Thankfully they didn’t add a ”+” to an existing term.
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Apple Card Savings Account Available Starting Today With 4.15% Interest Rate
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For anybody thinking of opening a new account with Marcus, something to know is that Marcus has not been meeting Goldman Sachs' performance targets. As a result, Marcus is receiving less atttention and resources from senior management and even may be up for sale.
This has been the case over the last several quarters and continues today:
"Goldman is exploring strategic options for its consumer platform business, which has lost about $3 billion in three years, executives told investors in February.
[...]
Goldman reshuffled its businesses in 2022, leaning into its traditional mainstays of trading and investment banking, beefing up its asset management arm and stepping back from its consumer aspirations."
www.reuters.com
This has been the case over the last several quarters and continues today:
"Goldman is exploring strategic options for its consumer platform business, which has lost about $3 billion in three years, executives told investors in February.
[...]
Goldman reshuffled its businesses in 2022, leaning into its traditional mainstays of trading and investment banking, beefing up its asset management arm and stepping back from its consumer aspirations."
Goldman Sachs profit falls on sluggish deals and bond trading, Marcus loss
Goldman Sachs Group Inc's profit fell 19% as dealmaking and bond trading slumped in the first quarter and it lost money on the sale of some assets in its consumer business.
If you're not seeing the option to launch the savings account, update ios. I just did and it works.
Yeah, that's a real issue for me. I use Quicken for all our accounts. There must be some sort of privacy or cost issue that Quicken and Apple can't come to an agreement on. At least I can import the monthly statement in though.
Maybe Apple will buy them out! 😜😜For anybody thinking of opening a new account with Marcus, something to know is that Marcus has not been meeting Goldman Sachs' performance targets. As a result, Marcus is receiving less atttention and resources from senior management and even may be up for sale.
This has been the case over the last several quarters and continues today:
"Goldman is exploring strategic options for its consumer platform business, which has lost about $3 billion in three years, executives told investors in February.
[...]
Goldman reshuffled its businesses in 2022, leaning into its traditional mainstays of trading and investment banking, beefing up its asset management arm and stepping back from its consumer aspirations."
Goldman Sachs profit falls on sluggish deals and bond trading, Marcus loss
Goldman Sachs Group Inc's profit fell 19% as dealmaking and bond trading slumped in the first quarter and it lost money on the sale of some assets in its consumer business.
Thanks) I set mine up yesterday, it just wasn't yet available at the time the post was made
Apple certainly could with its massive financial resources...but given how deeply secrecy and compartmentalization are embedded in Apple's corporate DNA coupled with the extensive disclosures mandated by banking regulators, it seems unlikely. Plus the asset reserves required–potentially to become even larger in the near future, due to the failures of Silicon Valley Bank and Signature Bank–would essentially become non-productive for Apple because cash committed to reserves is cash that is unavailable for any other purpose.
Of course, now I can't seem to get rid of the red notification on Settings. Clicking on "Family Purchase Sharing Update" it seems to be insisting (with no other option to cancel) that I allow sharing this savings account within the Family Sharing. Not gonna happen.
Yeah. I'm annoyed by this as well. Why can't we just say no thanks and get rid of the stupid nagging red dot. C'mon Apple.
This morning, it finally showed up as an active account. So I guess all's well now.
Anyone else with a joint account where their spouse is the primary name having issues transferring funds to the new savings account?
Just manual entries in Quicken when moving $ there, then reconcile the auto deposits and interest accrued at end of month
Always can export on the 1st and import to Quicken I suppose
They are definitely getting slammed.
Yesterday, I initiated iMessage chat with a GS specialist. At that point, it indicated the wait time is 9hours and 50minutes.
Well, just a few moments ago I noticed that they had checked in and since I wasn't responding they left. So I wrote again and this time they say wait time is 6 hours.
My simple question to them is: will there be web access at some point to the Savings Account because right now it is only accessible on iPhone and iPad. It is not accessible on Mac and not from the web either.
I know it is possible they may not know. But I still want them to say they don't know if that's the case
I added my Apple Savings to two other banks yesterday using the routing and account number. I had to confirm 2 small deposits for each account, which showed up today in my Apple Savings account. As such I can initiate transactions from my other bank accounts now. Including one which Apple Savings refuses to allow transactions to/from.
And now all of a sudden they do want to move it? Nah. I’m going with the they weren’t aware it existed.
I, for one, knew about high interest savings accounts. But I wasn't willing to move my money to some bank that I wasn't otherwise doing business with, simply to make a few dollars a year. Not even remotely close to clearing the bar of inconvenience.
The Apple savings account? Very convenient. I would be using it even if it didn't pay ANY interest.
I had almost $4K just sitting on my Apple Cash card. Now it is just sitting in the Apple Savings account.
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Someone earlier in the thread said it was unlimited via a support agent. Unsure how correct this is.
I've known about high yield savings accounts for years as have most of the people I know. I have never wanted to move my savings to American Express, Discover ETC. I felt comfortable with my savings side by side with my checking for easy access to move money back and forth freely when needed. Yes I was getting horrible interest(.02%) but it was easy and more comfortable. Having an Apple card and using Apple pay for years now I felt comfortable moving my savings over. All that plus interest rates going up and my savings now being significate enough to bring in more interest help me make the move.
I've researched for many years never making the move to higher interest savings accounts.
So yes I "all of the sudden" want to move my savings. I feel there are others in this same situation.
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