Apple Card child's Daily Cash deposit to parent's savings account?

[andrewj]

I have an Apple Card with savings account set up where I added our child (who's 15) as a participant. Is there a way to get the Daily Cash from her purchases applied to my (the parent's) savings account? I don't see a way you can do that when you access her Apple Card on her iPhone.

 

[CharlesShaw]

I can’t believe I just read all the fine print, lol. I think the simplest option would be to not set up Apple Cash on her phone, so that any Daily Cash she earns will just be credited back the owner’s account.

 

[andrewj]

I heard from Apple that the Apple Card Daily Cash only accumulates to that person's account, even though if the participant is a child. It would make more sense for the Daily Cash to redirect to the parent's savings account.

 

[CharlesShaw]

I heard from Apple that the Apple Card Daily Cash only accumulates to that person's account, even though if the participant is a child. It would make more sense for the Daily Cash to redirect to the parent's savings account.

Ah, I skipped over the part where they say you need to contact Goldman Sachs for the option I said earlier. If you don’t want to do that, just make sure she doesn’t think that spending more money is helping the family by earning cash, lol.

”6. …Participants under 18 on Apple Card Family accounts must have the family organizer of their Apple Cash Family set up their own Apple Cash card. If you do not have an Apple Cash account, Daily Cash can be applied as a credit on account owner’s statement balance by contacting Goldman Sachs Bank USA.“

Apple Card - Family

Apple Card Family Participants and Co-Owners do not need to have a familial relationship, but must be part of the same Apple Family Sharing group.

www.apple.com