In a statement, Goldman Sachs said they are very pleased with the response to Apple Card Savings. In the last couple of weeks, some publications have reported that Goldman Sachs is looking to exit the Apple Card arrangement, as part of a strategic shift away from consumer finance.īut at least for now, the Apple and Goldman Sachs partnership remains intact. Combined, the total amount held in Apple Card Savings accounts has topped $10 billion. This is where the headline figure comes from. Customers can additionally move money from other bank accounts into their Savings account. These Daily Cash rewards can automatically be sent to the Savings account to accrue and grow further Apple says 97% of its users have opted to do this. The Apple Wallet UI encourages paying off balances in a healthy fashion, and makes the payment calendar clear so users aren’t surprised about upcoming interest charges.Īpple Card pays 1% cashback on purchases made using the physical card, 2% cashback on purchases made using Apple Pay, and 3% cashback on purchases made at select retailers including spending at the Apple Store and on Apple services. As long as you pay off your balance each month, you can use the card for free. Unlike most other credit cards on the market, Apple Card has no membership fees, late fees, or other hidden costs associated with using the account. The account offers a highly-competitive 4.15% interest rate.Īpple Card launched in 2019 as a way to offer a simple, financially responsible, and private, credit card. The savings account launched in April, available to all Apple Card customers in the United States, in partnership with Goldman Sachs. Early indicators suggested that the savings account was a hit, and today Apple has given us firm official numbers to back that up. Apple today announced that its high-interest savings account for Apple Card has topped over $10 billion in deposits.
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