If you use Apple Card, an Apple and Goldman Sachs–issued credit card that’s built in to your Wallet app, you’ll be able to deposit all cash-back rewards you earn into a “high-yield” savings account offered by Goldman Sachs.
It’s free, and you don’t need to maintain any minimum balance or make minimum deposits. You can draw that cash out directly to your “real” bank account any time you like. (You can also transfer money from your actual bank account to the Apple savings account on your phone, although why you would want to do so is unclear.)
As of press time, Apple had not revealed the interest rate on the savings account.
