APPLE BANK SMARTSTART SAVINGS
SmartStart Savings for Young Adults
Set yourself up for savings success with the SmartStart Savings account — designed especially for young adults ages 18-25.
Earn a higher interest rate compared to traditional savings accounts and save more of your money by paying no fees.
Earn 5.00% APY1
Apple Bank SmartStart Savings pays 13x the national average2 on balances from $1.01 to $10,000. That means you could earn more interest in one month than you would in an entire year at a different bank.
At home, school, or traveling abroad you get cash out of any ATM without ever worrying about paying fees or extra charges.
Get digital tools like mobile deposits, automatic transfers, notifications and balance monitoring on your smartphone4 to make saving easier.
Apple Bank SmartStart Savings helps you save and manage your money every day.
Take charge of your future.
SmartStart Savings puts you in control of your savings. Start small with a monthly savings goal that you can achieve. Pay yourself first by setting aside a percentage of your paycheck each week. To help make sure you can stick to it, set up automatic transfers from your checking to savings each month to get into the habit of routine saving.
Family and friends can help you save money.
Easily and securely transfer funds you receive through Zelle®5, Venmo®, CashApp®, and WhatsApp® from your family and friends to your SmartStart Savings account. Deposit birthday checks and paychecks with a quick snap on your smartphone6.
Learn to budget in college and beyond.
Split your income into three categories: 50% for needs, 30% for wants and 20% for savings. Set savings goals and spending limits for extras like entertainment and eating out with any surplus you have after your essentials are taken care of. Simplify your budgeting further with automated deposits and notifications for when you reach your spending limits.
Stay organized, reach your goals.
SmartStart Savings digital tools automatically organize your expenses into categories like food & dining, entertainment, transportation, and shopping. Seeing where your money goes each month helps you better understand your spending habits and look for opportunities to save more for your bigger goals.
Turn your smartphone into a powerful savings tool with the Apple Bank Mobile app.4
Whether it is a birthday check or your paycheck, instead of carrying it around for weeks, you can deposit it into your Apple Bank SmartStart account quickly without having to visit a branch. Simply snap a photo of the check using your mobile device and it will deposit instantly6.
Receive money from mom and dad or move money between your own accounts in just a few moments. Save time and avoid late fees by setting up re-occurring transfers between accounts to pay for regular expenses or just move money from your checking to savings account each month to put away money for an emergency fund.
Split lunch, cover rides, or payback friends. In as little as a few minutes, send money to people and businesses you know and trust via Zelle®5. Simply select the person you want to send money to from your contacts and enter how much. All you need is their name, email, or U.S. mobile number.
Stay on top of how much money you have without having to log in by setting up alerts on your daily balance, incoming deposits, and daily transactions.
Add your debit card to Apple Pay®, Google Pay™, or Samsung Pay® to make routine purchases without needing to carry your debit card. Instantly lock8 your debit card if it is lost or stolen and unlock it if you find it. Set travel notices on your debit card to ensure uninterrupted use while traveling.
Explore ways to meet your savings goals.
Saving money can be a challenge. Whether it is for a special event, travel, tuition, a car, or just a rainy day, Apple Bank is here to make life easier with these practical tips and ideas.
Skip rideshares and taxis—use public transit instead. If you save $10 per ride and take five fewer rides a week, that’s $200 a month. Deposit those savings into your account, and you will earn your wheels faster.
Buy gently used books and tech. A new laptop might cost $1,000, but a refurbished one could be half that amount, saving you $500. Buying used textbooks may save you $200 or more per semester. Deposit these savings into your account, and watch your tuition fund grow.
Cut back on $5 coffee drinks and save $20 a week; that is $80 a month. With major festival tickets costing around $400, you could save enough in just five months to enjoy your favorite event without straining your finances.
Stay in hostels instead of hotels to save $50 or more per night. Book flights early for lower fares and use student discounts to save on attractions. Spend $200 less on your trip and put that money toward your next big adventure.
Living with a roommate now can save you hundreds monthly. Splitting rent, utilities, and food could save $500 or more a month. Deposit those savings into your housing fund, and in just a year, you will have $6,000 to put toward your dream space.
Learn more about how interest works.
Interest is like a reward for keeping your money in the bank. Apple Bank adds a little extra money to your savings each month in the form of interest. The more you save—and the longer you keep your money in your account—the more it continues to grow. Even small amounts can really add up if you create a regular savings habit.
