An Apple branded savings account is just a savings account. The only reason I have a bank savings account is for the discount on our safe deposit box, and free services like counting our coins, cashing checks from Facebook, Honda and other settlements, and notary public service. I fail to see how that would be implemented by an Apple online savings account.
What is YOUR savings account rate?
Our savings rate is 0.1%. But if it was 4.15% like Apple Savings, we'd stand to make an extra $9-10 a year. We keep only token money there to take advantages of the services previously mentioned. The rest of our cash is in money market funds, which currently offer more than 4.15%, and offer free checking, both online and hardcopy. As an Apple shareholder, I use every product Apple makes, if I can justify it financially or for entertainment. This savings account does neither for me.
To each his own. Which money market fund? Most are not that much higher than 4.15 as I use them too. And they are not FDIC insured that met will share the SIPC brokerage insurance with your stock holdings.
also the ease of deposit and withdraw with the Apple Walley is simply unmatched
I have a Fidelity Govt. Cash reserves money market acct. As of this writing its current 7 day yield is 4.51%. I also have an Ally Bank money market (FDIC insured) that is currently yielding 4.0%. Both offer checking, 24/7 online deposit and withdrawal, debit cards (that offer free transactions at any MC or Visa ATM) and wire transfers. I've never had any issues with deposit or withdrawals. I use the Apple Wallet, Apple Pay, and have the Apple card (love to impress waitresses using that titanium credit card, and get 2% for doing it!). So I have no bias against Apple Savings, but I have no use for it. And as I'm sure you are aware, that 4.15% is subject to change, and probably will by the time you first use the account.
I thought you only got 1% cash back when using the physical card?
But he has to impress the waitresses! What would all those waitress do if he didn't show up with his titanium card? Think how dull and hollow their lives would be without the privilege of picking up his titanium card and swiping it! Won't somebody thing about the waitresses!
Well, so what if I may be shallow, dumb, bald and middle class. Not everyone can be the Dalai Lama, Albert Einstein, Chris Hemsworth, or Warren Buffett. I'm sure if I met you I'd be humbled and ashamed of my lack of accomplishments. So please cut me some slack if I can show off for a waitress, and throw a few extra bucks into her tip. How else am I gonna get her home with all I lack?
I see the problem here. You are confusing restaurant workers with sex workers. Both are respectable professions but they provide very different services. The latter is the one provides companionship for money.
Or you could give up the blatant sexism, just thinking out loud.
re your "thinking out loud,"As Mark Twain said, "Better to remain silent and be thought a fool than speak and remove all doubt."
Whew, a man has been kind enough to set me straight! What would we women do without you!
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