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Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

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Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#291

Post by scubbo »

latchkey wrote: post #263
scubbo wrote: post #260

Earlier quoted context omitted.

I think you're comparing apples to oranges. Even Crypto's most ardent supporters would not disagree that prices are volatile - which means that it doesn't suit my stated requirement that there's never a bad time to liquidate the investment (if my roof springs a leak right as WhateverCoin takes a nosedive, I'm shit out of luck). I will admit that I've never invested in gold, but if you're talking buying actual literal…

It sounds like you missed the very end of my comment. "For that, I'd suggest more than just buy/hold and really delve into the lending/borrowing markets in DeFi." Crypto itself is volatile, however there are more complex (and potentially risky depending on how you look at it) ways of mitigating the volatility via lending/borrowing (and options for that matter) DeFi markets. All of which are easily liquidated, in seco…

Fair point. I will certainly admit that, despite having made a decent (not spectacular) profit in crypto in 2021-22, the cascading high-profile failures and rug-pulls have made me lose faith in the individuals involved. The technology and concepts themselves are a different matter. I love and enthusiastically support what people _claim_ to be working towards, but an overwhelming weight of evidence suggests that the rational thing to do is to assume that any crypto project is vapourware, a scam, or some combination. Here's hoping I will be proved wrong one day, I really hope so.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#292

Post by TMWNN »

5amdotis wrote: post #199

When will Apple Card be available outside the US? I would use it if it was available in Europe… Sometimes Apple is too US centred.

Goldman Sachs, the bank Apple uses to provide banking products, does not offer consumer banking services outside the US. Banking is a very regulated industry, so does not translate well across borders. This is why having (say) a TD Bank account in Canada does not mean that you can transparently withdraw from it from a TD Bank US branch; you have to have a separate US account, and transfer the funds between.

Apple will only offer its card (and now savings account) outside the US if and when it can find a partner that is willing to do what it has persuaded Goldman Sachs to provide in the US, the high interest rate we're discussing being one example, and it thinks doing so will be worthwhile in terms of addressable market and potential profit. This means that a) most countries will never get Apple financial products, and b) it's quite possible that Apple Card will never be available outside the US, not even in fellow high-income countries with comparable iPhone adoption rates.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#294

Post by downWidOutaFite »

runjake wrote: post #190
downWidOutaFite wrote: post #106

Earlier quoted context omitted.

Used to be a decent source until they started letting ads take over their content. In your link you have to get past the "Featured" section and "Offers from banks you may use" section to see the actual content. Many times I've needed an extra click to get past the ads, or been completely unable to.

Thanks for that info. I use uBlock Origin, and I'm not ever seeing these ads, so I was not aware!

"Featured Offers" section and "Offers from banks you may use" are not blocked by an ad blocker, it's part of the content.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#295

Post by astrange »

brundolf wrote: post #151
sosuke wrote: post #16

I feel somewhat confused; my current Wells Fargo saving account APY is 0.01% where did I go wrong? Seems like I might be shifting my money to a new home. Edit: In the very least it will educate many uninformed folks like myself they are getting shafted at their current banks. Double edit: Thank you for all the helpful links and information!

I just took a double-look at the Betterment high-yield savings account they'd offered to me previously (I already have an account there for investments), which I'd dismissed because it seemed convenient to keep my savings and checking in the same place (Chase), and it's 4.2%! I've been getting 0.01% at Chase! Needless to say I'm going to be trying it out! Thanks Apple! Edit: It looks like they have a checking account…

Honestly savings account interest rate doesn't matter. If you're keeping a significant amount in there that you don't need to spend in the next 90 days, you're probably doing something wrong and should invest it in I bonds or something like Betterment Safety Net.

If you do have that much in short term savings, then that savings interest is taxed as ordinary income, pretty bad for a high income tech worker.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#296

Post by cjrp »

incanus77 wrote: post #289
cjrp wrote: post #282

Earlier quoted context omitted.

Mm I mean more gross ethically than a difficult market.

So do I.

I was trying to think of how cell phones might be considered gross ethically; I guess the manufacture? Foxconn etc.?

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#297

Post by Simulacra »

brookst wrote: post #229
Simulacra wrote: post #2

How many of you got the card just to have a titanium Apple card, and never used it, or was that just me?

Yeah, same. And now I don't even know where the physical card is.

I used it for a few months, canceled it and put it on a shelf with other knickknacks, like my 2002 iPod. Something to show kids.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#298

Post by iakh »

donohoe wrote: post #179
hakunin wrote: post #114

So far each new Apple financial product makes me research and re-evaluate my options. When they announced their credit card, I got into "cash back" (thankful that I did), and ended up always getting good percentages back on every purchase. Apple Card was a jumping off point for further research. (For those curious, I ended up with Bank of America Premium Rewards at Platinum Honors tier + Amazon 5% card, Target 5% car…

I'm still very happy with Ally for general banking - still prefer their app over others that I have seen. For Savings they are still very good but also have a "No Penalty CD" thats at 4.25% APR and their "High Yield CD" is at 4.8% for 18 months https://www.ally.com/bank/cd-rates/ For kids we did go with Chase, and I maintain a balance to avoid fees and allow for a monthly transfer for allowances. I have a recurring t…

I recently decided to move our cash into money market funds and built https://moneymarket.fun/ to help find the highest yielding ones. Right now WMPXX is 4.9% on WellsTrade with no minimum investment. Several other options all > 4.8% as well on various other brokerages.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#299

Post by r00fus »

cypherpunks01 wrote: post #286
r00fus wrote: post #281

Earlier quoted context omitted.

Wealthfront requires me to authenticate with my existing bank (ie, entering existing creds into wealthfront) for transferring money. Any way around that? That's kind of a no-go for me.

Hmm, I don't remember my setup exactly, but I thought there was a way to manually add a new account for withdrawal, of course, you'd be entering account number, which is sort of like a password. But I'm sure they have to handle transfers from old-school banks that don't have all these fintech connections, perhaps their support could help, I'm not totally sure sorry!

Amusingly I got it to accept the ABA routing but then they recognize the ABA and force me to login.

I just don't want to type in my other bank's credentials into Wealthfront. I'm sure they know I don't but won't let me avoid it. So I'll continue to avoid them.

Re: Apple Card’s new high-yield Savings account is now available, offering a 4.15 p

#300

Post by incanus77 »

cjrp wrote: post #296
incanus77 wrote: post #289

Earlier quoted context omitted.

So do I.

I was trying to think of how cell phones might be considered gross ethically; I guess the manufacture? Foxconn etc.?

I was thinking in terms of the consumer-facing experience, which was pretty slimy and definitely not one of the most straightforward nor honest-feeling experiences. I worked briefly at Radio Shack in the late 90s and part of the job was selling the first generation of digital cell phones. Our competition was phone kiosks in the mall and places like that. The whole experience was ripe for a focus on the consumer transaction as well as the consumer experience (example: visual voicemail).
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