Apple and Goldman Sachs launch high-yield savings account for US customers

The technology giant Apple, in collaboration with Goldman Sachs, has announced the launch of an account in the United States that offers clients an annual return of 4.15%, about ten times above the average return, according to data from the Federal Deposit Insurance Corporation (FDIC) provided by the company.

This new savings product, called ‘Savings’ and available to Apple Card users, who can configure and manage it directly through the Wallet application, is free of charge and does not establish a minimum amount for deposits or balances. as indicated by the Cupertino multinational.

However, in the product conditions, Goldman Sachs and Apple warn that ‘Savings’ will only be available to natural persons and at least 18 years of age and a Social Security or Personal Taxpayer Identification number.

On the other hand, although it does not establish a minimum amount, the account does set a maximum limit of $250,000 to the maximum balance, warning that it can “reject and return any transfer of funds if your account exceeds the maximum deposit limit.”

They also explain that the account “can only be used for personal, family or household purposes and cannot be opened or maintained for commercial purposes”, nor in the name of a trust or other legal entity.

As explained by the company, once the account is configured, all the cash obtained by the user through Daily Cash, the bonus program for purchases made with the Apple card, will be automatically deposited in ‘Savings’.