People Put Nearly $1 Billion Into Apple Savings Accounts in First 4 Days
Apple has learned from enough games of Monopoly that it's good to be the banker as well as a player. From a report: A Monday report from Forbes based on anonymous internal sources claims users deposited close to $1 billion in just four days after Apple introduced its new Goldman Sachs-backed Apple Card savings account. While the company had previously seen success with its mobile payments platform, the new savings account is already doing gangbusters. After the Cupertino tech giant launched its new high yield savings account last month, the company saw $990 million in deposits in less than a week, per Forbes' sources. In that time, 240,000 accounts signed up for the service. New savings accounts cannot exceed $250,000 per the Federal Deposit Insurance Corporation's insurance limits. If the Forbes reporting is true, then users are depositing several thousand dollars into their new accounts, on average.
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