Apple isn’t exactly known for its deals. But now, they want you to save. The tech company is offering Apple Card users the option of keeping their money in a savings account.
Three weeks after the company said it would let consumers buy its products in installments, the iPhone maker says customers can now keep their money with the tech giant.
The play is based on the massive reach of Apple products. Last quarter, the maker of iPhones, iPads and Mac computers reported more than 2 billion active Apple devices. Apple has been rolling out new payment services, including Apple Pay and Apple Card over the past decade. Ex // Top Stories Police seek suspect who assaulted Cal student with rock The suspect was described as a male with dark skin and a heavy build who was last seen wearing a black sweatshirt with red or brown pants
“The more money you keep with Apple, the easier it is to buy Apple hardware, subscribe to Apple services, and transact using Apple’s financial products, which generate fees.” Johnson disagreed with that view, referring to the advantages of traditional banks which typically have long-standing and loyal customers. “The big banks are delighted to be paying low rates for sticky deposits and let Apple and the others duke it out for the rate-seeking deposits,” he said.
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