14 DAY TRIAL // Apple announced the Savings account feature for Apple Card customers back in October, and while the feature was supposed to be part of iOS 16.1, this highly anticipated release is yet to happen.
However, as discovered by MacRumors, the debut of Apple Card Savings account is likely just around the corner, as Goldman Sachs has updated its documentation with information on this feature.
“To enable new ways to use Daily Cash like the upcoming Savings account feature, we are updating the Daily Cash Program section of your Apple Card Customer Agreement,” the company reportedly tells users in emails that were sent this week.
Apple has so far remained tight-lipped on everything related to the ETA of this feature, with the company only using terms like “soon” to explain when the Savings would become available.
Launch expected this month
The Cupertino-based tech giant originally said the feature would go live “in the coming months.”
“In the coming months, Apple Card users will be able to open the new high-yield Savings account and have their Daily Cash automatically deposited into it — with no fees, no minimum deposits, and no minimum balance requirements. Soon, users can spend, send, and save Daily Cash directly from Wallet,” Apple explained.
“Apple Card users will be able to easily set up and manage Savings directly in their Apple Card in Wallet. Once users set up their Savings account, all future Daily Cash received will be automatically deposited into it, or they can choose to continue to have it added to an Apple Cash card in Wallet. Users can change their Daily Cash destination at any time.”
At this point, an ETA still isn’t available, but there’s a chance the new feature would go live for Apple Card customers in mid-December when Apple ships iOS 16.2 to supported iPhone out there.