The Apple Card’s savings account has racked up more than $10 billion in deposits since launching in April, according to Finextra.
The long-trailed Apple Card savings account from Goldman Sachs was launched in mid-April with a headline-grabbing 4.15% annual percentage yield – more than 10 times the national average, according to FDIC data.
All Daily Cash rewards earned through the Apple Card are automatically deposited into the savings account. Users can deposit additional funds through a linked bank account, or from their Apple Cash balance.
Apple now says that 97% of users have chosen to have their Daily Cash automatically deposited into their account.
“With each of the financial products we’ve introduced, we’ve sought to reinvent the category with our users’ financial health in mind. That was our goal with the launch of Apple Card four years ago, and it remained our guiding principle with the launch of Savings,” says Jennifer Bailey – VP, Apple Pay and Apple Wallet.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
