Apple Card Savings account

Savings for Apple Card, usually called the Apple Savings account, is a high yield savings account provided by Goldman Sachs Bank USA and managed entirely inside Apple Wallet on an iPhone or iPad. It pays 3.40% APY as of June 4, 2026, with no fees, no minimum deposit, and no minimum balance. The structural catch: only Apple Card owners and co-owners can open one, so the account is really a perk of the card rather than a standalone product. The rate has been on a slow decline. It launched at 4.15% in April 2023, was cut to 3.50% in April 2026, and sits at 3.40% as of June 2026. That is respectable for a mainstream account but well below the 4.15% available from rate leaders like NexBank or Patriot Bank through the Raisin marketplace, a gap worth about $75 a year per $10,000 saved. The mechanics are the account's best feature. Daily Cash, the 1% to 3% cash back from Apple Card purchases, can auto-deposit into Savings, so rewards start compounding without any action on your part. Deposits are FDIC insured up to $250,000 through Goldman Sachs Bank USA, and the balance cap was raised from $250,000 to $1,000,000 per June 2026 reporting, which means balances above $250,000 sit over the insurance limit. There is no ATM card: money moves by transfer to Apple Cash or to a linked external bank account. The big open question is the ownership transition. In January 2026, Goldman Sachs and JPMorgan Chase announced that the Apple Card program will move to Chase over roughly 24 months. Existing Savings accounts stay at Goldman for now and will not be transferred automatically; Chase is expected to offer its own Apple branded savings product, and holders will eventually have to choose. Rates and terms could change along the way. Get it if you already carry an Apple Card and want your Daily Cash earning interest with zero friction. Skip it if you are chasing yield, since several no-strings accounts pay about 0.75 points more, and skip it entirely if you use Android: there is no web or Android access at all.