The savings account is an additional offer for customers who already have an Apple credit card.
(Photo: Reuters)
Frankfort, New York Apple stirs up the US financial market. The technology company is launching a high-yield savings account with investment bank Goldman Sachs that offers Apple Card users 4.15 percent annual interest – more than ten times the US average.
The Apple offer increases the pressure on banks and fintechs to follow suit with similar offers. Here are the most important questions and answers on the subject.
What makes the Apple account so special?
The savings account, which has so far only been available in the USA, is an additional offer for all those customers who already have an Apple credit card. Apple has been issuing a credit card together with Goldman Sachs and Mastercard since 2019, making it the first technology company to cooperate closely with financial institutions. In October, the companies had already announced that there should also be a savings account.
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