The account has no fees, minimum deposits or minimum balance requirements. It also allows you to “configure and manage” the savings from the Apple Card in Wallet. What is it about and who can access it?
Manzana and Goldman Sachs presented a savings account that offers a return of 4.15% and seeks to compete with other banks. The account has no fees, minimum deposits or minimum balance requirements. It also allows you to “configure and manage” the savings from the Apple Card in Wallet. What is it about and who can access it?
“The Savings account helps our users get even more value from their favorite Apple Card benefit, Daily Cash, while also gives them an easy way to save money every day. Our goal is to create tools that help users lead healthier financial lives, and the addition of ‘Savings’ to Apple Card allows them to spend, send and save Daily Cash directly and seamlessly, all from one place.” , indicates Jennifer BaileyVice President of ‘Apple Pay’ and ‘Apple Wallet’.
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Once a savings account is set up, all future cash earned by the user through ‘Daily Cash’the service that allows users to receive a percentage of the amount of their purchases made with ‘Apple Card’, will be automatically deposited into the account. The destination of this cash can also be changed at any time, and there is no limit to the amount users can earn through this service.
Besides, users can deposit additional funds into their savings account via a linked bank account or from their ‘Apple Cash’ balanceand they’ll also have access to an easy-to-use savings panel in ‘Wallet,’ where they can track their account balance and interest earned over time.
“The new Goldman Sachs savings account is based on the financial health benefits that ‘Apple Card’ already offers, with no fees at all, ‘Daily Cash’ on every purchase and tools that encourage users to pay less ‘Apple Card’ interest. All at the same time, it offers the privacy and security that users have come to expect from Apple.”
Source: Ambito
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