The steps to close an Apple Savings Account
To close your Apple Savings Account, you log into Apple Wallet on your iPhone, tap the Apple Card, scroll to your savings account, and select "Close Account." Apple will walk you through confirming the closure and moving any remaining balance. The account closes immediately, though any pending transfers or deposits may take a few business days to settle.
Before you close, make sure your account balance is zero or that you have arranged to move the money somewhere else. Apple will not let you close an account with an active balance — you must either withdraw the funds or transfer them to another bank account linked to your Apple ID.
If you cannot access your iPhone or the Wallet app, you can also call Apple Support at 1-800-MY-APPLE and ask them to initiate the closure. They will verify your identity and process the request on your behalf, though you will still need to move any remaining funds first.
Key Takeaways
- You close an Apple Savings Account directly through the Wallet app by finding the account and selecting "Close Account."
- Your account balance must be zero before closure — you must withdraw or transfer all remaining money first.
- Closure takes effect immediately, but any pending transactions may take a few business days to complete.
- If you cannot use your iPhone, Apple Support can help you close the account over the phone.
- After closure, you will no longer earn interest on any funds, and the account will no longer appear in your Wallet.
Moving your money before you close
Apple Savings Accounts are held through Goldman Sachs, and your money sits in a separate account from your Apple Card checking account. Before closing, you need to decide where that money goes. You can transfer it to another bank account, move it to your Apple Card checking account if you have one, or withdraw it as cash.
To transfer to an external bank account, go to the savings account in Wallet, tap "Transfer Money," and choose "Move to External Bank Account." You will need the routing number and account number of the receiving bank. Transfers typically take one to three business days, depending on your bank.
If you want to move the money to your Apple Card checking account instead, select "Transfer Money" and choose that account from the list. This transfer is usually instant or completes within hours.
What happens to your interest after closure
Apple Savings Accounts earn interest at a rate that changes based on market conditions — Goldman Sachs sets the rate, and it varies over time. Once you close the account, you stop earning interest immediately, even if you have not yet withdrawn the money. Interest accrues only on funds that remain in the active savings account.
If you close mid-month, you will receive interest only through the day of closure. Interest is typically paid monthly and deposited directly into your savings account before you transfer it out. Check your account statements to see when your last interest payment posted.
Closing the account if you have a linked Apple Card
Your Apple Savings Account and Apple Card are separate products, and closing one does not affect the other. You can close your savings account and keep your Apple Card active, or close both if you want to end your relationship with Goldman Sachs entirely.
If you close only the savings account, your Apple Card checking account (if you have one) remains open and functional. You can still use the card for purchases and receive deposits. The savings account was always optional — many Apple Card holders never open one.
To close your Apple Card itself, you would follow a different process through the Wallet app or by calling Apple Support. Closing the card does not automatically close any linked savings or checking accounts, so you would need to handle those separately.
Timing and what to expect after closure
Once you confirm closure in the Wallet app, the account closes within minutes. The account will no longer appear in your Wallet, and you cannot reopen it — if you want a savings account later, you would need to start a new one from scratch.
Any pending deposits or transfers may still process after the account closes, depending on when they were initiated. If you initiated a transfer to an external bank before closing, that transfer will complete even though the account is now closed. Check with your receiving bank if the money does not arrive within the expected timeframe.
If you had automatic transfers set up (for example, a weekly deposit from your paycheck), those will stop once the account closes. You do not need to cancel them manually — they end automatically when the account ends.
If you cannot close the account through the app
If you see an error message when trying to close, or if the "Close Account" option does not appear, the most common reason is that your account balance is not zero. Go back and transfer or withdraw all remaining funds, then try again.
If the option still does not appear after your balance is zero, try signing out of Wallet and signing back in, or restart your iPhone. If the problem persists, contact Apple Support at 1-800-MY-APPLE. They can check your account status and close it for you if there is a technical issue preventing you from doing it yourself.
You can also reach Apple Support through the Wallet app itself — open the app, tap your Apple Card, scroll down, and select "Help" or "Contact Us." They will ask for your Apple ID and may verify your identity before processing the closure.
Frequently Asked Questions
Can I reopen my Apple Savings Account after I close it?
No. Once closed, the account cannot be reopened. If you want a savings account with Apple later, you would need to open a new one. There is no waiting period — you can open a new account immediately if you change your mind.
What happens to my interest if I close mid-month?
You receive interest only through the day you close the account. Interest is calculated daily and paid monthly, so your final payment will reflect only the days your money was in the account during that month.
Do I have to close my Apple Card if I close my savings account?
No. Your savings account and Apple Card are separate. You can close the savings account and keep the card, or keep both open. Closing one does not affect the other.
How long does it take for money to transfer after I close?
If you transferred money to an external bank before closing, that transfer will complete in one to three business days depending on your bank. If you moved money to your Apple Card checking account, it usually arrives within hours.
What if I forgot to transfer my money before closing?
Contact Apple Support immediately. If the account has just closed, they may be able to reopen it temporarily so you can transfer the funds. The sooner you call, the better your chances — do not wait.