Example is based on saving $15 a week for 7 years vs 4 years at 5.00% APY1 for balances under $10,000.00. Interest compounding daily. For illustrative purposes only and may not apply to your individual circumstances.
Apple Bank Visa® Debit Card7 can help you save more.
Apple Bank SmartStart Savings comes with an Apple Bank Visa Debit Card that provides extra benefits. Enjoy ways to save on everyday purchases and travel, plus other features that make your life easier.
Apple Bank Visa® Debit Card7 can help you save more.
Apple Bank SmartStart Savings comes with an Apple Bank Visa Debit Card that provides extra benefits. Enjoy ways to save on everyday purchases and travel, plus other features that make your life easier.
- Merchant Discounts – Locate discounts from a wide variety of businesses including hotels, travel excursions, car rentals, sports gear, and other participating online merchants. Claim Exclusive Perks with Your Debt Card
- Booking.com - Purchase qualifying stays with your Visa Debit card and get up to 8% back in Travel Credits to use on future flights, stays, car rentals, attractions, taxis and more. Sign Up for Free
- Dovly Premium – A mobile and web app that tracks, manages, and fixes your credit score for free—worth $120 per year. This Visa Debit Card perk includes a smart credit engine, credit monitoring, alert systems, and automated dispute services. Learn About Service
- Sofar Sounds – A global music community that connects artists and audiences through live music. Validate your debit card to unlock presale tickets and access two free ticket offers per year. Explore Your Visa Debit Benefits
Ready to get started with Apple Bank SmartStart Savings?
Open Online or in a Branch
All you need is $1.00 as a minimum opening deposit, and your government issued identification (e.g., driver's license, passport, state ID).
Download the App
Download the Mobile App4 from the App Store® for Apple devices or the Google Play™ Store for Android™ devices.
Get Your Debit Card7
Get your debit card by mail in 5-7 business days. Set up your digital wallet to use Apple Pay®, Samsung Pay®, or Google Pay™ to pay almost anywhere.
SmartStart Savings FAQs
Answers to frequently asked questions.
This account is available to children and young adults between the ages of 6 and 25. A parent or guardian must open the account jointly for those between the ages of 6 and 17. For those between the ages of 18 and 25, you can open the account individually or jointly. The account is also available for the parent or guardian to open the account as a Uniform Transfers to Minors Act (UTMA) for minors up to 21 years of age.
Once the account holder turns 26, it will automatically convert to an Apple Bank Simple Savings account within the quarter following their 26th birthday.
The minimum amount to open this account is $1.
The minimum amount to earn interest on this account is $1.01.
No! The account has no monthly maintenance fees.
Yes, account holders ages 13 through 17 are eligible to request an Apple Bank Visa® Debit Card as long as their account is joint parent or guardian. Account holders ages 18 through 25 will be issued a debit card at account opening.
No, the debit card does not have any fees!
- ATM: There are no fees when using non-Apple Bank ATMs. Plus, Apple Bank will reimburse all surcharges imposed by the ATM owner/operator during each statement cycle period.
- Point-of-Sale Transactions (POS): There are no fees for domestic and international POS transactions.
The money in your checking, savings, CDs, and money market deposit accounts are protected by FDIC insurance up to $250,000 per depositor, for each account ownership category. Learn More
An Interest Rate is the basic percentage of interest earned on the principal amount over a specified period, usually a year.
An Annual Percentage Yield or "APY" measures the total amount of interest paid on an account based upon the interest rate and the frequency of compounding. The APY is expressed as an annualized rate. It assumes all principal and interest remains on deposit for the entire year or term of the account.
Essentially, an interest rate is a simple percentage of interest earned on the principal, while APY reflects the total interest earned over a year, including the effects of compounding.
For example, the rate for the SmartStart Savings is 4.88% and if you deposited $1,000 into your account, and left your balance and let the monthly interest credited to your account monthly remain in your account as well for one year, you will earn 5.00% APY.
In terms of interest, “compounding” means that once credited, interest earns interest when left in the account. The SmartStart Savings account compounds interest daily, using a 365/365 computation factor. Once credited, interest is added to the principal balance and thereafter, if not withdrawn, the amount credited will earn interest (i.e., it will compound) each month or quarter. Specific interest compounding methods for your account are outlined in our Truth in Savings account disclosures.
You can send money to friends and family you trust with a daily transaction limit of $2,000 and a monthly limit of $10,000. If you would like to request a higher limit, please contact us at 914-902-2775 and we can evaluate if you meet the criteria for a higher limit. For more information on Zelle, visit Zelle’s FAQs.
