"Apple's High-Yield Savings Account Attracts Billions in Deposits in Record Time"
TL;DR
Apple's new high-yield savings account, launched last month, attracted nearly $1 billion in deposits in just four days, with nearly 240,000 accounts opened. The savings account, which offers a yield of 4.15% and no fees, is available to Apple Card customers through its partner, Goldman Sachs. While the yield is not the highest, the convenience of integration into the iPhone's Wallet app is a major draw for customers. The success of the launch highlights Apple's ability to monetize its massive user base and underscores the challenges faced by regional banks.
- Apple reportedly attracted $1 billion in deposits into its new high-yield savings account in just 4 days Yahoo Finance
- Apple's high-yield savings account draws in nearly $1 billion deposits in first four days Daily Mail
- Massive amount of funds reportedly poured into Apple high-yield savings accounts upon rollout Fox Business
- Is the Apple Card Worth It? The Motley Fool
- Apple Card savings account has an attractive 4.15% interest rate, but beware of these pitfalls before signing MarketWatch
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