On Monday, Apple in partnership with Goldman Sachs, announced New highly rental savings record for Apple cards. You may be interested in what it means.
Simply put, now you can place your daily monetary rewards – the name Apple for small amounts of cashback that you receive for use by Apple Card – 4.15%to an annual interest expense (APY).
This is a much higher rate than the one you receive in order to save money on a regular savings account in a traditional bank. As a comparison, Bank of America gives you a miserable 0.01% APY. However, be careful: Apple said that her APY can change at any time.
More importantly, Apple will also allow you to add money to this highly profitable savings account directly from the existing bank account, which means that you can simply lose thousands of dollars there (up to $ 250,000) and see a serious profit. (If you decide to place a huge part of the changes in Apple's savings account, I would like to hear from you; write to me at [email protected].)
This step is the last to promote Apple in financial services. Last month, Apple added the “Buy now, Pay later” service at Apple Card, which allows you to pay for purchases for six weeks without interest. This function puts a technical giant in competition with companies such as Klarna and Affirm.
“Our goal is to create tools that help users lead a healthier financial life, and the creation of savings in Apple Card in the wallet allows them to spend, send and save daily money directly and smoothly – all from one place,” said Jennifer Bayly, Vice -President of Apple Pay and Apple Wallet.
This function is currently available only in the USA. It is important to note that Apple Apy Isn't the most affordableThe field but if you already have daily cash from using the Apple card, insert it into a savings account available directly from the wallet application on your iPhone, is not easy.
