How did you transfer existing Apple Cash into the savings account? When I tried, my only options were to transfer from outside bank accounts.
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Nearly $1 Billion Deposited by Apple Card Owners Four Days After Savings Account Launch
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In general, people having this problem haven't verified their identity with Apple Cash.
Verify your identity for Apple Card or Apple Cash - Apple Support
To protect your account, you might be asked to verify your identity when using Apple Cash or applying for Apple Card.
According to PNC
“PNC product and feature availability varies by location.”
So depending on where a particular customer is PNC beats Apple.
Wow - within 90 seconds I had opened an account, and initiated a transfer from my Chase account (which was already in the Apple Wallet.)
FAST and EASY.
Chase offers a pittance in interest - something like 0.01% !)
FAST and EASY.
Chase offers a pittance in interest - something like 0.01% !)
I made the same move. I've been putting more in from other sources as the days have passed.
It's funny to see people who have 47 separate accounts across 20 countries flood the thread with their advice as if we're making a fatal mistake by getting 4.15% ("OMG it might change!") with a frictionless process of opening and maintaining an account ("you should lock up your money in CDs or T-bills"),
I found an Early Saver account at BECreditUnion. One can earn great interest rates: 6.17% APY on the first $500. Balances $500.01 and above receive a rate of 0.50% APY.
With headlines like this Apple is only attracting more thieves to the iPhone population, while doing nothing to protect users once someone unauthorized gains access to the iPhone's PIN. I am not planning to deposit a single dollar except what I earn thru cash back and rethinking my smartphone security strategy going forward.
Folks who have 250k sitting on their savings in the multiple places, and which can be translated as it is paying off their 50% or more for their monthly mortgage payments. This is insane
That is a very good point. With the Fed jacking up rates, the stock market plummeting may be obliterating everyone's lifetimes of savings, their critical retirement savings, 401Ks, pensions, and IRAs, but if you mortgaged your house when rates were low, and you've got big savings, you could essentially be getting a free house now. However, I imagine relatively few people are able to save that much money, and even fewer now that people are running up credit card debt just for essentials.
The more I think about it, the more I agree. It is insane. Imagine being wealthy enough to get a multi-million dollar house for near zero rate mortgage. What did they get down to? Less than 3% right? So now even an Apple Savings account is paying over 4% or an I-Bond is paying 6.89%. So if you're at that level of wealth, you have a sure thing, no risk, no reason to invest in businesses, just spread those savings around using whatever loopholes you need to jump through, but get a guaranteed high yield that covers your mortgage, taxes, plus get a slight return on top of all. For the fortunate who got the timing right, it essentially translates to free multi-million dollar homes, vacation lodges, beach condos, AirBNBs, rental or other investment properties.
That is fun to imagine! Let me go check how close I am to that dream, how much interest I earned... $0.08. Well on my way. Woot!
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