Tim Cook Touts ‘Incredible’ Response to Apple Card Savings Account on iPhone
Apple CEO Tim Cook this week said initial response to the new Apple Card Savings feature has been “incredible” following its launch last month.
Speaking on Apple’s quarterly earnings call, Cook said both the savings account and the new Apple Pay Later financing feature help customers to live a “healthier financial life,” adding that he is “very excited about the first days of both of them.”
Apple Card users can now open a high-yield savings account from Goldman Sachs and start earning interest on their Daily Cash cashback balance and other deposited money, with no fees or minimum balance requirement. The account currently offers a 4.15% APY, a rate Apple said was “more than 10 times the national average” as of late March. The account can be set up and completely managed in the Wallet app on the iPhone.
Forbes this week reported that around 240,000 Apple Card savings accounts were opened in the first week, citing sources familiar with the matter.
The U.S. Federal Reserve raised its benchmark interest rate by 0.25 percentage points on Wednesday, but the Apple Card savings account’s APY remains unchanged for now. It’s unclear if or when Goldman Sachs will increase the account’s APY in response to the rate hike, as many other banks offering high-yield savings accounts commonly do.
Apple’s credit card and the savings account are available in the U.S. only.
iOS 17 Coming Soon for iPhones and Rumored to Include These 8 New Features
Apple is expected to announce iOS 17 during its WWDC 2023 keynote on June 5, which is just over a month away. Ahead of time, rumors suggest the update will include at least eight new features and changes for iPhones, as outlined below.
The first iOS 17 beta should be made available to members of Apple’s Developer Program moments after the keynote, while a public beta will likely be available …
Apple Increases Trade-In Values for Select iPhones, iPads, and More
Apple today increased trade-in values for a limited number of older iPhone models in the United States in an effort to encourage customers to upgrade to the iPhone 14 lineup.
Trade-in values have gone up for the iPhone 13 Pro Max, iPhone 13 Pro, iPhone 12 Pro Max, iPhone 12 Pro, and iPhone 11 Pro, although older iPhone mini models have gone down in value. The latest trade-in values are…
EU Warns Apple About Limiting Speeds of Uncertified USB-C Cables for iPhones
Last year, the EU passed legislation that will require the iPhone and many other devices with wired charging to be equipped with a USB-C port in order to be sold in the region. Apple has until December 28, 2024 to adhere to the law, but the switch from Lightning to USB-C is expected to happen with iPhone 15 models later this year.
It was rumored in February that Apple may be planning to limit…
One Month Until WWDC 2023: Here’s What’s Coming
As of today, there’s just a month to go until the keynote event for Apple’s 2023 WWDC event, which is set to take place on Monday, June 5. WWDC 2023 is going to be exciting, because in addition to iOS 17 and the usual software updates, we’re also expecting to see Apple’s AR/VR headset.
We thought we’d do a quick rundown of everything that’s rumored now that we’re at the 31-day countdown…
Apple Releases New Firmware for AirPods Pro, AirPods, and AirPods Max
Apple today introduced new 5E135 firmware for the AirPods 2, the AirPods 3, the original AirPods Pro, the AirPods Pro 2, and the AirPods Max, up from the 5E133 firmware that was released in April.
Apple does not offer immediately available release notes on what’s included in refreshed firmware updates for the AirPods, but the company does maintain a support document with release…
15-Inch MacBook Air Stockpiled by Suppliers Ahead of Rumored WWDC Launch
Apple’s supply chain has started stockpiling the rumored 15-inch MacBook Air, according to industry sources cited by DigiTimes. The report says the laptop is expected to be announced at Apple’s annual developer conference WWDC, which begins June 5.
Despite the upcoming 15-inch MacBook Air launch, the sources believe that overall MacBook shipments will likely face a single-digit decrease in…
Apple Supplier Seemingly Confirms iPhone 15 Pro Solid-State Buttons Cancellation
In a shareholder letter today, Apple supplier Cirrus Logic seemingly confirmed that iPhone 15 Pro models will no longer feature solid-state buttons. “That said, among the HPMS opportunities we have discussed, a new product that we mentioned in previous shareholder letters as being scheduled for introduction this fall is no longer expected to come to market as planned,” the letter states. “As …
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