You can deposit check(s) up to $10,000 a day through the mobile deposit service with a maximum of $25,000 a month. If you would like to request a higher limit, please contact us at 914-902-2775 and we can evaluate if you meet the criteria for a higher limit.
You can schedule a transfer to or from your account at another bank for up to $10,000 a day with a maximum of $10,000 a month. If you would like to request a higher limit, please contact us at 914-902-2775 and we can evaluate if you meet the criteria for a higher limit.
The Apple Bank SmartStart Savings account is available to minors and young adults ages 6 through 25. Accountholders must be able to write their name and provide one form of identification, such as a birth certificate or school photo ID. The Apple Bank SmartStart Savings account is available to minors ages 6 through 17 with a parent or guardian as a joint owner. A parent or guardian may also open the Apple Bank SmartStart Savings account as a Uniform Transfers to Minors Act (UTMA) account for minors and young adults up to 21 years of age. There is a $1.00 minimum deposit to open an account. There is no minimum daily balance requirement to maintain the account and no monthly maintenance fee regardless of account balance.
1Annual Percentage Yield (APYs) disclosed are effective as of June 1, 2026 and may be changed by the Bank at any time, including after account opening. This is a tiered rate account. Minimum daily balance to earn interest is $1.01. Tier 1 – An interest rate of 4.88% will be paid on the entire portion of your daily balance up to, but not exceeding, $10,000.00. The APY for this tier is 5.00%. Tier 2 – An interest rate of 0.75% will be paid only for that portion of your daily balance that is above $10,000.00. The APY for this tier will range from 5.00% to 2.87%, depending on the balance in the account. APY range computation is based on an assumed account balance of $20,000.00. If your balance exceeds $10,000.00, a blended rate will be used to reflect the APY on your account statement and will be based on the number of days in your statement cycle. The blended APY decreases as your account balance increases above $10,000.00.
2National Average is based on the APY average for savings and interest-bearing checking accounts with a minimum balance of at least $2,500.00 as reflected in the FDIC’s published National Rates and Rate Caps for savings deposit products, accurate as of May 18, 2026. See the FDIC website for more information.
3There are no fees when using non-Apple Bank ATMs, and Apple Bank will reimburse all surcharges imposed by the ATM owner/operator during each monthly statement cycle period. There are no fees for domestic and international Point-of-Sale Transactions when using an Apple Bank Visa® Debit Card.
​4 Data fees from your mobile carrier may apply.
5 U.S. checking or savings account required to use Zelle®. Transactions between enrolled consumers typically occur in minutes.
6 Mobile check deposits are subject to verification and to Apple Bank’s rules governing funds availability. For Apple Bank’s funds availability schedule, see the About Your Apple Bank Accounts Rules and Regulations, “Funds Availability”.
7Account holders ages 13 through 17 are eligible to request an Apple Bank Visa® Debit Card for this account where the account is joint with a parent or guardian. Accountholders 18 years and older may request a debit card without a parent or guardian.
8When you place a lock on your debit card, it will prevent most types of card transactions from being processed until you take action to unlock your card. However, locking your card will not stop card transactions presented as recurring transactions, transactions that occurred prior to locking the card, or the posting of refunds, reversals, or credit adjustments to your account. Locking your card is not a replacement for reporting your card lost or stolen. This feature is available on the Apple Bank Debit Card app for Apple and Android devices. Data connection required. Wireless carrier fees may apply.
Zelle®â€¯and the Zelle®â€¯related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
Venmo is a service of PayPal, Inc., a licensed provider of money transfer services. All money transmission is provided by PayPal, Inc. pursuant to PayPal, Inc.’s licenses. © 2021 PayPal, Inc.
CashApp is a mobile payment service provided by Square, Inc. (now known as Block, Inc.). Use of the CashApp name on this site does not imply any affiliation or endorsement by Square/Block.
WhatsApp is a trademark of WhatsApp LLC, a Meta company. This site is not affiliated with, endorsed by, or sponsored by WhatsApp LLC or Meta Platforms, Inc.
Apple, Apple Pay® and App Store are registered trademarks of Apple Inc. Android, Google Play and Google Pay™ are trademarks of Google LLC.​ Samsung Pay® is a registered trademark of Samsung Electronics Co., Ltd.
Visa is a registered trademark of Visa International Service Association and is used by the issuer pursuant to license from Visa U.S.A Inc.