iOS 16.4 Lays Groundwork for Apple Cash High-Yield Savings Account
Apple is preparing to release a new high-yield savings account option for Apple Card users, based on code that was found in the iOS 16.4 beta. The update lays the groundwork for the feature, which was announced in October.
![Apple Card Savings](https://images.macrumors.com/t/edQaOnd13vGCFaFOeaVKKItqMTg=/400x0/article-new/2022/12/Apple-Card-Savings-16x9.jpeg?lossy)
Since Apple announced plans for a high-yield savings account for the Apple Card, it has not made any additional information available, including details on a launch. iOS 16.4 lays the groundwork for the feature, so it could be available alongside the iOS 16.4 release.
Code in iOS 16.4 has references to routing and account numbers, current balance, interest earned, data management, funds available for withdrawal, and more.
Apple will encourage customers to sign up for a savings account by providing a message that says "Transfer your Apple Cash balance to your savings account and start earning interest today" and "You can transfer up to [amount] from Apple Cash to your savings account in a single transaction and start earning interest today.
As with the Apple Card, the high-yield savings account will be offered through Goldman Sachs. Apple Card owners will be able to opt-in to having their Daily Cash deposited automatically so that it can earn interest.
Apple has not yet provided the APR for the savings account that will be made available to Apple Card owners, and there is no mention in the code. There are also no signs of the savings account in the Wallet app as of yet.
The savings account and Daily Cash will be able to be managed through the Wallet app alongside the Apple Card.
Popular Stories
Following nearly two years of rumors about a fourth-generation iPhone SE, The Information today reported that Apple suppliers are finally planning to begin ramping up mass production of the device in October of this year. If accurate, that timeframe would mean that the next iPhone SE would not be announced alongside the iPhone 16 series in September, as expected. Instead, the report...
Key details about the overall specifications of the iPhone 17 lineup have been shared by the leaker known as "Ice Universe," clarifying several important aspects of next year's devices. Reports in recent months have converged in agreement that Apple will discontinue the "Plus" iPhone model in 2025 while introducing an all-new iPhone 17 "Slim" model as an even more high-end option sitting...
Apple supply chain analyst Ming-Chi Kuo today shared alleged specifications for a new ultra-thin iPhone 17 model rumored to launch next year. Kuo expects the device to be equipped with a 6.6-inch display with a current-size Dynamic Island, a standard A19 chip rather than an A19 Pro chip, a single rear camera, and an Apple-designed 5G chip. He also expects the device to have a...
Apple typically releases its new iPhone series around mid-September, which means we are about two months out from the launch of the iPhone 16. Like the iPhone 15 series, this year's lineup is expected to stick with four models – iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max – although there are plenty of design differences and new features to take into account. To bring ...
Apple’s iCloud Private Relay service is down for some users, according to Apple’s System Status page. Apple says that the iCloud Private Relay service may be slow or unavailable. The outage started at 2:34 p.m. Eastern Time, but it does not appear to be affecting all iCloud users. Some impacted users are unable to browse the web without turning iCloud Private Relay off, while others are...
Apple is planning to release at least one iPhone 17 model next year with mechanical aperture, according to a report published today by The Information. The mechanical system would allow users to adjust the size of the iPhone 17's aperture, which refers to the opening of the camera lens through which light enters. All existing iPhone camera lenses have fixed apertures, but some Android...