Apple Card holders have deposited more than $10 billion in Apple Card Savings accounts that are provided by Goldman Sachs, Apple announced today.
The Savings accounts first launched in April, so that milestone comes at the four month mark. Apple says that 97 percent of Savings customers have opted into having their Apple Card Daily Cash automatically deposited into the account, which offers a 4.15 APY.
“With each of the financial products we’ve introduced, we’ve sought to reinvent the category with our users’ financial health in mind. That was our goal with the launch of Apple Card four years ago, and it remained our guiding principle with the launch of Savings,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. “With no fees, no minimum deposits, and no minimum balance requirements, Savings provides an easy way for users to save money every day, and we’re thrilled to see the excellent reception from customers both new and existing.”
In a statement, Goldman Sachs Head of Enterprise Partnerships said that the company is “very pleased” with the Savings account success.
Apple Card continues to be limited to iPhone users in the United States, which means the Apple Savings account is only available in the U.S. Apple’s announcement comes amid reports that its relationship with Goldman Sachs is on the rocks. Goldman Sachs is allegedly looking to get out of its partnership with Apple as it aims to exit the consumer banking business.
Popular Stories
iPhone 15 Pro Rumor Recap: 12 New Features and Changes Expected
Apple is expected to unveil the iPhone 15 lineup in September. As usual, many new features have been rumored for the Pro and Pro Max models, including a USB-C port, A17 Bionic chip, titanium frame, Action button, and more. Below, we have recapped 12 new features and changes rumored for the iPhone 15 Pro models. A17 Bionic chip: iPhone 15 Pro models are expected to be equipped with Apple’s …
Apple Releases Second Public Betas of iOS 17 and iPadOS 17, Revised Developer Beta
Apple today seeded the second betas of iOS 17 and iPadOS 17 to public beta testers, allowing non-developers to test the software ahead of its launch. The second beta comes a little over two weeks after the first beta. The second public beta features the same content that’s in the fourth developer beta released last week, although Apple has also seeded a revised version of that developer beta…
Top Stories: iPhone 15 Pro Rumors, iOS 17 Beta 4, Vision Pro Developer Kit, and More
The next iPhone launch is rapidly approaching, and rumors are continuing to fly about what to expect for the next-generation models. Plus, we’re expecting some fresh Mac updates not too long after that. This week also saw the fourth betas of iOS 17 and related operating system updates as Apple works toward an official release alongside the new iPhones in September, while developers will soon …
iPhone 15 Pro Said to Be Easier to Repair Like iPhone 14 and 14 Plus
Following in the footsteps of the iPhone 14 and iPhone 14 Plus, the upcoming iPhone 15 Pro and iPhone 15 Pro Max will have a redesigned chassis that makes the devices “easier to repair,” according to Bloomberg’s Mark Gurman. This change could result in the iPhone 15 Pro models having removable back glass. With the chassis redesign, the iPhone 14 and iPhone 14 Plus became the first iPhone…