The Apple Card customer agreement was updated this week to reflect the upcoming Daily Cash savings account feature, which was expected to launch with the latest version of the mobile operating system.
"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," reads an email sent to Apple Card holders this week.
In October, Apple announced that Apple Card users would soon be able to open a new high yield savings account from Goldman Sachs and have their Daily Cash rewards automatically deposited into it, with no fees, no minimum deposits, and no minimum balance requirements. The account will be managed on the phone.
The savings account was listed in the release notes for the release candidate, but it didn't launch. It's not clear when the savings account will be available, since it hasn't been included in any of the iOS 16.2betas.
If a user chooses to continue having Daily Cash added to their Apple Cash balance, then all Daily Cash received from that point on will be deposited into the account and earn interest. 3% Daily Cash is provided by the Apple Card on purchases made with Apple Pay.
Apple's credit card is only available in the US. 5% daily cash will be given to customers who sign up for an Apple Card and purchase Apple products through December 25.
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