Level Up Your Finances: How To Donate To Your Apple Card Savings Account

Apple Card holders can now earn interest on the money in their accounts. With Apple’s new Cash Savings Account, you can automatically deposit the daily rewards you normally collect using your Apple Card into your savings account. With an annual interest rate of 4.15%, this account will give you more profit than many banks.

You must be the owner (or co-owner) of an Apple Card account to use your Apple Cash Savings account. No minimum deposit, fees or balance required. In addition to using your Apple Cash balance automatically, you can also manually send money from Apple Cash or the bank account linked to your card. You can also deposit and withdraw money from your savings account when you need to, or turn off automatic deposits at any time.

Ready to get started? Here’s how to sign up for an Apple high-yield savings account:

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1. Apply for an Apple Card

(Credit: Apple)

First, you need to apply for an Apple Card(opens in new window), if you don’t already have one. You can use it directly from his Wallet app on your iPhone, or you can request and use a physical card. When you pay with your Apple Card, you’ll receive cash back rewards just like you would with a traditional credit card.

These Daily Cash rewards are processed daily and appear in your Apple Cash balance the day after your purchase. Earn 1% on all purchases made with a physical card, 2% when using the card with Apple Pay, and 3% when using the Apple Card to pay for his Apple’s own products and services. increase.

(Credit: Lance Whitney/Apple)

Next, we recommend making sure Apple Card is set as your default payment method to generate more cash in your savings account.To do this, go to Settings > Wallet and Apple Pay swipe down transaction default section. Tap. default card Select the entry and select the Apple Card entry to make changes.

Once you have the Apple Card, sign up for an Apple Savings account and earn 4% or more in interest to further enhance your personal finances.

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2. Sign up for an Apple Savings account

To activate your savings account, open the Wallet app on your iPhone and select Apple Card.tap three dots more select the icon, daily cash. Bottom daily cash election Tap. savings option. The next screen describes a savings account.Tap Continue.

You will then be asked to confirm your information.Enter your social security number and tap NextRead the Savings Account Terms and Conditions and tap consentYou will be asked if you are subject to backup withholding by the IRS.Most likely you will answer no. Tap Account verification and opening.

(Credit: Lance Whitney/Apple)

Your application will be sent to your bank with notification that the review is in progress.can now be tapped closeOnce your application is approved, you will receive a confirmation email stating that your savings account has been opened.

(Credit: Lance Whitney/Apple)

To verify your account, open the Wallet app, tap Apple Card, tap savings accountOr go to: Settings > Wallet and Apple Pay and choose savings under account section.

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3. Manage daily cash rewards

(Credit: Lance Whitney/Apple)

When you make a purchase with your Apple Card, the transaction appears in the Wallet app the next day. You can find it by tapping your Apple Card in Wallet. A small weekly activity chart shows how much cashback you’ve received so far.

Tap. weekly activity Use the chart to access your total spending for the week. You can also switch the display between months and years.Tap daily cash You can view specific transactions and see how much cash you have earned on each transaction.

(Credit: Lance Whitney/Apple)

Daily Cash rewards go into your Apple Cash balance by default, but you can switch to your Savings account. From the Daily Cash activity screen, View Daily Cash select by link savings under daily cash election section.Tap confirmation Indicates that you want to transfer future cash earnings to your savings account. To switch back to Apple Cash, return to the Daily Cash screen and tap apple cash under daily cash election section.

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4. Add money to your savings account

(Credit: Lance Whitney/Apple)

Beyond your cash back benefits, you can manually add additional money to your new savings account from your Apple Cash balance or bank account previously linked to your Apple Card. To move money, open the Wallet app and tap Apple Card.choose savings account Tap. add money button.

(Credit: Lance Whitney/Apple)

Then enter the amount you want to transfer and tap NextOn the screen to authorize the transaction, set the source to Apple Cash or bank. Double-click the side button and confirm the transfer using your default authentication method (Face ID, Touch ID, or Passcode).

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5. Manage your account balance

(Credit: Lance Whitney/Apple)

To check your savings account balance, tap your Apple Card in the Wallet app, tap savings account. Tap the three dots more Click the icon on the top right to select Account detailsThe next screen will show you the current balance of all the money in your account and the available balance of the amount you can withdraw.

(Credit: Lance Whitney/Apple)

Select Apple Card in the Wallet app to withdraw money from your savings account. savings account Tap. withdrawalThen enter the amount you wish to withdraw. Note that the screen will show your available balance.Tap Next.

Tap the destination arrow and set it to either Apple Cash or a linked bank account. Finally, double-click the side button to authorize the withdrawal.