The Foundation for Apple Cash High-Yield Savings Account is Set in iOS 16.4

Based on code that was discovered in the iOS 16.4 beta, Apple is getting ready to launch a new high-yield savings account option for Apple Card users. Apple has not provided any more details, such as information on a launch, since announcing plans for a high-yield savings account for the Apple Card.

The feature’s foundation is laid in iOS 16.4, so it might be released concurrently with iOS 16.4. Routing and account numbers, the current balance, interest accrued, data management, the amount of money available for withdrawal, and other information are all mentioned in the code in iOS 16.4. The high-yield savings account will be made available through Goldman Sachs, just like the Apple Card.

Owners of Apple Cards will be able to choose to automatically deposit their Daily Cash so that it can earn interest. The APR for the savings account that owners of Apple Cards will have access to has not yet been disclosed by Apple, and there is no mention of it in the code. Along with the Apple Card, the savings account and Daily Cash will be able to be managed through the Wallet app.