chutzpah

JP234 said:

Madbum said:

JP234 said:

Madtiger said:

JP234 said:

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.

BiC said:

The Tags will increase Divorce rates and Violence - Lawyer's dreams- I know first hand because of my wife.  You don't have that much time when you're a thief - what are going to do pop the hood and use a flash light!  Worst invention to Mankind.  I've said it before I have to take the bus when she's at work or leave my car at work than get picked up.  It pisses me off...

Xed said:

Stabitha_Christie said:

Xed said:

JP234 said:

Xed said:

Stabitha_Christie said:

JP234 said:

"Like the Apple Card, the Savings account will be provided by Goldman Sachs."

Does the Goldman Sachs involvement mean that the account will be FDIC insured? And just what does "high yield" mean to you? To me it's a meaningless expression. Could be anything, since there's no quantitive benchmark.

Currently, G-S savings account (called Marcus for some reason) has an APY of 3.75. Fidelity's Gov't, Money Market currently yields 4.51%. Not FDIC insured, but it's all government bonds with maturities of 90 days or less, and virtually no Money Market funds have "broken the buck," and BTW you can write checks with it.

There are several banks offering high yield savings accounts that get 5%. 

Please post links to these FDIC insured accounts there are at 5%.

You don't need someone to do that for you. I found 6 on my own in less than 30 seconds.

I've found none that didn't come with some very severe caveats. I've found none that were like Marcus. So, please, what 6 did you find?

But you found them, right?

Yes, many of them have minimum deposits. Some of them have other restrictions. 

I didn't say there were 5% interest savings accounts with no restrictions, I didn't say there were 5% savings accounts that meet your exact needs. What I said was there were several banks offering 5% savings accounts and you know what? There are ... and it seems you found them. 

This reminds me of when the Apple Card was announced and people using the same rational as you and JP234 were saying how much 2% back sucked when there are cards with more back, but you'd be referring to cards with annual fees and for select types of purchases. Details matter.

You may as well claim that the MacBook Pro is an overpriced piece of shit when there are laptops for $400 with 1TB of storage in them, even if that's a shitty laptop with an HDD and not an SSD. Details matter.

chasm said:

lewchenko said:

Still waiting for any form of Apple Card or financial product in the UK. Given up hope. 

Believe me, Apple would love nothing better than for Apple Card to be available in the UK, Canada, and throughout the EU — at the very least.

The problem is the bank conglomerates. They hate giving up a (tiny) portion of THEIR fee to give to Apple, and Apple isn’t budging on not charging the consumer for this.

Australia tried this and failed, and now Apple Card is huge there, as it is in the US. So if you’re in a country where you don’t have access to the Apple Card, now you know why.