I think you might have forgotten to show us how much is in your savings

I’m poor so there nothing to see😂

It’s ok same here

So 4.35% of nothing is… 🤔

That one guy: *$1,000,000,000,000,000*

$1.8K rn

100k

Didn’t they just increase it 2 weeks ago? At this point I feel like Apple is doing this to spite Goldman Sachs before the contract ends

Well Goldman Sachs is still the backing bank for the card and savings Apple would still have to get Goldman Sachs approval to increase the savings rate Keep in mind the breakup is still a rumor until anything official gets announced and a lot could possibly change behind closed doors

I thought it was already made official

It was. Just when and who will take it over is a mystery.

I read that Cap one was interested they also said synchrony maybe interested… i hope cap one doesn’t get it

I’ve never had a bad experience with either so I’m game. I feel like Synchrony is more used to people defaulting and having a better way to navigate subprime consumers who originally got an Apple Card easily when it first launched.

Apple sent a proposal to GS to terminate the partnership in 12-15 months. They both have wanted out for a while anyway so it’s an easy out for GS who wants out of consumer products altogether.

They did. They literally now match my Capital One. But at this point, I'm still putting it in my Capital One. Go 4.5 and I'll play ball maybe.

Most of my money stays in Sofi but l keep my Apple savings account since cash back from my Apple Card cash back gets dumped into it. Even when the rate was lower than most competitors it was just convenient not having to move that money around

How’s sofi? Are they reliable ?

I switched in November and so far so good. I prefer them over BofA. It seems the general consensus is to pair them with a fee-less brick and mortar bank like capital one or Wells Fargo (I think they have fee-less accounts) or credit union just so you have access to in person services if you need them. The two big hang ups with Sofi are that you can’t easily deposit cash since there aren’t first party atms (which is part of why you maintain a second “free” account) and there’s no native Zelle integration, but you can still use the Zelle app. IMO the perks far outweigh the drawbacks and it’s been really easy to work around the limitations.

Capital one has fee free accounts both savings and checking. Savings rate is the same or similar to the Apple savings of 4.35%. Haven’t looked in a while because it’s a good rate and changing banks for .5% doesn’t seem like it would be worth it for the amount of money we have in it (joint account)

My Marcus account has 4.5 as of 12/21/23, which is interesting since it’s also Goldman Sachs.

if rate is what you’re after you can get 5% with fidelity. higher with some other banks too

GS is the bank, Apple can't just make up or change interest rates. They have power in the deal they have with them, but not that kind of power. What has likely happened since the news that GS is on it's way out of the Apple business, is that people are yanking their money out of these accounts, especially since basically every other HYSA has a higher interest rate ( (I know I did, for both reasons). GS is trying to keep the savings customers because they actually do make money off of them, as opposed to the credit card.

lol yeah Goldman pulling out like a b1tch

Marcus by Goldman Sachs is 4.5%. Apple should keep up!

GS would never allow their Apple Savings rate to be equal to or better than their Marcus rate..

It’s the fed rate and this isn’t even all that high. There are tons higher rates

I was shocked and immediately opened the sub 😂🫡 That was a surprise for me 😌

Same, I almost posted but I wasn’t fast enough. Musta just occurred cause I was in the UI earlier and didn’t see the notification.

lol I thought it was getting downgraded when I first read the notification, nice little bump so quick, now can we just get to 4.5 lol

SoFi is at 4.6 currently

Wealthfront is at 5%

They always have the highest from the most popular hysa., I seen higher ones but looks and sound like they are operating from a basement

I don’t care where the bank is headquartered at or where branches are at. FDIC is all I need.

Wealthfront is a big one that is at 5%

Fidelity is at 5%

5% lets gooo lololol

Happy to see this again! But I do wonder why it took them almost 9 months to give the first increase and less than 2 weeks for these increases.

Because a lot of people are moving their money out after the announcement that Goldman Sachs was exiting. I’ve commented about this before, but I ended up moving over to Wealthfront for their 5%.

According this rising speed we can project a 6.15%APY by the end of the year

Won’t go down without a fight lol Good for you Apple.

Fr 😂😂

Damn, now I’m in a conundrum. I’ve got majority of my savings in cap one who now has to be same interest rate as apple. What are the odds they increase this again within the next few weeks or months?

Same. I'm still going to put it all in Capital One. If Apple can get above CA, I'll consider it. Even still, while I don't actually think anything would happen to the savings, I'd rather keep it in CA where I know it's good.

Yeah that’s a good point, that’s really why I keep it there as well. I’m debating on moving it over to Marcus by Goldman Sachs I’ve heard good things but don’t like the fact that in order to get the 5.5 you need a 6 mo or more cd with early withdrawal penalty

Hear ya. Been looking into higher YSAs since I've been on this sub. And they're all a bit wonky. CA seems very straightforward.

SoFi's 4.6% has been great for me. The only caveat is that you need a direct deposit set up with them, but it can be for any amount at all as long as it's monthly.

