Apple Card Savings Account Surpasses $10 Billion in Customer Deposits

Apple Card's high-yield savings account launched in April 2022 has exceeded $10 billion in deposits.
The account offers a 4.15% APY with no fees or minimum balance requirements.
of customers automatically deposit their Daily Cash rewards into savings.
Apple is focusing on financial services as a potential growth area amid slowing smartphone sales.
Goldman Sachs has expressed satisfaction but also faces rumors it may end its Apple Card partnership.