Apple’s ongoing push into financial products and services, including its new high-yield Savings account with Goldman Sachs, could spell trouble for regional banks trying to retain deposits amid the banking system’s recent distress and rising interest rates. Apple Card users can easily set up and manage Savings directly in their Apple Card in Wallet. Lyle Niedens for Investopedia: Last month, Apple extended its foray into finance by launching a high-yield savings account allowing Apple Card users to store their daily cash rewards in a Goldman Sachs savings account offering an annual percentage rate of 4.15% — more than 10 times the national average. In recent weeks, some bank customers have grown skittish about depositing money in the U.S. banking system,…

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…

MacDailyNews presents live notes from Apple’s Q223 Conference Call with analysts starting at 2pm PDT / 5pm EDT today, May 4, 2023. This stream is best experienced on an iPhone 7 or later, iPad (5th generation or later), or iPod touch (7th generation) using Safari on iOS 12 or later; or a Mac using Safari on macOS Mojave 10.14 or later. Streaming to your TV requires an AirPlay 2–capable device, or via AirPlay to an Apple TV (2nd generation or later) with the latest Apple TV software or tvOS. Other platforms may also be able to access the stream using recent versions of Chrome, Firefox, or Microsoft Edge (MSE, H.264, and AAC required). Apple’s live conference call webcast will begin…

The Verge Making sense of Apple’s messy MagSafe charging ecosystem, where the first-party options are far from the best ones. Wireless charging is inefficient in many ways. It charges your phone more slowly than using a cable, uses more energy, and requires near-perfect alignment on a charging pad to even work. But inefficiencies aside, it’s just so dang convenient. So when Apple added a ring of magnets to the iPhone 12 and dubbed it “MagSafe,” things got much more interesting. Not only do the magnets guarantee perfect alignment every time but also, with a MagSafe-certified charger, your iPhone can charge at up to 15W — double the 7.5W they get with other wireless chargers. And the magnets also allow for…

Apple is partnering with Nike this month to give Apple Card users six percent Daily Cash back on purchases, up from the typical three percent cash back offer. The deal is available through the end of May, and customers can get the higher cash back percentage on up to $500 in goods. The additional cash back is available when using the ‌Apple Card‌ to make purchases from the Nike website, U.S. Nike stores, or the Nike app, and Apple Pay is required. A Nike customer who spends $500 with ‌Apple Pay‌ and the ‌Apple Card‌ will receive $30 in total, and after that, the Daily Cash back total drops back down to three percent. Customers who open a new ‌Apple…

Apple’s newly launched high yield Savings account brought in some $990 million in deposits over its first four days, Forbes reports this week citing “two sources familiar with the matter.” Apple Card users can easily set up and manage Savings directly in their Apple Card in Wallet. Matt Richardson for CBS News: In April, tech giant Apple announced the opening of a new savings account for users. The features – and interest rate – were instantly appealing. The account has a 4.15% annual percentage yield (APY) and no fees. It doesn’t have any minimum deposit or balance requirements, either, making it a smart place to protect and grow your savings. It’s easy to understand why it’s been a big hit.…