You can now save up to $1 million in your Apple Card Savings Account
Goldman Sachs has contacted Apple Card owners to inform them that the bank has now raised savings account limits to $1 million, up from the previous $250,000.
Goldman Sachs has contacted Apple Card owners to inform them that the bank has now raised savings account limits to $1 million, up from the previous $250,000.
Chase could be the best partner for Apple Card, a report proposes, with previous history between the bank and the iPhone maker seemingly making it the best possible successor to Goldman Sachs for Apple's credit-based service.
Goldman Sachs and Apple seem likely to part ways by early 2025, but a vague statement from Apple provides little reassurance to existing Apple Card customers.
Goldman Sachs is expected to stop issuing the Apple Card in early 2025, as the companies seek other financial institutions to back the card and savings account.
Apple won't report its latest financial results until Thursday evening, but investment firm Goldman Sachs offered investors a first take following the conclusion of the Scary Fast event.
Following reports of financial firm Goldman Sachs's deteriorating relationship with Apple, the company's CEO has avoided saying anything about wanting to pull out of its Apple Card and Apple Savings deals.
Apple Card and Apple Savings are performing so poorly for Goldman Sachs, one executive has reportedly said that "we should never have done this f****** thing."
Goldman Sachs is encouraged by the improving PC market, but warns Apple and other vendors still face lower spending budgets for both consumers and enterprise.
Apple and Apple Card financial partner Goldman Sachs are said to have abandoned nascent plans to co-develop a stock trading app like Robin Hood for iPhones, but it's not completely clear why.
Shipping dates show that the iPhone 15 Pro Max is the best-selling iPhone 15 model worldwide, and is now backordered into November 2023.
After a tumultuous period between Apple and Apple Card partner Goldman Sachs involving Apple Savings customer withdrawals, the issues appear to be mostly solved with loosened anti-fraud protections.
Apple partnered with Goldman Sachs to launch the Apple Card, and for the third time, the credit card has earned J.D. Power's number-one ranking in satisfaction.
Apple Savings deposits have hit a landmark $10 billion since inception, fueled by holders sweeping Daily Cash into the high-yield savings accounts.
Apple's relationship with Goldman Sachs led to the creation of the wildly successful Apple Card, but post-launch friction and a change in priorities has crashed the relationship into the rocks.
Alongside predicting a healthy but stable Apple quarterly earnings report in August, Goldman Sachs analysts say the iPhone 15 lineup will see greater numbers of users upgrading.
Goldman Sachs has reported more losses from its credit card operations, mostly attributable to Apple Card, and it's not clear when or how the bleeding will stop.
Apple Savings customers that inadvertently triggered fraud protection from large withdrawals had to wait days or weeks for money, and now they are being credited $100 for the inconvenience.
Some Apple customers are facing multi-week delays when trying to withdraw money from their Apple Savings accounts, largely due to automated anti-money-laundering protections.
Plans for the Apple Savings program may be jeopardized by troubles with Goldman Sachs' consumer business, as the bank has reportedly dropped its consumer credit card efforts outside of Apple Card.
The Federal Reserve has opened an investigation into Goldman Sachs to determine if the bank's consumer credit division, which for now includes Apple Card, has enough consumer protections.
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