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New Apple Card Savings Accounts Offers 4.15% Interest

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Apple is continuing its forays into the financial world with the introduction of Apple Card Savings, a new savings account from Goldman Sachs that offers 4.15% interest with no fees, no minimum deposits, and no minimum balance requirements. The Savings account is designed to hold your Daily Cash rewards from using the Apple Card, but you can transfer as much as you want into it, up to $250,000. Given the woefully low interest rates offered by many local banks, the Apple Card Savings account may be compelling. It’s easy to manage in Apple’s Wallet app, but it doesn’t integrate with other personal finance apps right now.

(Featured image by iStock.com/brookebecker)

Social Media: Apple’s latest new product is… a 4.15% savings account? That’s right, as part of its financial ventures, Apple has introduced Apple Card Savings, a high-yield savings account aimed at holding Daily Cash rewards and more.

Share Your Apple Card with People in Your Family Sharing Group

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Apple did a good job rethinking some aspects of credit card use with the Apple Card, but one omission was the inability to share it with other family members. With the new Apple Card Family, once everyone has upgraded to iOS 14.6, you can add members of your Family Sharing group to your Apple Card account as either Co-Owners or Participants. Co-Owners can merge their credit lines, manage the account together, and build credit as equals. You can also invite children over 13 and young adults as Participants. For their accounts, you can set spending limits and receive real-time notifications. Participants over 18 can build their own credit, something that can be difficult for young people. To get started, go to the Wallet app on your iPhone, open the Apple Card, tap the ••• button, tap Share My Card, follow any prompts, for the person you want to share with, and select either Co-Owner or Participant.

(Featured image by Apple)

You Can Now Export and Download Apple Card Statements

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Apple’s credit card, the Apple Card, offers a nice mix of integration with Apple Pay, daily cash back, and an elegant interface in the Wallet app on your iPhone. Until recently, however, it was impossible to get your transaction data out of Wallet except in PDF form. Apple has now added exports in either CSV or OFX format. CSV is appropriate for importing into a spreadsheet, whereas many financial apps can import OFX files. To export your data from Wallet, tap your Apple Card and then tap Card Balance. Under Statements, tap the statement you want to export, tap Export Transactions at the bottom, and choose a format. For CSV, tap the Share icon in the file preview, and for OFX, Wallet automatically opens a share sheet. Use AirDrop, Messages, or Mail to send the file to your Mac, where you can work with it in whatever you use to track your finances.

(Featured image by MARK S. on Unsplash)