The feature is now available inside Apple's Wallet app for all Apple Card holders in the U. Skip Navigation. CNBC TV. Investing Club. Key Points.

Apple savings account is administered through its Wallet app. The account is available only to Apple Card holders. In this article. Follow your favorite stocks CREATE FREE ACCOUNT. To open the account, you will need an active Apple Card on your iPhone.

Scroll down and look for the Apple Card Savings Account option. Once selected, the Wallet app will walk you through the sign-up process. It'll ask you to enter your Social Security number and other information as well as agree to the terms and conditions. Once that's done, just hit submit and your application will go to Goldman Sachs for final approval.

The whole sign-up process should only take a few minutes to complete. Once the account's set up, all Daily Cash received from that point on will be automatically deposited into your new savings account and start earning interest.

Though you can change the destination for your Daily Cash at any time. You should also see a new Savings Account interface within the Apple Card section of the Wallet app. Tap on this to track your balance, add money to your account from a linked bank account or Apple Cash balance, or withdraw funds.

Subscribe now for a daily dose of the biggest tech news, lifestyle hacks and hottest deals. Elevate your everyday with our curated analysis and be the first to know about cutting-edge gadgets. She has also written game reviews and features as a freelance reporter for outlets like Polygon, Unwinnable, and Rock, Paper, Shotgun.

It keeps the conversation and payment in context. But why is diverting the Daily Cash earnings out of Apple Cash and into Apple Card Savings 5 better?

Now, with Daily Cash safely tucked away and earning interest! in Apple Card Savings, I can go back to using Apple Cash as a intermediary for the checking account when doing to those peer-to-peer payments. I used to be nervous about Apple tip-toeing into the financial world.

I thought it would be a distraction from their core products, and it just seemed kind of, well, icky to do any sort of banking with my favorite tech company. But Apple, these days, is far more than just a technology juggernaut.

However, if Apple wanted to make it a no-brainer for even more its customers like me to default to using the Apple Card for everything, I think they need to take their, admittedly already-pretty—simple-compared-to-other-credit-card-labyrinth-point-systems, rewards program and take it a step further.

With a few additional steps toward being more sharing-friendly and better integrated with the rest of the finance software world, they could earn more credibility, and, ultimately, more business.

Oh, and any transactions we make on trips out of the country. Because there are no foreign transaction fees with the Apple Card, unlike the Citi DoubleCash card.

Which is pretty ironic, considering that Apple Card is not yet available outside of the U.

“Savings enables Apple Card users to grow their Daily Cash rewards over time, while also saving for the future,” said Jennifer Bailey, Apple's Users can set up the account through the Apple Card in their Wallet app, and from there, Daily Cash will automatically get deposited into their This is a credit card that offers a reward called Daily Cash, where you can get up to 3% cash back on purchases. Once you open an account, those

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