What is an Apple Card and Apple Savings Account

The Apple Card is a credit card issued by Apple Inc., which is designed to work with Apple Pay and is available to qualified users in the United States. The Apple Card is managed through the Wallet app on an iPhone, and it offers a number of unique features and benefits. These include cashback rewards on purchases made with the card, a simple and transparent fee structure with no annual or late fees, and the ability to manage the card and track spending directly from the Wallet app.

The Apple Card also includes features designed to improve security and privacy, such as the use of unique card numbers for each purchase made with the card, and the option to use a virtual card number for online purchases. The physical Apple Card is made of titanium and features a minimalist design with no visible card number, expiration date, or security code. Instead, users can access this information within the Wallet app on their iPhone.

What is an Apple Card?

What is an Apple Savings Account?

According to the article by Forbes, it appears that Apple has recently launched a savings account called "Apple Savings" in partnership with Goldman Sachs Bank USA. The account is said to offer a 4.15% annual return and other unique features, such as a built-in budgeting tool and the ability to access the account through the Wallet app on an iPhone.

The article reports that the new savings account has reportedly drawn nearly $1 billion in deposits within the first four days of its launch, and roughly 240,000 accounts had been opened, indicating strong interest from consumers. However, it is important to note that this information has not been officially confirmed by Apple or the bank, and it is possible that the actual deposit amounts may be different.

If you are interested in opening an account with Apple Savings, I would recommend researching the account's features, fees, and interest rate, and comparing it to other savings accounts available in the market. This can help you determine whether the account offers competitive terms and whether it is a good fit for your financial needs.

Additionally, it's important to consider factors such as customer service, ease of use, and security when evaluating any financial product, including a savings account. Apple has a reputation for offering user-friendly and secure products, but it's important to do your own research and read reviews from other customers before making a decision.

Ultimately, whether it's worth opening an account with Apple Savings will depend on your individual financial situation and preferences, as well as your assessment of the account's features and terms. It will be interesting to see how this new savings account offering from Apple develops in the future and how it will be received by consumers.

Should you be opening a savings account with Apple ?