Apple Card’s 4.15% APY Savings account

Savings accounts are provided by Goldman Sachs Bank USA, Salt Lake City Branch

I feel like Goldman Sachs may be trying to increase its deposit levels through this Apple savings account to avoid being caught in a banking sector collapse.

How can it be? They were sitting on billions of dollars of cash reserves.. now they are asking for money.. //@anonymous: Good idea and smart move from apple.

Tech companies losing money in stocks, unable to increase sales because of inflation are now dipping in people’s savings to generate capital..

Good idea and smart move from apple.

. . . Except this is not a loan. Credit scores have nothing to do with it.

The point is that GE got into finance with a pure tech background, which is what is comparable to Apple now. Apple Card barely checks credit scores and had caused tones of loss for Goldman. Essentially, Apple is doing subprime for consumer lending. //@anonymous: GE entered subprime, its a different story //@anonymous: Wow, whenever these big tech companies rush into finance/banking business, there is a deep financial crisis cooking. Think about GE in 2008…

learning it from Alibaba

If you still trust a financial institution pivoting into tech, or a tech company pivoting into finance, after all the chaos of Robinhood, FTX, SVB, etc. Then good luck!

Thanks for this tip //@anonymous: wealthfront pays more and super easy to use :)

GE entered subprime, its a different story //@anonymous: Wow, whenever these big tech companies rush into finance/banking business, there is a deep financial crisis cooking. Think about GE in 2008…

waiting for amazon to start a savings account.

wealthfront pays more and super easy to use :)

Wow, whenever these big tech companies rush into finance/banking business, there is a deep financial crisis cooking. Think about GE in 2008…

Will it issue 1099-INT ?

Can you access it from windows?

yes, easy deposit from checking acct //@Anonymous: Can one deposit into this savings account too? or is it just for earned credits from credit card?

You can make straight deposits into the account, treat it like a traditional savings account! //@Anonymous: Can one deposit into this savings account too? or is it just for earned credits from credit card?

LOL, rewards only //@Anonymous: Can one deposit into this savings account too? or is it just for earned credits from credit card?

What is Apple Card? Does it Need to apply "Apple Card" first for creating the high APY account?

can I have the account without an iphone?

too late, american saving rate goes down below 3%, inflation hit over 9%, economically, its better to spend over saving. especially, uncle sam will take portion of the interest income.

Can one deposit into this savings account too? or is it just for earned credits from credit card?