iOS 16.4 Lays Groundwork for Apple Cash High-Yield Savings Account

Apple is preparing to release a new high-yield savings account option for Apple Card users, based on code that was found in the iOS 16.4 beta. The update lays the groundwork for the feature, which was announced in October.

Apple Card Savings
Since Apple announced plans for a high-yield savings account for the ‌Apple Card‌, it has not made any additional information available, including details on a launch. iOS 16.4 lays the groundwork for the feature, so it could be available alongside the iOS 16.4 release.

Code in iOS 16.4 has references to routing and account numbers, current balance, interest earned, data management, funds available for withdrawal, and more.

Apple will encourage customers to sign up for a savings account by providing a message that says "Transfer your Apple Cash balance to your savings account and start earning interest today" and "You can transfer up to [amount] from Apple Cash to your savings account in a single transaction and start earning interest today.

As with the ‌Apple Card‌, the high-yield savings account will be offered through Goldman Sachs. ‌Apple Card‌ owners will be able to opt-in to having their Daily Cash deposited automatically so that it can earn interest.

Apple has not yet provided the APR for the savings account that will be made available to ‌Apple Card‌ owners, and there is no mention in the code. There are also no signs of the savings account in the Wallet app as of yet.

The savings account and Daily Cash will be able to be managed through the Wallet app alongside the ‌Apple Card‌.

Related Forum: iOS 16

Popular Stories

iOS 26 Feature

iOS 26.1 to iOS 26.4 Will Add These New Features to Your iPhone

Saturday October 18, 2025 11:00 am PDT by
iOS 26 was released last month, but the software train never stops, and iOS 26.1 beta testing is already underway. So far, iOS 26.1 makes both Apple Intelligence and Live Translation on compatible AirPods available in additional languages, and it includes some other minor changes across the Apple Music, Calendar, Photos, Clock, and Safari apps. More features and changes will follow in future ...
ios 26 1 liquid glass opaque

iOS 26.1 Beta 4 Lets Users Control Liquid Glass Transparency with New Toggle

Monday October 20, 2025 10:57 am PDT by
With the fourth betas of iOS 26.1, iPadOS 26.1, and macOS 26.1, Apple has introduced a new setting that's designed to allow users to customize the look of Liquid Glass. The toggle lets users select from a clear look for Liquid Glass, or a tinted look. Clear is the current Liquid Glass design, which is more transparent and shows the background underneath buttons, bars, and menus, while tinted ...
iPhone Siri Glow

Some Apple Employees Have 'Concerns' About iOS 26.4's Revamped Siri

Sunday October 19, 2025 7:39 am PDT by
iOS 26.4 is expected to introduce a revamped version of Siri powered by Apple Intelligence, but not everyone is satisfied with how well it works. In his Power On newsletter today, Bloomberg's Mark Gurman said some of Apple's software engineers have "concerns" about the overhauled Siri's performance. However, he did not provide any specific details about the shortcomings. iOS 26.4 will...
iOS 26

iOS 26.0.2 Update for iPhones Coming Soon

Friday October 17, 2025 7:35 am PDT by
Apple's software engineers continue to internally test iOS 26.0.2, according to MacRumors logs, which have been a reliable indicator of upcoming iOS versions. iOS 26.0.2 will be a minor update that addresses bugs and/or security vulnerabilities, but we do not know any specific details yet. The update will likely be released by the end of next week. Last month, Apple released iOS 26.0.1,...
Apple iPad Pro hero M5

New iPad Pro Has Six Key Upgrades Beyond M5 Chip

Saturday October 18, 2025 10:57 am PDT by
While the new iPad Pro's headline feature is the M5 chip, the device has some other changes, including N1 and C1X chips, faster storage speeds, and more. With the M5 chip, the new iPad Pro has up to a 20% faster CPU and up to a 40% faster GPU compared to the previous model with the M4 chip, according to Geekbench 6 results. Keep in mind that 256GB and 512GB configurations have a 9-core CPU,...
maxresdefault

