The AppleCard It will stop being just a credit card to become, if you allow it, a tool to manage your savings. Those from Cupertino announced that, soon, the Apple Card will integrate Savings, an account where it will be possible to deposit cash. It should be noted that it will be linked to Goldman Sachsthe financial institution associated with Apple.
One of the best value proposals of Savings, and with which they intend to differentiate themselves from other similar proposals, is that neither Apple nor Goldman Sachs will charge for the use of the account. Also, there will be no minimum deposits or a minimum amount to keep available.
Following the line of other Apple products, the company wants to make managing your savings account as simple as possible. Just set up Savings so that from then on, any deposit you make to your Apple Card is automatically saved to the account. If you ever need to direct that money to an Apple Cash card in Wallet, you can do that too.
Deposits can come from other bank accounts and even from the balance saved in Apple Cash. What happens if you need to withdraw an amount at a certain time? Don’t worry, you can transfer cash to other accounts without paying any fees.
If all of the above weren’t enough, Savings will also be integrated into the Apple Card rewards program. That is, Daily Cash. With the latter, users receive a small percentage of their purchases at participating stores and services. Thanks to the account, those cash rewards can now be stored with the rest of your savings.
“Savings allows Apple Card users to increase their Daily Cash rewards while saving for the future.”
Jennifer Bailey, vice president of Apple Pay and Apple Wallet, mentions that Savings was designed with a very clear objective: that users can carry a healthy financial life. On the other hand, it is clear that Apple seeks to increase the features of the Apple Card to make a difference with other credit cards.
“Goldman Sachs’ new savings account expands on the financial health benefits and valuable Daily Cash that Apple Card already offers. Apple Card, built into Wallet on iPhone, has transformed the credit card experience by simplifying the payment process. request, eliminate all fees, encourage users to pay less in interest, offer the privacy and security users have come to expect from Apple, and offer Daily Cash with every purchase.”
The only “downside”, if you want to see it that way, is that the availability of the Apple Card is still limited exclusively to the United States. At the moment, it does not seem that the card will expand to other territories in the near future. In 2019, a report from Bloomberg He anticipated his possible arrival in Europe, but from that moment we did not know anything else.