Apple Savings Account

Fool Community Help Desk Help with this STUPID computer!
1

Based on my experience with the Apple Credit Card, I decided to give the Apple Savings Account a try. I like it and it offers me a few hundred dollars a year of interest.

Here is my series of events.

  • Created/Opened the account

  • Automatically my existing Apple Cash (Black card in Wallet) balance was transferred to the Savings Account

  • I clicked the “Add Cash” option and discovered the bank account I paid off my Apple CC was already linked to the Apple Savings account.

  • I transferred $50 to the Apple Savings Account

  • Each time I used my Apple CC, instead of funds appearing in my Apple Cash, they dropped into the Savings Account

  • Today I got my statement - simple just like getting my Apple Credit Card Statement

4.15% interest is worth the effort to me.

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2

I opened mine too a couple of weeks ago, apple cash went in, have not yet transferred other bank savings account $, will do soon. Thx

| GWPotter
May 1 |

  • | - |

Based on my experience with the Apple Credit Card, I decided to give the Apple Savings Account a try. I like it and it offers me a few hundred dollars a year of interest.

Here is my series of events.

  • Created/Opened the account

  • Automatically my existing Apple Cash (Black card in Wallet) balance was transferred to the Savings Account

  • I clicked the “Add Cash” option and discovered the bank account I paid off my Apple CC was already linked to the Apple Savings account.

  • I transferred $50 to the Apple Savings Account

  • Each time I used my Apple CC, instead of funds appearing in my Apple Cash, they dropped into the Savings Account

  • Today I got my statement - simple just like getting my Apple Credit Card Statement

4.15% interest is worth the effort to me.

3

This is probably old news to many folks, but I also discovered today that it is possible for all family members to Co-own an Apple Credit - this is not the same has having a family member able to just charge on an account. We prefer this because with a co-owned account we do not have 2 separate credit card bills and statements.

The various status options have some age restrictions and family member status requirements.

Here is a link to some information.

Set up Apple Card Family and add a co-owner and participants - Apple Support.

2 Likes
4

Just found out new Apple Savings account can.not be a trust account nor added to an existing trust account. Beneficiary can be added but not a Trust-as a beneficiary. That puts a stop on me adding more funds to it. Sigh….

5

Our bank (Truist) will not or can not put any account in the name of a Trust that is not a business account. So effectively that means no savings accounts in a Trust.

Our Trust’s financial instruments are held at Fidelity. Rates change monthly, but today Fidelity’s Money Market is paying 4.50% which actually beats the Apple Savings account rate.

1 Like