You need an iPhone, the Wallet app, and an Apple ID to open an Apple Card savings account
Apple Card's savings account is built into the Wallet app on your iPhone. You don't visit a bank branch or fill out a separate application — the account opens directly through your phone once you have an Apple ID and the Wallet app installed. The savings account is tied to your Apple Card, so you need the card itself before you can open the savings feature.
The process takes about five minutes. Apple will verify your identity using information already on file with your Apple ID, and the account becomes active immediately. Money you deposit starts earning interest the same day.
Key Takeaways
- You must have an Apple Card and an iPhone with the Wallet app to open the savings account — there is no web version or Android option.
- The savings account opens directly in Wallet under the Apple Card tab, with no separate paperwork or phone call required.
- Your identity verification happens automatically using your existing Apple ID information, and the account is ready to use within minutes.
- Interest rates on Apple savings accounts change over time and are set by the partner bank, so check the Wallet app for the current rate before depositing.
- You can transfer money between your Apple Card checking account and savings account instantly through Wallet, with no transfer fees.
Step-by-step: Opening the savings account in Wallet
Open the Wallet app on your iPhone and tap your Apple Card. Scroll down to find the savings account section — it usually appears below your card balance and recent transactions. Tap "Open Savings Account" or a similar button (the exact wording changes with app updates). You'll see the current interest rate and a brief explanation of how the account works.
Tap to confirm you want to open the account. Apple will verify your identity using your Social Security number and other details already linked to your Apple ID. This verification is automatic and takes less than a minute. Once approved, your savings account number and routing number appear in Wallet, and you can start moving money into it right away.
If you don't see a savings account option in Wallet, your Apple Card may not be may be able to access yet — Apple rolled out the feature gradually to cardholders over time. Check back in a few weeks, or contact Apple Support through the Wallet app to confirm your card's status.
How to move money into your Apple savings account
You can transfer money from your Apple Card checking account (the main account tied to your card) to savings instantly through Wallet. Open Wallet, tap your Apple Card, scroll to the savings section, and tap "Transfer." Enter the amount and confirm. The money moves immediately with no fees.
You can also transfer money in from an external bank account using your Apple savings account number and routing number. This works like any standard bank transfer — you'll initiate it from your other bank's app or website, using the account details from Wallet. External transfers typically take one to three business days to arrive.
You cannot deposit cash or checks directly into an Apple savings account. All deposits must come from your Apple Card checking account or another bank account you own.
Interest rates and how earnings work
Apple's savings account is run by a partner bank (currently Goldman Sachs), and the interest rate is set by that bank, not by Apple. The rate changes over time as the broader economy changes. You can see the current rate in the Wallet app before you open the account, and it updates automatically in Wallet whenever the rate changes.
Interest is calculated daily on your balance and paid monthly into your account. If you have $10,000 in the account and the rate is 4.15% annually, you earn roughly $34.58 that month. The exact amount depends on the number of days in the month and the precise rate on each day.
There is no minimum balance requirement, no monthly fee, and no limit on how much you can deposit. You can withdraw money anytime without penalty.
What happens if you close your Apple Card
If you close your Apple Card, your savings account closes too. Apple will give you a notice before this happens and a window to move your money out. You can transfer your savings balance to another bank account using the account and routing number, or back to your Apple Card checking account if you keep that open.
Make sure you move your money before the account closes, because once it's closed you can't access it through Wallet anymore. If money is still in the account when it closes, Apple will mail you a check to the address on file.
Frequently Asked Questions
Can I open an Apple Card savings account without having the physical card?
No. You need an active Apple Card to open the savings account. The savings feature is only available to people who already have the card and use it. If you don't have an Apple Card yet, you'll need to open that first through Wallet.
Is my money safe in an Apple savings account?
Yes. The account is held at Goldman Sachs, which is a bank insured by the FDIC. Your deposits are covered up to $250,000 per account holder, the same as any other bank account. Apple itself doesn't hold the money — it's in a real bank account in your name.
Can I set up automatic transfers to savings?
Not through Wallet's built-in tools. You have to transfer money manually each time. Some people work around this by setting a calendar reminder, or by moving a fixed amount whenever they get paid.
What if I forget my Apple ID password?
You can still access your savings account through Wallet as long as you're signed into your iPhone with that Apple ID. If you get locked out of your Apple ID entirely, you'll need to recover it through Apple's account recovery process before you can access Wallet and your savings.
Can I use the savings account on an iPad or Mac?
No. The Apple Card savings account only works on iPhone through the Wallet app. You can view your balance on other Apple devices if they're signed into the same Apple ID, but you can't open the account or transfer money except on iPhone.