Apple Card users will soon be able to open a free Savings account at Goldman Sachs

If you are an Apple Card user, you will soon have one more way to save up your money. As Apple announced, in the coming months, Apple Card users will be able to open a Goldman Sachs Savings account and have their accumulated Daily Cash — the amount of money users receive as cash back when paying with their Apple Card — deposited there automatically. The best thing is that the account will be completely free, and users won't need to pay any fees or make minimum deposits. Plus, there won't be any minimum balance requirements.

For even bigger convenience, you will be able to set up and manage Savings directly within the Wallet app. There will be a new dashboard that will show your account's balance. Also, your Daily Cash will automatically be deposited into your Savings account once you open it, but you can still choose to have it added to your Apple Cash card instead. And you will be able to change the saving destination at any given time.



But the new Savings account won't be for just your Daily Cash. If you want to, you can deposit additional funds into it through a linked bank account or from your Apple Cash balance. Of course, in addition to depositing at any given time, you will also be able to withdraw funds from your Savings to a linked bank account or your Apple Cash card whenever you want, without paying any fees.

If you are not familiar with the Apple Card, this is Apple's credit card. It uses the services of Goldman Sachs bank and allows users to receive a percentage back on their purchase, which they can then spend elsewhere.