In the coming months, Apple (AAPL  ) will launch a new way for iPhone users to use their credit card reward from their Apple Cards: transfering that money to a new high-yield savings account managed by Goldman Sachs (GS  ).

According to Apple, this type of savings account will come with any fees, minimum deposits, or minimum balance requirements. As soon as this new deal comes out, Apple Card users will be able to handle their savings accounts straight from the Apple Wallet mobile app. From this point on, all the Daily Cash that users gain via Apple Card will instantaneously be saved into this account.

"Savings enables Apple Card users to grow their Daily Cash rewards over time, while also saving for the future," Jennifer Bailey, Apple's vice president of Apple Pay and Apple Wallet, said in a statement. "Savings delivers even more value to users' favorite Apple Card benefit - Daily Cash - while offering another easy-to-use tool designed to help users lead healthier financial lives."

Users also have the option of changing their Daily Cash destination whenever they wish to do so. They are able to place additional money into their savings accounts through either a linked bank account or directly from their Apple Cash. The options of taking out or transferring funds are possible through Apple Cash or a linked bank account as well. Apple Cash users are able to obtain 3% of Daily Cash on buys made with their Apple Card via Apple Pay, through companies like Uber (UBER  ) and its Uber Eats arm, Walgreens (WBA  ), Nike (NKE  ), Panera Bread, and more.

This new savings account coming from Goldman Sachs appeals to financial health benefits and Daily Cash that is accessible through the Apple Card. The Apple Card is established through the Wallet on iPhone, totally changing the credit card experience for the better by making the entire process much more secure and convenient for users to earn interest on money saved.