Goldman Sachs indicates that Apple's new Savings account could launch soon

Apple Card Savings
(Image credit: Apple)

A recent update from Goldman Sachs indicates that we could be nearing the launch of Apple's new Savings account.

Spotted by MacRumors, the financial firm sent an email out to Apple Card cardholders this week announcing that they were updating the Customer Agreement for users of Apple's credit card. Specifically, Goldman Sachs says that it made the change in order to add language around the upcoming Apple Savings account.

The email reads "to enable new ways to use Daily Cash like the upcoming Savings account feature, we are updating the Daily Cash Program section of your Apple Card Customer Agreement."

Apple Savings has already been delayed once

The move from Goldman could indicate that we are finally close to the launch of Apple Savings, Apple's new savings account that will be available exclusively at launch for Apple Card cardholders. 

Apple originally announced its new savings account for Apple Card users back in October and, at the time, the account was expected to show up when iOS 16.1 launched to iPhone users. Unfortunately, when iOS 16.1 officially launched towards the end of that month, the Apple Savings account was missing from the update, indicating that the new account had been delayed.

We haven't heard anything about the savings account since then so, with Goldman Sachs updating its Apple Card Customer Agreement this week, we could finally be nearing the launch of the new account.

Apple Savings is being marketed by the company as a "high yield" savings account that can become your new destination for Daily Cash earned from using your Apple Card. Account holders can also choose to deposit additional funds from their Apple Cash Card or external bank account to earn even more interest.

At launch, it appears that the account will be for Apple Card account owners and will not be able to be shared with Apple Card Family members. Of course, Apple could change any of this before the launch and surprise us with even more features when Apple Savings officially makes its debut.

Joe Wituschek

Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.