How to Earn Interest on Apple Cash
In today’s digital age, managing finances has become more convenient than ever. Apple Cash, a feature integrated into the Apple Wallet, allows users to store money and make purchases with ease. But did you know that you can actually earn interest on your Apple Cash balance? Yes, you read that right! This article will guide you through the steps on how to earn interest on Apple Cash.
Understanding Apple Cash
Before diving into the process of earning interest, it’s essential to understand what Apple Cash is. Apple Cash is a digital wallet that allows you to store funds, send money to friends and family, and make purchases with your iPhone, iPad, or Mac. By linking your bank account to Apple Cash, you can easily transfer money between your bank and the wallet.
Enrolling in Apple Cash
To start earning interest on your Apple Cash balance, you must first enroll in the service. Open the Wallet app on your iPhone, tap the Apple Cash card, and then select “Manage Apple Cash.” Follow the prompts to link your bank account and activate the Apple Cash feature.
Enrolling in the Apple Cash Savings Account
Once you have enrolled in Apple Cash, you can now enroll in the Apple Cash Savings Account. This account is offered through Goldman Sachs Bank USA and allows you to earn interest on your balance. To enroll, tap the “Apple Cash Savings” link within the Wallet app and follow the on-screen instructions.
Linking Your Bank Account
To earn interest on your Apple Cash balance, you must link your bank account to the Apple Cash Savings Account. This will ensure that your balance is transferred to the savings account, where you can start earning interest. You can link your bank account by entering your account and routing numbers within the Wallet app.
Earning Interest
Once your bank account is linked, your Apple Cash balance will be transferred to the Apple Cash Savings Account, where you can start earning interest. The interest rate is variable and may change at any time. As of now, the interest rate is typically higher than traditional savings accounts, making it an attractive option for earning interest on your cash.
Accessing Your Interest Earnings
Your interest earnings will be automatically added to your Apple Cash Savings Account balance. You can view your interest earnings by tapping the “Apple Cash Savings” link within the Wallet app. If you wish to withdraw your earnings, you can transfer them back to your linked bank account or use them for purchases within the Apple Cash ecosystem.
Conclusion
Earning interest on your Apple Cash balance is a simple and convenient way to boost your savings. By enrolling in the Apple Cash Savings Account and linking your bank account, you can start earning interest on your cash. Take advantage of this feature to make the most of your digital wallet and grow your savings.
