As regional banks in the United States are in crisis, Apple's high-yield savings account has become a safe haven for many people!
The high-yield deposit account launched by Apple in partnership with Goldman Sachs pushed the interest rate up to 4.15% on April 17, bringing in $990 million in deposits in the first four days of its launch; the savings account attracted nearly $400 million in deposits on the day of its launch alone.
A week after the rate was released, users had already opened about 240,000 accounts. In addition to the high yield, the account has no minimum balance and can be accessed at any time, just like a demand deposit. As long as the deposit amount is within $250,000, the deposit is also insured by the FDIC. However, it is worth noting that the funds in Apple's high-yield savings account cannot exceed $250,000, which is also the FDIC deposit insurance limit.
The new savings account is only available to holders of AppleCard, the online banking credit card issued by Apple in partnership with Goldman Sachs. Customers can open a savings account directly from their iPhone in less than a minute. AppleCard spending rewards will also be automatically deposited into the high-yield account.
Apple's cross-bank robbery is somewhat similar to the launch of Yu'ebao in 2013. Maybe it's not your opponent who defeats you, but other fields! Yu'ebao forced domestic banks to make many changes! The birth and launch of Apple's high-savings bank is simply a revolution for American banks, especially the traditional American financial giants who have been making money for more than 200 years!
Due to the extremely high popularity of Apple mobile phones, the subsequent reserve will grow explosively. Don’t be surprised if it breaks through 100 billion/300 billion/500 billion in half a year or a year. By then, with Apple owning such a strong terminal and cash flow, it will not be a problem for the market value to double!
Don’t forget that the Apple system has pre-installed the BTC white paper and currently supports BTC deposits, withdrawals and transactions! For the next bull market, we can only say that Apple has brought a lot of water to the circle!
Here we can look forward to it. I thought that Apple's high reserve was very attractive, but I didn't expect it to be so strong! Let us follow the pace of the times, strive for this bull market, and reap the dividends of the times together!