/biz/ - Business & Finance

[Anonymous No.54776548]

>is about to revolutionize the banking industry the same way it revolutionized the personal computer, portable music, and the mobile phone

Economic crisis averted.

[Anonymous No.54776624]

>>54776548
how?

[Anonymous No.54776641]

>>54776624
Apple bank accounts 4% i just connected to the noosphere and my ancestors used web browsers to transmit the info to me. I don't even look stuff up anymore, i Just know most of the time, David.

[Anonymous No.54776655]

>>54776624
Apple is now offering high-yield savings accounts.

https://ca.finance.yahoo.com/news/apple-is-sucking-people-in-deeper-with-its-savings-account-213043578.html

>Apple’s savings account, which is available to Apple Card holders and administered by Goldman Sachs (GS), is an especially tempting offering for customers thanks to its 4.15% annual yield. Apple says that’s more than 10 times the national average. In other words, you’re not going to get that kind of rate through your standard savings account.

[Anonymous No.54776723]

>>54776655
Checked
This won’t end well.

[Anonymous No.54776796]

>>54776723
Apple has the cash though, banks literally do not have a dime to their name as part of the rules, they have to invest every deposit and hold at least a $1500* minimum balance for all accounts. Who even withdraws cash nowadays so they only have a small amount of cash on hand and when they need more they just call fedcash, which is why banks fight tooth and nail to not have you withdraw. My bank had me withdraw in 3 separate events because they do not have that much cash.

[Anonymous No.54776822]

>>54776796
*the 1500 minimum balance is held hostage by banks as a signal that they have (number of depositers)x1500 in the vaults but its a lie. They do sweep accounts in which they take a pileof cash and transport it around, akin to nigers saving the same photo of cash to share on instantgram. They call it cash visibility

[Anonymous No.54776850]

>>54776548
what do you think they'll use the deposits for? you don't get 4.15% with 0 risk

[Anonymous No.54776943]

>>54776641
4.15% actually

[Anonymous No.54776959]

>>54776850
short term treasuries just like any other HYSA. as close to 0 risk as you can get

[Anonymous No.54776997]

There's nothing revolutionary about this.

>tech company has excess cash and tries to become a bank (like GE before it crashed)

[I have autism, please b patient No.54777020]

>>54776943
Kek do I need an apple account. Also how do I short the republic bank stonks?>>54776997
>GE was that Thomas Edisons company
Also Howard Hughes turned into a bank

[Anonymous No.54777046]

My bank does 5% right now? Whats different here or are Americans just being screwed?