Apple Launches High Yield Savings

Apple DOES NOT want to be a bank. They want to create great consumer experiences and a $0 fee proposition for consumers

Apple and Goldman Sachs announced the forthcoming launch of high yield deposit account focused on increasing the value of Apple Card’s Daily Cash rewards. Operating as a kind of rewards sweep account, customers that register for the new account will have “their Daily Cash [move] into a new high-yield Savings account from Goldman Sachs”. 

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