover the mobile section.
