• Information you provide when setting up your Savings account will be used by Apple and Goldman Sachs to verify your identity and prevent fraud.
• Some of the above information, and account- and device-related information may be used by Goldman Sachs and its service provider, Apple Payments Inc., to prevent fraud when you link a bank account to your Savings or transfer money to or from your Savings account.
• Apple uses Apple Payments Inc., a wholly owned subsidiary, to protect your privacy by processing information about your Savings transactions separately from the rest of Apple.
• Savings data that can no longer be tied to you, such as your most frequently used Savings’ features, may be used by Apple to improve Savings and other Apple products and services.

Setting Up Your Savings Account

To open a Savings account, you must have an Apple Card account. To learn more about how this feature uses your information, visit Apple Card & Privacy at www.apple.com/legal/privacy/data/en/apple-card.

When you create your Savings account, the information shown below may be used by Apple and Goldman Sachs Bank USA, Salt Lake City Branch (“Goldman Sachs”) to verify your identity and to help prevent fraud. Goldman Sachs also uses this information to set up your account and for required due diligence.

• Your Apple ID and the name, phone numbers, and physical and email addresses associated with it
• General information about your Apple ID, iTunes, and App Store account activity (for example, whether you have a long history of transactions within iTunes)
• Information about your device (for example, a device identifier, phone number, IP address, and the name and model of your device)
• Account or device history of adding payment cards
• Aggregated stats relating to the information from payment cards you’ve added or attempted to add to Apple Pay

For tax compliance purposes, Goldman Sachs will also ask for your social security number and tax withholding status; Apple does not read or store this information.

Information about your coarse location at the time you create or update your Savings account, or the first time you open Savings on a device, is used by Apple and Goldman Sachs to prevent fraud if you have enabled Location Services for Wallet. Just as when you add any payment method to Apple Pay, or when you apply for or provision Apple Card, information about your device, such as whether certain device settings are enabled, and device use patterns (for example, percent of time device is in motion, or approximate number of calls per week) may be sent to Apple to prevent fraud. Apple may also receive information from your carrier about your Savings account phone number to prevent fraud. To learn more about how to control access and use of your device location, visit Location Services & Privacy at www.apple.com/legal/privacy/data/en/location-services.

When you set up your Savings Account, Goldman Sachs will send Apple your Savings account and routing numbers to make available to you on your device within Savings. Apple does not store this information.

Using Your Savings Account

You can view and manage your Savings account on your device, including viewing your Savings account number, routing number, and transaction history, seeing your account balance change over time, updating your account information, and linking other bank accounts to transfer money to or from Savings.

Goldman Sachs and Apple Payments Inc. will store and use your Savings transaction data for troubleshooting, to prevent fraud, and to comply with financial regulations once a transaction is completed. Apple created Apple Payments Inc., a wholly owned subsidiary and licensed money transmitter, to protect your privacy by storing and processing your personal data separately from the rest of Apple and in a way that the rest of Apple doesn’t know. Your personal data stored with Apple Payments Inc. in connection with your use of Savings is used only to provide you services that you request, for troubleshooting, regulatory purposes, and to prevent fraud.

Apple also delivers and stores individual Savings transaction information in your iCloud account and keeps your transaction history up to date across your devices. Your transactions are stored in iCloud using end-to-end encryption, providing a high level of data security. Your data is protected with a key derived from information unique to your device, combined with your device passcode, which only you know.

When you link a bank account to Savings, or transfer money to or from a linked banked account, Apple may receive and use information about that bank account, such as the bank name and an account ID associated with that bank account, to set up the link between Savings and your bank account. Apple may also share this information with Goldman Sachs and Apple Payments Inc., along with information about your location, to prevent fraud. You may also be asked to verify ownership by having Goldman Sachs send two small deposits to the account and verifying their amounts on your Apple device or by contacting support. Apple will see but not store information about the amounts and whether the verification was successful. Linking a bank account to Savings or your Apple Card account will cause it to appear as a linked bank account in both your Savings and Apple Card account; deleting a bank account from your Savings or Apple Card account will cause it to disappear as a linked bank account in both features.

When you add a beneficiary to Savings, the beneficiary’s full name and address, as well as their encrypted date of birth and Social Security number will be sent through Apple to Goldman Sachs. Apple will see but not store whether the beneficiary has been successfully added. When you view your active beneficiaries, the beneficiary information will be sent by Goldman through Apple servers for display on your device. Apple sees but does not store the beneficiary information.

Savings and Family Sharing

Savings account holders cannot share their Savings account using iCloud Family Sharing, but Apple Card Co-Owners can each create an individual Savings account for themselves. When a Co-Owner links a bank account to their Savings or co-owned Apple Card account, it will appear as a linked bank account only for that Co-Owner’s individual Savings account, and will also appear for both Co-Owners in their Apple Card account. Deleting a linked bank account from your Savings or co-owned Apple Card account will not delete the linked bank account from your Co-Owner’s Savings account.

Savings and Analytics

To help improve Savings, Apple collects information about the Savings account creation process and the use of Savings features in the Wallet app and stores that information in a way that does not identify you personally. This information includes the time it takes to complete the account creation process and which Savings features are most frequently used, such as the list of most recent transactions. Apple may also use this information to improve Apple products and services, for marketing, and for fraud and security purposes.

Savings and Communications

Apple may use your Savings account status, such as whether you have applied for or have a current Savings account, to determine whether a message is relevant to you, including a marketing message. Anonymous and aggregate information that cannot be tied to you may also be used for Savings marketing and other messaging. You can opt out of marketing messages by clicking the unsubscribe link in a marketing email or by turning off notifications for Wallet.

Savings Support

If you have questions about Savings, you can contact support through your Wallet app by initiating Messages. Apple will use any information you share, including personal data, to process your request. If your inquiry must be sent to Goldman Sachs for servicing, Apple will share information about you and your inquiry with Goldman Sachs so that they may better help you. Apple will not retain any personally identifiable financial information that it sends to Goldman Sachs for servicing. You can also contact support directly with questions by calling 877-255-5923.

Closing Your Savings Account

If you close your Savings account, information about your Savings account will remain in Settings > Wallet & Apple Pay > Closed Accounts, where you can view your prior statements and tax documents.

Updating Your Information

You can update your Savings account information in Wallet. You can also update your Savings account information by contacting Goldman Sachs. Goldman Sachs may share updated Savings account information with Apple for purposes of providing Savings services.

More Information

Apple will use your information and may share your information with Goldman Sachs as required by law and for fraud prevention. Apple and Goldman Sachs may share account information to provide you with critical updates regarding Savings account availability. Savings-related information may be used by Apple to the extent necessary and required to comply with law or valid legal process, even after you have closed your account. You can learn more about how Goldman Sachs protects your personal data by reviewing their privacy policy, available at https://www.goldmansachs.com/privacy-and-cookies/c-privacy-policy.html.

By using Savings, you agree and consent to Apple’s and its subsidiaries’ and agents’ transmission, collection, maintenance, processing, and use of your information as described above.

Apple retains personal data only for so long as necessary to fulfill the purposes for which it was collected, including as described in this notice and in accordance with Apple’s Privacy Policy, or as required by law. When assessing retention periods, we first carefully examine whether it is necessary to retain the personal data collected and, if retention is required, work to retain the personal data for the shortest period permissible under law.

At all times, information collected by Apple will be treated in accordance with Apple’s Privacy Policy, which can be found at www.apple.com/privacy

Published Date: March 5, 2024