Apple Savings launch is imminent after signs of life spotted in code

JP234 said:

"Like the Apple Card, the Savings account will be provided by Goldman Sachs."

Does the Goldman Sachs involvement mean that the account will be FDIC insured? And just what does "high yield" mean to you? To me it's a meaningless expression. Could be anything, since there's no quantitive benchmark.

Currently, G-S savings account (called Marcus for some reason) has an APY of 3.75. Fidelity's Gov't, Money Market currently yields 4.51%. Not FDIC insured, but it's all government bonds with maturities of 90 days or less, and virtually no Money Market funds have "broken the buck," and BTW you can write checks with it.

My useless input for the day... The Marcus product was named after Marcus Goldman, who founded the bank in 1869.  :)

JP234 said:

"Like the Apple Card, the Savings account will be provided by Goldman Sachs."

Does the Goldman Sachs involvement mean that the account will be FDIC insured? And just what does "high yield" mean to you? To me it's a meaningless expression. Could be anything, since there's no quantitive benchmark.

Currently, G-S savings account (called Marcus for some reason) has an APY of 3.75. Fidelity's Gov't, Money Market currently yields 4.51%. Not FDIC insured, but it's all government bonds with maturities of 90 days or less, and virtually no Money Market funds have "broken the buck," and BTW you can write checks with it.

There are several banks offering high yield savings accounts that get 5%. 

Stabitha_Christie said:

JP234 said:

"Like the Apple Card, the Savings account will be provided by Goldman Sachs."

Does the Goldman Sachs involvement mean that the account will be FDIC insured? And just what does "high yield" mean to you? To me it's a meaningless expression. Could be anything, since there's no quantitive benchmark.

Currently, G-S savings account (called Marcus for some reason) has an APY of 3.75. Fidelity's Gov't, Money Market currently yields 4.51%. Not FDIC insured, but it's all government bonds with maturities of 90 days or less, and virtually no Money Market funds have "broken the buck," and BTW you can write checks with it.

There are several banks offering high yield savings accounts that get 5%. 

Please post links to these FDIC insured accounts there are at 5%.

JP234 said:

"Like the Apple Card, the Savings account will be provided by Goldman Sachs."

Does the Goldman Sachs involvement mean that the account will be FDIC insured? And just what does "high yield" mean to you? To me it's a meaningless expression. Could be anything, since there's no quantitive benchmark.

Currently, G-S savings account (called Marcus for some reason) has an APY of 3.75. Fidelity's Gov't, Money Market currently yields 4.51%. Not FDIC insured, but it's all government bonds with maturities of 90 days or less, and virtually no Money Market funds have "broken the buck," and BTW you can write checks with it.

It would be foolish if it wasn't FDIC insured and being at or near Marcus's rate would make sense.

JP234 said:

Xed said:

Stabitha_Christie said:

JP234 said:

"Like the Apple Card, the Savings account will be provided by Goldman Sachs."

Does the Goldman Sachs involvement mean that the account will be FDIC insured? And just what does "high yield" mean to you? To me it's a meaningless expression. Could be anything, since there's no quantitive benchmark.

Currently, G-S savings account (called Marcus for some reason) has an APY of 3.75. Fidelity's Gov't, Money Market currently yields 4.51%. Not FDIC insured, but it's all government bonds with maturities of 90 days or less, and virtually no Money Market funds have "broken the buck," and BTW you can write checks with it.

There are several banks offering high yield savings accounts that get 5%. 

Please post links to these FDIC insured accounts there are at 5%.

You don't need someone to do that for you. I found 6 on my own in less than 30 seconds.

I've found none that didn't come with some very severe caveats. I've found none that were like Marcus. So, please, what 6 did you find?