On April 17, Apple announced on its official website that the Apple Card high-yield savings account in cooperation with the US investment bank Goldman Sachs Group was officially launched today.
Apple Card is Apple’s credit card service. Users can register with an iPhone. It can display detailed information of consumer merchants, including map location, consumption amount and consumption type, and classify and statistics the user’s consumption, giving consumption trends and habits Report.
According to reports, users will be able to easily set up and manage this savings account directly on the Apple Card in their wallet, with no processing fees, minimum deposit amount and minimum balance requirements. Once a user sets up a savings account with Apple Card, the daily bonus credits from Apple Card are automatically deposited into the account. Users can also deposit funds into a savings account through a linked bank account, and can transfer funds out of a linked bank account at any time without any fees. The general content is very similar to Yu’e Bao.
In terms of interest rates that everyone is more concerned about, Apple said that it currently offers an annual interest rate of 4.15%. It is worth mentioning that this rate is more than 10 times the US average. In other words, compared with some institutions, Apple’s 4.15% annual interest rate has strong industry competitiveness in the market.
So how to set it up? The operation steps are as follows:
First, users need to open a savings account in the Wallet app, tap Apple Card, then find and tap the circle with three dots at the top of the screen, then select Daily Cash, and then select Set up savings. After opening an account, all Daily Cash received will be automatically deposited into the account and start earning interest without users having to worry about it.