You open an Apple Card savings account through the Wallet app on your iPhone, not through a separate bank website
Apple Card holders can access a savings account called Apple Card Savings, which is run by Goldman Sachs. The account sits inside your Wallet app alongside your card. You do not need to visit a bank website, call a phone number, or fill out a separate form — the option appears in the Wallet app if you hold an Apple Card, and you can turn it on in a few taps.
The savings account is tied directly to your Apple Card. Money you move into it earns interest, and you can move money back to your linked bank account whenever you need it. There is no monthly fee, no minimum balance requirement, and no spending threshold to keep the account open.
Key Takeaways
- You must own an Apple Card before you can open the savings account — the option does not appear in Wallet if you do not have the card.
- The savings account opens inside the Wallet app on your iPhone; there is no separate website or application process.
- Interest rates change over time and are set by Goldman Sachs, so check the current rate in the Wallet app before you move money in.
- You can transfer money between your linked bank account and the Apple Card savings account at any time with no fees or waiting period.
What you need before you start
You must have an active Apple Card in your Wallet app. If you do not have one yet, you will need to open that first through the Wallet app on an iPhone, iPad, or Apple Watch. The Apple Card application process happens inside Wallet and takes a few minutes.
You also need a linked bank account — the account you want to transfer money from and to. This is the same bank account you linked when you set up your Apple Card. If you have not linked one yet, you can add it during the savings account setup or beforehand in your Wallet settings.
Make sure you have access to the iPhone, iPad, or Apple Watch where your Apple Card is set up. You cannot open the savings account on a Mac or through a web browser.
Steps to open the savings account in Wallet
Open the Wallet app on your iPhone and tap your Apple Card. Scroll down until you see the section labeled "Savings" or "Apple Card Savings." Tap the button to turn on the savings account — it may say "Open Savings Account" or "get your free guide."
The app will show you the current interest rate and explain the terms. Review this information, then confirm that you want to open the account. The account opens immediately — you do not have to wait for approval or confirmation from a bank.
Once the account is open, you will see a balance (starting at zero) and options to transfer money in or out. Your savings account is now active and ready to use.
How to move money into your savings account
In the Wallet app, tap your Apple Card and scroll to the Savings section. Tap "Transfer" or the button to add money. Choose the amount you want to move from your linked bank account into savings. Confirm the transfer.
The money moves instantly — you do not have to wait for it to clear. Once it is in the savings account, it begins earning interest at the rate shown in the Wallet app. You can transfer money in as often as you want, and there is no limit on how much you can hold in the account.
Moving money back to your bank account
If you need to withdraw money from your Apple Card savings account, open Wallet, tap your Apple Card, and go to the Savings section. Tap "Transfer" and select the amount you want to move back to your linked bank account. Confirm the transfer.
Like deposits, withdrawals are instant. The money goes back to the same bank account you linked to your Apple Card. You can withdraw at any time with no fees, no waiting period, and no minimum amount you have to leave in the account.
Interest rates and how they change
Apple Card Savings earns interest, but the rate is not fixed. Goldman Sachs sets the rate, and it changes based on market conditions. The current rate appears in your Wallet app in the Savings section — check there to see what you are earning.
Interest is deposited into your savings account automatically. You do not have to do anything to earn it or claim it. The app shows your interest earnings in your transaction history so you can track how much you have made.
Because rates change, the amount of interest you earn will vary from month to month. If you want to know the rate before you open the account, check the Wallet app or contact Apple Support.
What happens if you close your Apple Card
If you close your Apple Card, your savings account closes as well. Before that happens, you will need to move any money out of the savings account back to your linked bank account. Apple will send you a notice before the account closes, giving you time to withdraw your balance.
If you do not withdraw the money before the account closes, contact Apple Support to find out how to recover it. Do not ignore closure notices — act quickly to move your money.
Frequently Asked Questions
Can I open an Apple Card savings account without an iPhone?
No. The savings account only opens through the Wallet app on an iPhone, iPad, or Apple Watch. You cannot open it on a Mac or through a web browser. If you do not have an Apple device, you cannot use this savings account.
Is there a minimum amount I have to keep in the savings account?
No. You can open the account with zero dollars and leave it empty, or withdraw everything whenever you want. There is no minimum balance requirement.
What if my linked bank account closes or changes?
You can update your linked bank account in the Wallet app settings. Go to your Apple Card settings, find the linked bank account option, and add a new one. Transfers will then go to the new account. If your old account closes before you update it, contact Apple Support to change the linked account.
Can I earn interest on money I spend with my Apple Card?
No. Interest only applies to money in your Apple Card Savings account. Money you spend with the card itself does not earn interest. You have to move money into the savings account separately to earn interest on it.
How do I know if my transfer went through?
Check your Wallet app — the balance in your savings account updates instantly when you transfer money in or out. You can also see a record of every transfer in your transaction history within the Savings section.