Apple CEO Tim Cook said that the Apple Card Savings launch had been ‘incredible’ due to a high initial response from consumers.
During the quarterly earnings, Cook mentioned that the Apple Pay Later and savings account help customers ‘live a healthier financial life’, and that he was excited on the first days of the service launch. Forbes revealed that during the opening week of Savings Account, there were about 240,000 accounts opened.
Apple Card is backed by Goldman Sachs and allows Apple Card users to get Daily Cash and deposited money without any minimum requirement or fees. Currently, the financial service has a 4.15% APY rate, which is ‘more than ten times’ the national average as of the end of March, according to the Cupertino-based company. Both Apple Pay Later and Savings Account can be managed in the Wallet app.
Apple’s Savings Account and Apple Pay Later are currently only available in the US.
