Apple Card gains savings account
The Apple Card now allows you to pool your daily cash into a new savings account. The company developed the feature with its banking partner Goldman Sachs and said the new account will be “high yielding,” without disclosing the actual interest rates.
The daily cash is automatically deposited into the account. You can also deposit from your Apple Cash balance or from an externally linked bank account.
Cupertino will also offer to transfer money back to Apple Cash, the primary spending account, without fees.
Daily Cash, which is what Apple calls its cashback policy, gives 1% back on all purchases, 2% if made via Apple Pay, or 3% if spent at the Apple Store and some partners like Uber, Walgreens, T-Mobil and ExxonMobil.