Apple is preparing to release a new high-yield savings account option for Apple Card users, based on code found in the iOS 16.4 beta. The update lays the groundwork for the feature, which was announced in October.


Since Apple announced plans to create a high-yield savings account for the ‌Apple Card‌, it hasn’t made any additional information available, including details about a launch. iOS 16.4 lays the groundwork for the feature, so it might be available alongside the iOS 16.4 release.

The code in iOS 16.4 contains references to routing and account numbers, current balance, interest earned, data management, funds available for withdrawal, and more.

Apple will encourage customers to sign up for a savings account by providing a message that says “Transfer your Apple Cash balance to your savings account and start earning interest today” and “You can transfer up to [amount] from Apple Cash to your savings account in one transaction and start earning interest today.

As with the ‌Apple Card‌, the High Yield Savings Account will be offered by Goldman Sachs. ‌Apple Card‌ owners will be able to choose to have their Daily Cash automatically deposited so it can earn interest.

Apple has not yet provided the APR for the savings account that will be made available to ‌Apple Card‌ owners, and there is no mention of it in the code. There is also no sign of the savings account in the Wallet app at the moment.

The savings account and Daily Cash will be able to be managed through the Wallet app alongside the ‌Apple Card‌.

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