Apple Launches High-Yield Savings Account for Apple Card Users

Apple has launched a high-yield savings account for Apple Card users through Goldman Sachs.
The savings account offers a 4.15% annual percentage yield (APY) with no minimum balance or deposit requirements or fees.
Cash back earned from Apple Card purchases (up to 3%) will automatically go into the savings account, but users can change this in the Apple Wallet app.
Savings account holders can manage their account through a Savings dashboard in the Wallet, which allows fee-less transfers in both directions and transfers to and from an Apple Cash Card.
The move is part of Apple's efforts to diversify its business beyond the declining smartphone market and get customers more deeply entwined with the company.