In this historical phase, deposit accounts appear more interesting, and so savers rummage through the news in search of the most convenient account. If you are among them, surely you will not have missed that Apple decided to launch his own deposit account.
Exactly, we are talking about an Apple deposit account, in collaboration with Goldman Sachs. The annual return would be 4.15%.
But can it be stipulated? Is it worth it? For now, this product is only available in the United States and for customers residing in America, and is characterized by its similarity to a current account, but designed for saving money rather than for its use in everyday life.
It is available with the Apple Card, i.e. the big tech credit card Cuperino,.
The account does not require a minimum deposit, and you will also be protected by the Federal Deposit Insurance Corporation (Fdic), which is the same entity that saved the deposits of Svb.
This article talks about:
The characteristics of the account
We have already seen some features of this tool, but let’s go deeper: let’s start from the fact that the Maximum account balance is $250,000.
The money cannot be spent directly from the Apple account, as it is a savings account, but must first be transferred to an actual checking account or to Apple Cash.
Il tasso by 4.15%, however, it is higher than that of a standard savings account and the main American competitors, namely Ally Bank and Marcus (Goldman’s proprietary account), which offer rates of 3.75% and 3.9%.
The strengths of the Apple brand
Analysts seem very optimistic about the possibilities of this new account, thanks to the reputation of the brand added to the advantageous yield.
Let’s not forget that the bankruptcy of Svb and Signature Bank has made savers less confident in traditional institutions. Indeed, the growing flight from traditional big banks is evident.
Suffice it to say that US financial giants such as Charles Schwab, State Street and M&T suffered a $60 billion outflow from deposits in the first quarter (Financial Times data).
Is the Apple account worth it?
Unfortunately we cannot say, also because as EU citizens we still don’t have the effective possibility of opening it.
We will update this article as soon as we have news and above all we will let you know if it will be available for us too. If in the meantime you are looking for the best deposit account, I leave you the dedicated guide.
If, on the other hand, you are also thinking of other alternatives to make your savings pay off, here are some guides for investing:
See you soon!