Apple plans to offer Apple Card users a “high-yield” Goldman Sachs savings account in the coming months and automatically deposit their Daily Cash with no fees
MacRumors Joe Rossignol
Context & Ripple Effects
The planned account extends the Apple Card partnership first framed around Wallet-based money-management features, adding a destination for cardholders’ Daily Cash rather than leaving rewards as a standalone balance. Related coverage later records the account’s April 2023 launch, making this announcement the bridge from card rewards to deposit-taking.
First-order effects
- Apple Card users will be able to route Daily Cash automatically into a no-fee, high-yield savings account offered with Goldman Sachs.
- Goldman Sachs gains a direct savings-product channel tied to Apple Card rewards, while Apple adds a savings function to its card experience.
Second-order effects
- Automatic deposits turn Daily Cash into a recurring funding source for the Goldman Sachs account, increasing the practical value of keeping rewards inside the Apple Card ecosystem.
- Apple’s Wallet financial features become more interconnected: the card generates rewards and the savings account receives them without a separate transfer step.
Third-order effects
- If this integration becomes a durable part of Apple Card, the Apple–Goldman Sachs partnership shifts from issuing a card with management tools toward bundling everyday spending and savings in one product flow.
The trend: Apple is deepening consumer-finance products by connecting rewards, card usage, and savings within its Wallet-centered experience.
Related: Apple · Apple Card · Goldman Sachs · Apple Card Savings account launch · Apple and Goldman Sachs plan joint credit card
Related Coverage
- Apple Card will soon let users grow Daily Cash rewards while saving for the future Apple
- Apple Card users can soon sign up for a ‘high-yield’ savings account Engadget · Jon Fingas
- Apple looks even more like a bank now that it's adding a savings account to Apple Card The Verge · Richard Lawler
- Apple, savings bank Philip Elmer‑DeWitt · Philip Elmer-DeWitt
- Apple partners with Goldman Sachs to introduce high-yield savings accounts for Apple Card holders TechCrunch · Sarah Perez
- Apple teams up with Goldman Sachs on high-yield savings accounts Financial Times
- Apple Card gains savings account GSMArena.com
- After Credit Cards, Apple Sets Its Sights On Savings Account Service SlashGear · Nadeem Sarwar
- Apple, Goldman Sachs to Offer High-Yield Savings Accounts Wall Street Journal · Will Feuer
- Apple Takes One More Step into the World of Banking TidBITS · Josh Centers
- Apple will soon offer “high-yield” savings accounts for its Apple Cash rewards TechSpot · Cal Jeffrey
- Apple Card Users Can Now Get Interest On Daily Rewards In A Savings Account Benzinga · Shivdeep Dhaliwal
- Apple, Goldman Sachs introduce interest-bearing savings accounts as rates rise CNBC · Kif Leswing
- Apple launches Savings account for Apple Card owners in collaboration with Goldman Sachs iThinkDifferent · Asma Hussain
- Apple Lets Card Users Set up Goldman Sachs Savings Accounts PYMNTS.com
- Apple Partners with Goldman Sachs to Offer Savings Accounts iPhone Hacks · Dave Johnson
- Apple Card Savings Account Michael Tsai
- Bank of Apple: Apple Card to Offer Interest Bearing Accounts in Partnership with Goldman Sachs Crowdfund Insider · JD Alois
- Apple partners Goldman Sachs for savings account Finextra
- Apple launches savings account for Apple Card users Neowin · Karthik Mudaliar
- Apple announces new Savings Account feature coming to Apple Card Appleosophy · David Becker
- Apple Card users can now have a new high-yield Savings account from Goldman Sachs BigTechWire · Pradeep Viswanathan
- Apple Card Users to Get High-Yield Savings Account From Goldman Sachs Thurrott · Laurent Giret
- Apple Maps currently facing outage, Apple Card unusable for some BGR · José Adorno
- You'll soon be able to earn interest on the cash back from your Apple Card The Points Guy · Zach Griff
- The Apple Card savings account is coming soon with no fees iDownloadBlog.com · Christian Zibreg
- Apple is even more of a bank now — if you have an Apple Card Insider · Samantha Delouya
- Apple Card Daily Cash can soon grow in new high-yield Savings accounts from Goldman Sachs MacDailyNews
- Apple Card users are getting a high-yield savings account too Pocket-lint · Oliver Haslam
- Your Apple Card Daily Cash can soon go into a Goldman Sachs savings account Macworld · Roman Loyola
- Apple Card to Add Savings Account Feature PCMag · Michael Kan
- Your Apple Card will soon get its own savings account - here's what it looks like Digital Trends · Christine Romero-Chan
- Apple just announced a savings account for Apple Card Apple Must · Jonny Evans
- Apple Card to Gain Savings Account, Still Not Available in Canada iPhone in Canada Blog · Gary Ng
- Apple Card Daily Cash can be shunted to high-yield savings soon AppleInsider · William Gallagher
- Apple Card Will Soon Let Users Deposit Daily Cash Into High-Yield Savings Account iClarified
Discussion
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@stevekovach
Steve Kovach
on x
Apple is launching a “high-yield savings account” for Apple card customers https://www.apple.com/...
