Once a Savings account is set up, all future Daily Cash earned by the user will be automatically deposited into the account. The Daily Cash destination can also be changed at any time, and there’s no limit on how much Daily Cash users can earn. To build on their savings even further, users can deposit additional funds into their Savings account through a linked bank account, or from their Apple Cash balance.
Apple has announced that it is growing the tools in the Wallet app with a savings account. That’s a big win for savers but could make Apple’s products even stickier… This is a great move for Apple and its shareholders.