Apple launches Savings, the deposit account with a 4.15% yield – Corriere.it
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Here comes Apple Savings, an Apple-branded deposit account with a 4.15% annual return. For now, however, only for US customers in possession of the Apple Card. In fact, the tech giant has launched its account within the US borders that does not require any deposit or minimum balance and users can create an account from the Wallet app on their iPhones. The intention to arrive also in Europe.
How Apple Savings works
But how does it work? Once the user has created a deposit account, all daily money earned from that moment on is automatically deposited there. In addition, you can decide to merge the Daily Cash rewards into Savings, i.e. the cashback of up to 3% that Apple Card has guaranteed since the launch of its credit card. Users can manage their savings account through a dashboard that appears in the Wallet app, where they can track their interests and account balance or withdraw funds. What is very interesting that there are no commissions, minimum deposits or balance requirements for the created account. Therefore, a minimum deposit is not required and there is no constraint for users, who can open their account directly from their iPhone Wallet, as Apple explained in a statement.
In March, the announcement of the launch of Apple Pay Later
The announcement of the launch of Apple Savings comes just a few weeks after the one announcing the introduction (also in this one for now only in the United States) of Apple Pay Later, a buy now, pay later service integrated into Apple Pay. In practice, users are allowed to divide payments for purchases into four installments, spread over six weeks, without interest and without commissions. As with Apple Svings, users can monitor, manage and repay their loans directly on Apple’s Wallet. The deferred payments concern amounts ranging from 50 to a thousand dollars, both for online purchases, on apps and in physical stores where it is possible to pay with Apple Pay. Also in this case, the intention to land soon in Europe and, therefore, also in Italy.
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