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@morningbrew
@morningbrew
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If you use Apple Card, you'll be able to open a Goldman Sachs high-yield savings account in Wallet soon. Here's hoping “high-yield” means > 8.2%🫠
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@stevekovach
Steve Kovach
on x
Update on this: Apple isn't announcing the yield until closer to launch because interest rates are moving so quickly. https://www.cnbc.com/... https://twitter.com/...
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@chancehmiller
Chance Miller
on x
No release date. Also still waiting on a date for Apple Pay Later. https://twitter.com/...
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@chancehmiller
Chance Miller
on x
Very cool how you can track the progress of the savings account right in the Wallet app. There should be an API to allow all banks to do this. Also note: Apple isn't managing the savings account, it's a Goldman Sachs HYSA. https://twitter.com/...
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@_bizbaz
Bazombie Hiralal
on x
“Goldman Sachs' existing online high-yield savings account Marcus currently has a 2.15% APR.” https://twitter.com/...
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@stevekovach
Steve Kovach
on x
Right? What is the yield on a “high-yield savings account?” 20%? 5%? 1%? https://twitter.com/...
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@benedictevans
Benedict Evans
on x
Apple never built a telco or an MVNO. It built FaceTime and iMessage made (or kept) the telco a dumb pipe. Let the legacy companies do the boring regulated big iron stuff and build the value in an new UX on top.
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@benedictevans
Benedict Evans
on x
Savings account managed by Goldmans. Apple credit card rewards automatically deposited. Transfer in/out link to a traditional ‘bank account’ (as for current Apple Cash card). No direst deposit or transfer (no getting your salary or paying bills).
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@edbott
Ed Bott
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Every tech company wants to be a bank. https://twitter.com/...
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@jyarow
Jay Yarow
on x
Apple Card user. Look forward to getting a better interest rate on my Apple Cash! An easy entry point to expand financial services. https://twitter.com/...
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@filipeesposito
@filipeesposito
on x
Apple Card meets Nubank. https://www.apple.com/...
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@dee_bosa
Deirdre Bosa
on x
the most opportunistic & shining a light on the fact that big bank savings account yields haven't budged. Chase savings APY is.... 0.01% https://twitter.com/...
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@reckless
Nilay Patel
on x
@stevekovach An entire press release for an interest-bearing product that does not specify the rate
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@benedictevans
Benedict Evans
on x
Bingo https://t.co/YMCm82eKHZ https://t.co/VFZPd8Nr5P
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@ashleevance
Ashlee Vance
on x
Pretty sure Tim Cook is not one of the crazy ones https://twitter.com/...
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@andrewmartonik
Andrew Martonik
on x
This is incredibly smart. The Daily Cash you get from Apple Card purchases has always been a little weird, it isn't always clear what you can do with it. This keeps it in Apple's world. https://www.apple.com/...