Apple and Goldman Sachs' Apple Card Savings Account Passes $10 Billion in Deposits

Odaily Planet Daily News Apple and Goldman Sachs announced on Wednesday that the deposits in the high-yield savings account jointly launched by the two parties have exceeded 10 billion US dollars. Since the service launched in April, 97 percent of users have opted to deposit their Apple Daily Cash, a cashback rewards program, into the account, Apple said. The Wallet app on the iPhone has a built-in savings account that allows users to transfer money in and out as they would with a traditional account. In April, Apple said its Apple Card savings account, launched in partnership with Goldman Sachs, is available to users and offers an annual yield of 4.15%. The account has no minimum deposit or balance requirements, and users set up their account through the Wallet app on the iPhone. (Bloomberg)