Apple may soon launch a new Savings account service that will allow users to direct their Daily Cash rewards earned from Apple Card in Apple Wallet into a high-yield account. The service is already active on the backend, and the company is now taking the final steps to launch the service for users. The exact launch date of the Savings account is currently unknown, but it is expected that Apple may follow a similar pattern to the short testing period that it did with Apple Pay Later.
The Savings account, provided by Goldman Sachs, is one of the last features announced in 2022 that has yet to release. Apple has not provided any official statement regarding the launch, but the fact that the service is active on the backend suggests that it is coming soon. The new service is expected to be seamlessly integrated with the Apple Card and Wallet, offering a convenient and user-friendly experience for customers.
Apple’s high-yield Savings account is expected to provide customers with competitive interest rates that will allow them to earn more on their savings. With the growing popularity of digital wallets and mobile banking services, the new service is expected to attract a significant number of users who prefer to manage their finances through their mobile devices.
The Savings account is not expected to be tied to a specific version of iOS, which means that Apple could launch it at any time. Once launched, users will be able to take advantage of the service by directing their Daily Cash rewards into the high-yield account, providing them with a seamless way to grow their savings.
The upcoming launch of Apple’s high-yield Savings account is expected to be a game-changer in the mobile banking space. The new service is expected to offer customers a convenient and user-friendly experience while providing competitive interest rates. With the increasing adoption of digital wallets and mobile banking services, Apple’s Savings account is likely to be well received by customers looking to manage their finances through their mobile devices.