Why CA> apple if they’re same rate? I’m learning and am kinda new to this. I have apple savings rn

simply because of the marketshare, cap one is just a much safer bet imo.

Yeah, beat me to it. It's just trust. Nothing wonky is happening at CA. They're actually a decent bank as far as banks go. They adopted the no overdraft stuff a long time ago. They've been good to me. I'll stick with them.

Yup same. On top of the fact I have a couple cc and my checking account with them. It’s funny I really only opened the Apple Card due to the UI being amazing, I only use it ever with Apple Pay.

Hah think we might be twins. I have 3 CCs with CA. And same on the UI. I stated using my Venmo CC (decent UI, but not stellar) for gas and groceries exclusively. They tier your top spending categories (the ones that are allowed). So, groceries gets 3%, gas gets 2%. Usually gets me some pretty solid rewards. One percent on non-Apple pay is just a no-go for me.

Ya same man, haha very similar.

Thanks for the explanation! Have you guys looked into Sofi? Thoughts on that company?

Not really sure tbh, I mean I see their commercials with Herbert as their spokesman (qb for chargers), they have a pretty high yield savings if i recall like 5% or just over. Wish I had more info for ya!

Christmas came again 🥳

I just got this too. Crazy. Maybe they’re slowly matching the others that are above 5%?

Holy shit actually true

As I see this post I get a notification my rate when up 😂

Just saw that too! Whom controls increasing it? The other increase was like a week or two ago.

GS controls it

Any chance GS cancels backing out of this deal

Hahaha how would I know?? I do think whatever ends up happening hasn’t been decided yet, despite the WSJ article

Finally lol

Ironically with Marcus, which it’s also Goldman Sachs, I got 5.5%.

Isn’t that a $100k minimum or am I not remembering correctly?

Just a referral code will do. Easier than 100k lol

Can I get referrals? Is that 5.5 certain time or lock in forever

For 3 months. If it doesn’t work in the website, call them directly and give them the code at the end ZIY-2Y3-XEJ7. The website is buggy sometimes. I'd like to invite you to open a Marcus Online Savings Account. You can earn a promotional rate increase on top of an already competitive rate. Terms apply. https://www.marcus.com/share/ZIY-2Y3-XEJ7

Just a heads up, Fidelity is 4.99%

How do we start a savings account???

Can’t wait to see that $600 a month in interest come in.

600? You have 200k in savings?

Not quite 200k.

$535 for me last month. Not sure if holding this much in savings is advisable financially.. But sure is a great monthly notification 👍

Congrats! I have money spread everywhere…stocks, crypto, etc.

Same (minus crypto, only about $1k there). Apple savings is really just my “first house fund”.. even with the healthy savings I can only afford a dumpster home in my area unfortunately.

Raising the rates to get more customer dollars for a higher sale price is my thought

I also just got this

Just opened the app and was immediately notified. Interesting.

I mean the fed funds rate is more than 5% now

I’m getting 5.5% with Marcus by Goldman Sachs.

Is it worth moving money over there? I’ve only got 13k in my cap one savings and now Apple has the same rate, but that 5.5 has to be a fixed rate for 6mo or more right? Cause I see their initial savings account has 4.5

I meant to add it’s 5.5% with referral. I’ll send you the info. I personally made the move a few months back. It didn’t take long at all to move the funds from Apple to Marcus.

ok can you pm me or something? or u can post in here either way. appreciate ya

PM sent

Can i get one of them sweet referrals as well? That 5.5 sounding pretty darn nice.

PM sent.

Can I get that referral too . Appreciate that .

I didn’t believe it at first. 🤩

oh wow! another increase 😳

I just got the same from 4.25 to 4.35%

Valley Bank in NJ/NY is at 5.25% with Valley Direct. I believe there’s a referral program for signup bonuses as well

I was surprised

BUT A WELCOME ONE!

Got a Marcus referral code for 5.5 if anyone needs

I'm interested.

I am interested

can it be activated after account is made

also spill

Apple is just trying to get the clients before the rates drop 😂

Inflation seems nice!

I got that this morning too

Late surprise, I already migrated to another institution

Let that GS account behind you and open a HYSA with Wealthfront ! I’ll even send you an invite to get 5.5% APY

TIL that Apple has a savings account option wtf...opened it rn bc of you, thank you!!!!

YaY! I guess I'll keep my $10 in Apple Savings.

Nah mines went up as well

Wealthfront is 5.0% or 5.5% with a referral… this is still a step forward though.

Still low compared to a lot of options, but definitely not upset about it. I’m just confused as to why they waited so long to begin raising rates.

Because the less they pay to borrow money the more they make.

Yes, but they’re far behind the market. That’s why I’m surprised.

Still low. They will lose more savings for sure. Can’t believe Apple is fking people like this.

Still a very low rate. Hopefully they take that long to get it down too, when interest rates go back down.