Apple Banking- Genius

[Technerd108]

People Put Nearly $1 Billion Into Apple Savings Accounts in First 4 Days

Apple’s new Savings account opened in mid-April with a 4.15% yield, and it's already drawn 240,000 new accounts from among 2 billion iPhone users.

gizmodo.com

Apple may have it's problems with sales of laptops. A lot say iOS releases are less stable than in the past and share of other problems but getting into the banking industry is pure genius.

They already have a huge market with Apple Pay. Why not offer a savings account linked to Apple.

I may have my criticisms of Apple despite my love for a lot of their products and software but this is a really smart move.

 

[Abazigal]

I really wish they would bring this to more countries. A lot of their finance-related services seem limited to the US, where I assume they have more influence and are therefore able to negotiate more favourable terms with their partners. Apple presumably loses a lot of their bargaining power when attempting to enter the markets of other countries where iPhones are not as common.

 

[Weaselboy]

Moderator Note:

Please continue the discussion in the news thread:

https://forums.macrumors.com/threads/nearly-1-billion-deposited-by-apple-card-owners-four-days-after-savings-account-launch.2388360/