[Updated] Apple Card Savings account not showing up? Here's what you should know

Here’s the crux of the article in video form:

New updates are being added at the bottom of this story…….

Original story (published on April 18, 2023) follows:

Apple recently launched the Savings account feature for Apple Card that aims at maximizing savings by offering a 4.15% APY. This is much higher than the industry standard and 10 times higher than regular banks.

However, like every new feature release, users are experiencing some trouble trying to access what’s newly added. It appears that Apple Wallet users are not able to find the Savings account option at the moment.

Apple Card Savings account not showing up

Apple Wallet users are complaining (1,2,3) that the Savings account option is not showing up under their Apple Card preferences. For some, it showed up for a while but disappeared soon after.

But before we get to that, it’s important to learn about the steps to find the feature and the eligibility criteria for the same. Here’s how to sign up for the Savings account:

To sign up, go to Apple Card -> “…” on the top right -> Daily Cash -> Savings under “Daily Cash Election”
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The Savings account is only available for Apple Card users in the US at the moment. Unfortunately, there are users who are eligible for access and have followed the above-mentioned steps but still can’t find the feature.

It appears that the update is currently rolling out in stages. This means that your friend may receive the feature much earlier than you do or vice versa.

For some, the feature appeared automatically after waiting for some time. In rollouts like these, it’s important to stay patient even if it makes you jealous of those who received it before you.

However, if you desperately want to access the new Savings account, you can try clicking this link on your iPhone to check if you’re currently eligible. Some also recommend updating to the latest iOS build.

We hope that the devs roll out the Apple Card Savings account to everyone as soon as possible. We’ll keep an eye on this matter and update this story to reflect noteworthy developments.

06:16 pm (IST): If you have applied for a savings account, you reportedly have 90 days to opt out of the arbitration provision.

The arbitration provision basically prevents users from filing suits against the company after a specific period.

Moreover, a Redditor said that they were told to call at 877-255-5923 in order to opt out of the provision and it wasn’t done via iMessage.

05:42 pm (IST): In some cases, individuals who move money from other savings accounts to the Apple Savings account receive fraud notifications (1,2).

The bank also stopped some users’ transfers perhaps because it’s been just introduced. But here’s how you can make the transaction seem less shady:

Maybe best practice move savings account to Apple Cash then move that to Apple Savings Account
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04:47 pm (IST): Apple Card Savings Account option is reportedly (1, 2, 3) not available on iPad and iPhone 7 or below models.

04:47 pm (IST): It has been reported by users that in order to access the savings account, it is mandatory to have iOS 16.4.1, and not even 16.4 will suffice (1,2).

So the issue was resolved by updating to the latest iOS version.

04:12 pm (IST): Reports indicate that some people want a web portal to handle their Apple Card Savings account. Unfortunately, an iPhone or iPad are the only devices that can access it right now.

Is there any way to access my Apple Card savings account through web browser?
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Can I see manage Apple Card Savings via web browser?
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07:39 pm (IST): Even though some people are experiencing trouble accessing their Apple Card Savings accounts, it appears to be a huge success.

According to a report, Apple Cards owners made deposits of nearly $1 Billion, just four days after the launch of Savings Accounts.

11:42 am (IST): There are some users who have been experiencing issues when trying to link their bank accounts to the Apple Card Savings account (1, 2).

For those cases, there’s a potential workaround suggested by a redditor:

I had the same issue and the solution I found was adding my cap one checking 360 and move from saving to checking No issue so far just adding an extra step if you don’t mind
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04:45 pm (IST): There are users who got their Apple Card savings account blocked. This means that any money they have transferred there is inaccessible until the issue is resolved by contacting Apple.

To avoid this, another user recommends not doing much heavy spending with a new account, since this could be taken as suspicious activity.

Separate out your spending, new acct too much heavy spending. Use your Amex to purchase plane tickets.
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The ideal would be to use other accounts for heavy spending, gradually increasing the expenses of the Apple Card savings account over time.

Note: You can also check out our iOS 16 bugs, issues, and new updates tracker.

Featured image source: Apple.

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