How to Open an Apple Savings Account

Wondering How To Open An Apple Savings Account?

Apple has revolutionized the way we interact with technology, and now, they’re changing the game in the financial sector too. With the introduction of the Apple Savings Account, users can take advantage of a high-yield savings option directly integrated into their Apple ecosystem. In this comprehensive guide, we’ll walk you through the step-by-step process of opening an Apple Savings Account and making the most of this innovative feature.

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What Is an Apple Savings Account?

Before we dive into the how-to, let’s briefly discuss what the Apple Savings Account is and why it’s worth considering. The Apple Savings Account is a digital savings account offered in partnership with Goldman Sachs, one of the world’s leading investment banks. Here’s what you need to know:

  • High-Yield Interest: One of the most attractive features of the Apple Savings Account is its high annual percentage yield (APY). As of the latest information available, it offers an impressive 4.15% APY, significantly higher than the national average.
  • No Fees: Unlike many traditional savings accounts, the Apple Savings Account doesn’t come with maintenance fees or minimum balance requirements. This makes it an excellent choice for users looking to maximize their savings without incurring extra costs.
  • Seamless Integration: As you might expect from Apple, the Savings Account is seamlessly integrated into your Apple Wallet app. This means you can manage your savings alongside your other financial information and Apple Card.
  • Accessibility: To open an Apple Savings Account, you need to be the owner or co-owner of an active Apple Card account, and it must be added to your iPhone. This account is currently available exclusively to Apple Card customers.

Now, let’s get into the nitty-gritty of how to set up your very own Apple Savings Account.

Steps to Open an Apple Savings Account

1. Ensure You Have an Apple Card

The first and most crucial step in opening an Apple Savings Account is to ensure you have an active Apple Card. If you don’t have one yet, you can easily apply for it online through your iPhone or Apple’s official website.

2. Access Your Wallet App

Once you have your Apple Card, open the Wallet app on your iPhone. This is where you’ll manage your Apple Savings Account.

3. Navigate to Your Apple Card

In the Wallet app, locate and tap on your Apple Card. This should bring up your Apple Card settings and transactions.

4. Access Daily Cash

Within your Apple Card settings, look for the “Daily Cash” section. Tap on it to access your Daily Cash balance and transactions.

5. Set Up Your Savings Account

Scroll down the Daily Cash screen until you find the “Set Up” option next to “Savings.” Tap on “Set Up” to initiate the process of opening your Apple Savings Account.

6. Follow Onscreen Instructions

Once you’ve selected “Set Up,” the app will guide you through the process step by step. You’ll need to provide the necessary information, agree to the terms and conditions, and complete any required identity verification steps.

7. Fund Your Account

After successfully setting up your Apple Savings Account, you can start depositing money into it. Simply tap on “Savings Account” within your Wallet app, then select “Add Money.” Enter the amount you want to transfer and follow the prompts to complete the transaction.

Additional Tips and Information

  • Available Regions: As of now, the Apple Savings Account is primarily available to users in the United States. Apple may expand its availability to other regions in the future, so keep an eye out for updates if you’re located elsewhere.
  • Interest Rate Variability: The interest rate on your Apple Savings Account can change based on economic conditions. While it currently offers an attractive 4.15% APY, this rate may fluctuate over time.
  • Maximum Balance: There is a maximum balance limit for your Apple Savings Account, set at $250,000. This should accommodate the savings needs of most individuals and families.
  • No Minimum Balance: Unlike many traditional banks that require a minimum balance to open and maintain an account, the Apple Savings Account has no such requirement. You can open an account with any amount you like.


With the Apple Savings Account, Apple continues to innovate in the world of personal finance. This integrated, high-yield savings option offers users a convenient and cost-effective way to grow their savings while enjoying the benefits of the Apple ecosystem.

Whether you’re an existing Apple Card user or considering getting one, taking advantage of the Apple Savings Account is a smart move. The process of opening and managing your account is straightforward, and the potential for earning a high APY makes it a compelling option for those looking to optimize their financial future. So, why wait? Open your Apple Savings Account today and start saving smarter with Apple.


F.A.Q. – How To Open An Apple Savings Account

Question 1: What is an Apple Savings Account, and how can I open one?

A.: An Apple Savings Account is a high-yield savings account offered to Apple Card users in partnership with Goldman Sachs. To open one, follow these steps:

  1. Launch the Wallet app on your iPhone.
  2. Tap on your Apple Card.
  3. Tap the three-dot icon (…) in the top-right corner.
  4. Select “Daily Cash” and then “Set Up” to open your Apple Savings Account.

Question 2: What are the key benefits of having an Apple Savings Account?

A.: There are several benefits:

  • It offers a competitive interest rate of 4.15% APY.
  • There are no fees, minimum deposits, or minimum balance requirements.
  • Easy access through the Wallet app on your iPhone.
  • Funds can be transferred to a linked bank account or your Apple Cash card.

Question 3: Who is eligible to open an Apple Savings Account?

A.: To be eligible, you must:

  • Be the owner or co-owner of an active Apple Card account.
  • Have an iPhone.
  • Be at least 18 years old with a social security number.

Question 4: Can I access my Apple Savings Account from outside the United States?

A.: Currently, the Apple Savings Account is only available to users in the United States.

Question 5: How is the Apple Savings Account interest rate compared to traditional savings accounts?

A.: The Apple Savings Account offers a highly competitive interest rate of 4.15% APY, significantly higher than the national average for traditional savings accounts, which is around 0.42% APY.

If you have any more questions or need further assistance, feel free to ask!