Here's How the iOS 26.1 Transparency Toggle Changes Liquid Glass

Monday October 20, 2025 1:55 pm PDT by
With the fourth beta of iOS 26.1, Apple added a toggle that makes Liquid Glass more opaque and reduces transparency. We tested the beta to see where the toggle works and what it looks like. Subscribe to the MacRumors YouTube channel for more videos. If you have the latest iOS 26.1 beta, you can go to Settings > Display and Brightness to get to the new option. Tap on Liquid Glass, then...
iOS 26

What's New in iOS 26.1 Beta 4

Monday October 20, 2025 1:02 pm PDT by
Even though we're at the fourth beta of iOS 26.1, Apple is continuing to add new features. In fact, the fourth beta has some of the biggest changes that we'll get when iOS 26.1 releases to the public later this month. We've rounded up what's new below. Liquid Glass Transparency Toggle Apple added a toggle for customizing the look of Liquid Glass. In Settings > Display and Brightness,...
HomePod mini and Apple TV

Apple's Next Rumored Products: New HomePod Mini, Apple TV, and More

Thursday October 16, 2025 9:13 am PDT by
Apple on Wednesday updated the 14-inch MacBook Pro, iPad Pro, and Vision Pro with its next-generation M5 chip, but previous rumors have indicated that the company still plans to announce at least a few additional products before the end of the year. The following Apple products have at one point been rumored to be updated in 2025, although it is unclear if the timeframe for any of them has...
kohler toilet sensor

Kohler Launches $600 iPhone-Connected Toilet Camera That Monitors Your Health Through Waste Analysis

Monday October 20, 2025 1:42 pm PDT by
Kohler is expanding its line of bathroom products with Dekoda, an iPhone-connected device that's designed to be attached to a toilet rim (via The Verge). The device's included "sensors" point into the toilet bowl, allowing it to analyze what goes on in the bathroom. According to Kohler, Dekoda is a health tracker that can monitor gut health and hydration, as well as detect the presence of...

Top Rated Comments

bradman83 Avatar
35 months ago

Interesting move by Apple and Marcus Bank/Goldman. I wonder how easy—or even possible—it will be to get funds out of the savings account and/or the Apple Pay ecosystem. It will also be interesting to see how the interest rate is set and how often it will be adjusted.
There are plenty of online-only banks, like Discover, that offer savings accounts and I would assume the Apple account would support withdrawal transfers via ACH like the other online savings products.
Score: 7 Votes (Like | Disagree)
jayducharme Avatar
35 months ago
I'll keep my eye on this. Brick and mortar banks in my area are offering zero percent interest, so it's an easy bar to clear for Apple. I want to see what they mean by "high-yield".
Score: 7 Votes (Like | Disagree)
macduke Avatar
35 months ago

How can it beat inflation?
Because most other investments are down? Hell, even my kid's 529 college fund is down and that uses the tried and true Vanguard fund. The only thing really making money right now for me is my high-yield 4.05% APY savings account through Wealthfront. Once the recovery gets more legs under it I'll roll some more of my excess liquidity out of there into some stocks and crap, although I'm likely going to have to buy a car later this year and used cars are roughly 45 billion dollars now (about a Twitter) so that's fun can't wait.

I take that back. My 2011 Subaru Outback has gone up several thousand dollars in value. And my house has gone up about 50% in value. Those are my best investments right now, lol.
Score: 5 Votes (Like | Disagree)
ProfessionalFan Avatar
35 months ago

Still US only years later.
Probably has more to do with your country and the regulations, than Apple deciding. So tell your politicians about it.
Score: 3 Votes (Like | Disagree)
rodpascoe Avatar
35 months ago

Still US only years later.
Yep, came here to say the same. Where is the UK love?
Score: 3 Votes (Like | Disagree)
munpip214 Avatar
35 months ago
I would like to see Apple Cash just become the savings account instead of adding yet another account.
Score: 2 Votes (Like | Disagree)