Awesome Tips Apple Savings Account May Bite Into Big Banks
As Apple launches a new savings account for Apple Card holders, we look at the company’s growing financial products and the state of Apple Pay today. Big banks may have reasons to be worried about Apple’s finance moves — but Apple hasn’t conquered the wallet just yet.
As Apple launches a new savings account for Apple Card holders, we look at the company’s growing financial products and the state of Apple Pay today. Big banks may have reasons to be worried about Apple’s finance moves — but Apple hasn’t conquered the wallet just yet.
0:00 Apple Announces Savings Accounts
1:29 Apple Pay’s Growing Pains
3:32 Banks Aren’t Big Fans of Apple Pay
4:07 How Apple Savings Accounts Work
5:10 Making Apple Card More Appealing
6:27 Apple Pay Later Joins the Team
7:13 Apple Pay Still Has Some Kinks
Read the CNET article:
Is Apple’s High-Yield Savings Account Worth It? See How It Compares
Subscribe to CNET:
Never miss a deal again! See CNET’s browser extension 👉
Follow us on TikTok:
Follow us on Instagram:
Follow us on Twitter:
Like us on Facebook:
#apple #applenews #applecard
Deals for Days. Big home savings are happening now.
Apple Pay at the counter is just convenient and fast. Period.
So unless there is something faster than that, it’s here to stay.
Good progress to simplify payments. In India, we have been using mobile wallets for more than 10 years. It’s backed by India’s central bank (RBI), the tech ecosystem is called UPI (unified payment interface) to settle inter-bank transactions which is developed by government unit – NPCI (National Payment Corporation of India). Transfer from one bank to any other bank for retail or personal transactions happens literally in seconds. One of its kind in the world. Also, NPCI is backbone for India’s CBDC – central bank digital currency. Per day mobile transactions in India is $260mn , Mar’23.
I had no idea. I have been getting robbed by Robinhood this whole time thinking that was an amazing return😅. I figured the economy was in a down turn and the 4.4 APY Robinhood was offering was a Win, but the $5 fee they charge every month is not. Thanks for this video. Definitely switching my money over.
Is apple a hit in the USA
Well it's non custodial always risk of confiscated by 2 bit hack governments. There's lot going on out side of banking world. & Feds are up chasing & trying make web3 look bad. Due to self custody nature. US printing unlimited money & manipulating intrest rate & crashing Bitcoin.
Don't fall for Banks. They are done looting people!!!
Her Eyes… 💙
I just want a Checking Account from Apple I love the interface with the Apple Credit Card!! It’s
User friendly and 10 times better than all those other banks apps combine!!Now imagine if they had checkings account with that sweet IOS user interface!
Fednow is coming !!! Soon
Love Apple Pay, you would struggle to find a merchant that doesn’t support it in Australia it is creamy to hear that Walmart doesn’t accept it
Paze will fail miserably, too local. apple pay isn’t just in the US it’s global, you can use apple pay seamlessly in other countries that accept apple pay, you can’t do it with any of those apps like Walmart pay or Paze.
Just added some money into my Apple Pay yesterday. Experience is 9/10.
Chill with these thumbnails
Great idea! Big banks have been predatory for years! I have made attempts to use them but last century profit driven mindset is no bueno!
Current app , upgrade app and other apps and banks are basically offering bigger apt savings while these huge banks are basically getting destroyed and are about to go bankrupt if they can't do anything about it
It's funny and hilarious how apple wants to destroy and go beyond banks but they can't help people not get scammed through apple pay and they refuse to help but you guys want to kill banks by offering more discounts and rewards hahaha this is exactly why I left apple
Feel how you feel about this, but Apple was pretty clever to slowly roll out Apple Pay and have it include a credit card and a savings account.
Is it the fault of the card issuers that the card cannot be added to Apple wallet at all?
Even though I can’t have or use AppleCard because I live in Europe I am avid ApplePay user anyway. At least 75% of my payments are ApplePay payments and I would be strongly considering using Card too as a main card.
Apple pay maybe a bit convienient. Wow 700 million dollars from Apply pay commissions. That's no value add to consumers, and apple stealing the money.
Does this lady know that Apple Card and Apple Savings Acct is only made possible by a bank…? In other words, it’s a bank acct with an Apple logo. Not that groundbreaking
Love my Apple card, the no interest is cheaper than cash in the current economy when buying Apple products. Signed up for the savings account and moved some funds over the morning it went live.
I’ve been using the Apple Credit Card since it was first launched in 2019. I did it initially to get the metal card. Since then I’ve used it as my main credit card for the rewards in Apple Cash used as my budget for apps and app upgrades. It’s been reliable since day one. With most online retailers implementing Apple Pay as an option I get the 2% cash back instead of 1% standard.
paypal saving is also matching that 4.15 APY as of 4/21/23. backed by synchrony bank and also FDIC insured.
Yoooo, man I like how she is reporting more than the news itself 😅
I can't wait for them to have a checkless checking account.
I only use Apple Pay for everything. If a store or food place does not take it I don't give them my business. Luckily everyplace I go to takes it but Wallmart. I rarely go there now cause of it and Target gets 99 percent of my business over Walmart now cause they take Apple Pay.
Honestly I wouldn't be surprised if in future generations these banks fall because many people in Gen Z use Apple Pay or carry cash. Well, at least people I know. We're certainly not as dumb as the banks think, far more money conscious than previous generations beforehand who had stuff easy-going for them. Of course everyone likely have cards from a bank, by their parents or themselves, but I think their bank selection ultimately will depend on whether or not that bank supports Apple Pay. Also, harder to hack into an iPhone than for robbers to get your card and tap-to-pay automatically. Cuz someone can grab your phone away, but they'll need a passcode at best to get in. And I believe there's an easy way to disable/change your passcode from your mac/computer if you really think someone ran off with your iPhone knowing your passcode. If you ask me, that's more reassuring than getting on-call with a bank. Or if things get really bad, you should be able to ring up Apple or Chase in this case. But then again, I never had either of those unfortunate cases happen to me, so I can't really speak on that.
Just waiting for something in canada…
not to be confused with applebank
I have the Apple card but I don't use it as much, I mostly use my rewards miles card. But the savings account does sound tempting. I may wait to see what bugs people encounter.
I have had the Apple Card for quite some time. Of course, I signed up for the Apple Savings account, the day that it launched.
IMHO, there are no finer financial products out there.
Why?
It's the software. Everything is so easy to use. Transferring money. The fact that my Apple Pay Cash can (it doesn't have to) go right into my high yield savings account. Etc…
I still believe in having more than one bank account for funds. But, in my own suite, Apple's savings is the highest. Most of my money will eventually be in there, with a little bit in other accounts.
I am really excited for how their financial products continue to grow.
I would love to see them get into assets, crypto, etc…