Apple introduces savings account in the US

Apple has partnered with Goldman Sachs for its new savings bank account service in the US. Apple Card users will receive 4.15% annual interest, 10 times the US average rate, and there are no minimum balance requirements, no minimum deposits or fees. Customers can use the Wallet app to set up their savings account and then can begin saving their daily rewards. Apple Cash, a checking account in the Wallet app, receives cash back rewards for Apple Card purchases, and once the savings account is set up, daily rewards will automatically go into it.

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