I don’t see the option to open a savings account
Apple Card offers the option to open a high yield savings account that cash back from my Apple Card will automatically go into but I don’t see the option to start it.
iPhone XR, iOS 13
The two most easily corrected issues are you’re not looking in your Wallet app and are looking in your Settings app, and you iPhone is not updated to the latest version of iOS? What version of iOS is you iPhone running?