If you already use the Apple Card, there’s a new way to boost your savings without changing banks or downloading another app. Apple now offers a high-yield savings account directly within the Wallet app—and it pays a competitive 3.65% APY.
Designed for Apple Card users, the account is managed by Goldman Sachs and comes with no fees, no minimums, and automatic deposits from your Daily Cash rewards. It’s a clean, hands-off way to let your money earn more behind the scenes.
What Is the Apple Savings Account?
The Apple high-yield savings account is a mobile-only savings account available exclusively to Apple Card users. It’s built directly into the Wallet app and administered by Goldman Sachs Bank USA, which means deposits are FDIC-insured up to $250,000.
This account pays 3.65% APY—well above the national average—and makes it easy to grow your Daily Cash rewards automatically. Once you set up the account, any cashback earned from Apple Card purchases can be routed into your savings. You can also link an external bank account to add more funds manually.
There are no monthly fees, no minimum balance requirements, and you can access your account entirely through the Wallet app on your iPhone.
See also: Best High-Yield Savings Accounts for 2025
Apple Savings Account Key Features
Here’s a closer look at what makes the Apple high-yield savings account stand out:
- 3.65% APY: This is a variable rate that can change over time, but it remains highly competitive compared to traditional savings accounts.
- No fees or minimums: There are no monthly maintenance fees, no minimum deposit, and no balance requirements.
- Daily Cash integration: Your Apple Card cashback (called Daily Cash) can be deposited into the savings account automatically, helping you build savings without lifting a finger.
- FDIC insurance: Goldman Sachs Bank USA provides FDIC insurance up to $250,000 per depositor.
- iOS-only access: The account lives inside the Apple Wallet app, so you’ll need an iPhone or iPad running the latest version of iOS.
How the Apple Savings Account Works
Once you’ve set up your Apple Savings account in the Wallet app, your Daily Cash rewards will start flowing into the account automatically—unless you choose otherwise. You can switch the destination of Daily Cash at any time between your Savings and your Apple Cash card.
You can also fund the account by linking an external checking or savings account. Transfers from Apple Cash are instant, but transfers from outside banks may take a few days to process. Withdrawals are handled via the Wallet app and go back to your linked bank account.
There are some limits to be aware of:
- You can’t deposit physical cash or checks.
- You can’t transfer more than $20,000 from Apple Cash in any 7-day period.
- The account balance maxes out at $250,000 (aligned with FDIC insurance limits).
Interest accrues daily and is paid monthly. You start earning interest as soon as the funds arrive in the account.
Apple Savings Account Pros & Cons
Here’s a quick breakdown of where the Apple high-yield savings account shines—and where it falls short.
Pros
- High APY: Earn 4.15% interest—much higher than most brick-and-mortar banks.
- No fees or minimums: Keep more of what you save without account charges.
- Automatic savings: Daily Cash deposits help grow your balance effortlessly.
- FDIC-insured: Backed by Goldman Sachs and insured up to $250,000.
- Simple to set up: You can activate the account in minutes within the Wallet app.
- Strong security: Protected by Apple’s two-factor authentication and iOS encryption.
Cons
- Apple Card required: You must have an Apple Card to open the account.
- iOS only: No web or Android access—iPhone or iPad required.
- No joint accounts: Apple Savings is only available to individuals.
- No cash or check deposits: You can only fund it via bank transfers or Apple Cash.
- Transfer limits: You can’t move more than $20,000 from Apple Cash in a 7-day period.
- No signup bonus: Unlike some online banks, Apple offers no intro incentives.
Who Should Open This Account?
The Apple high-yield savings account is a great fit if you already have an Apple Card and use an iPhone regularly. It’s especially appealing if you prefer low-effort saving, since your Daily Cash can be routed directly into the account without lifting a finger.
This account also makes sense if you value clean design, no fees, and easy mobile access. If you’re looking for the highest APY on the market or want more flexibility in how you manage your money, though, there may be better options elsewhere.
How to Open an Apple High-Yield Savings Account
To open an Apple savings account, you’ll need to meet a few basic requirements. You must:
- Be at least 18 years old
- Be a U.S. resident with a valid physical address
- Have an Apple Card
- Use an iPhone or iPad with the latest version of iOS
- Have a Social Security number or Taxpayer Identification Number
- Enable two-factor authentication on your device
Once you meet those criteria, follow these steps:
- Open the Wallet app on your iPhone or iPad
- Tap Apple Card
- Tap the More button in the top-right corner
- Choose Daily Cash
- Tap Set Up Savings
- Follow the prompts to complete setup and link an external bank account (if you’d like to deposit more funds)
That’s it. Once you’re set up, your Daily Cash will start flowing into the account automatically, and you can transfer in or out whenever you’d like.
How Apple Savings Compares to Other High-Yield Accounts
If you’re shopping around for the best place to stash your savings, here’s how Apple’s offering stacks up against other top accounts in 2025:
| Bank | APY | Minimum Balance | Web Access | Mobile Experience | Signup Bonus |
|---|---|---|---|---|---|
| Apple | 3.65% | $0 | No | iOS-only, seamless | No |
| Ally | 3.60% | $0 | Yes | Excellent app + web | No |
| Marcus | 3.65% | $0 | Yes | Solid app and web | No |
| SoFi | Up to 3.80% | $0 (with direct deposit) | Yes | Strong mobile interface | Often (with checking) |
| Discover | 3.60% | $0 | Yes | User-friendly | Occasionally |
| Capital One 360 | 3.60% | $0 | Yes | Reliable mobile + web | Occasionally |
Apple’s savings account now offers the same APY as Marcus and slightly edges out several competitors on user experience—at least for Apple device users. But if you’re looking for web access, joint accounts, or a strong welcome bonus, one of the online banks above may be a better fit.
Are There Any Bonuses or Promotions?
As of now, Apple doesn’t offer a signup bonus for its high-yield savings account. There are no introductory offers, cash rewards, or referral bonuses tied specifically to the savings product.
That said, the Apple Card itself sometimes runs limited-time promotions for new cardholders—such as higher Daily Cash rates on select purchases or referral bonuses for inviting friends. While those don’t apply to the savings account directly, they could still add value if you’re using both.
See also: Best Bank Bonuses & Promotions of June 2025
Is My Money Safe in the Apple Savings Account?
Yes—Apple’s savings account is backed by strong protections on both the banking and tech sides.
Goldman Sachs Bank USA holds the deposits and provides FDIC insurance up to $250,000 per depositor. That means your money is protected if the bank fails.
From a security standpoint, the account is only accessible through your Apple Wallet. Two-factor authentication is required, and there’s no web access—meaning your account isn’t exposed to phishing attacks that often target browser logins.
Final Thoughts
Apple’s savings account is a strong option for iPhone users who already have an Apple Card and want a simple, automated way to grow their cash. It’s fee-free, pays a solid interest rate, and fits smoothly into your everyday mobile experience.
But if you’re not deep in the Apple ecosystem—or if you want features like joint accounts, web access, or signup bonuses—there are more flexible options from top online banks. This account is built for Apple users. If that’s not you, it might not be the best place to park your savings.
