Apple’s new high-yield savings account attracted almost $1 billion in deposits during its first four days, with almost $400 million of those deposits made on launch day alone. The account’s annual return of 4.15% and the popularity of iPhones are the primary reasons for account openings, given that most banks pay less than 0.5%. The savings account, offered in partnership with Goldman Sachs Bank USA, attracted around 240,000 new accounts during launch week.
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Article Name
Apple's New Savings Account Attracts Nearly $1 Billion in First Four Days
Description
Apple's new high-yield savings account attracted almost $1 billion in deposits during its first four days, with almost $400 million of those deposits made on launch day alone.
Author
Susan Jane
Publisher Name
Forbes
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