Apple Turns Its Attention to Savings Account Services After Credit Cards

After the account is created, customers have the option of accruing Daily Cash incentives in the form of Apple Cash or letting their money grow in a savings account. However, it doesn’t make much sense to link a savings account to purchases made with a self-branded, single-service credit card. Apple will allow you to move money from your current bank account to Apple’s Savings account because the corporation is well aware of this.

Fortunately, it will be a two-way process. Users will be able to transfer or withdraw money from their Savings Account without paying a transaction fee, as well as deposit money into it from another linked bank account. People who open Apple Savings accounts will be able to monitor their interest-fueled financial progress through a specific Savings dashboard.

However, it should be noted that Apple won’t specify what ‘high-yield’ actually means in terms of interest rate. According to reports, the business assured CNBC that all customers would receive “competitive” interest rates regardless of how much money they had previously spent. As for availability, all we currently know is that the Savings Account functionality will be implemented over the next few months.


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