Apple’s freshly launched high yield savings account brought in as much as $990 million in deposits over its first four days, according to Forbes. On launch day alone, the savings account drew nearly $400 million deposits.
The account’s eye-catching 4.15% annual return, plus the ubiquity of iPhones, is likely the main driver for account openings, especially when the average bank is paying less than half a percent. By the end of launch week, roughly 240,000 accounts had been opened, one source adds. The account is offered through a partnership with Goldman Sachs Bank USA.
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The new savings account is only available to holders of Apple’s credit card, Apple Card. Clients can open a savings account in less than one minute directly from their iPhone. Apple Card spend rewards, called daily cash, are automatically directed into the high yield account.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
