Apple received $1 billion in deposits within a week of the savings account launch
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Apple’s new savings account collected $1 billion in cash within 4 days of its launch. Forbes writes about it.
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The long-awaited Apple Card savings account from Goldman Sachs was launched in mid-April with a yield of 4.15% per annum, which is more than 10 times higher than the national average, according to the FDIC.
According to Forbes, in less than a week the tech giant collected $990 million in deposits. During this time, 240 thousand accounts signed up for the service.
For regular users of Apple, a savings account is not only a profitable income in the market, but also a reliable place in the event of rising interest rates and bank failures.
Read: Why Apple and Goldman Sachs are creating a neobank in the midst of a bankruptcy
Let’s remind
At the end of March, it became known about the launch of the Apple Pay Later service, thanks to which the company’s clients can pay for brand goods worth up to $1 thousand. within six weeks in four installments.
Now Apple Card users can open high-yield savings accounts at a much higher interest rate than in a number of classic banks.
This project was implemented in partnership with one of the largest investment companies in the world, Goldman Sachs.
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Source: Ministry of Finance
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