She does not leave the United States, but little by little the Apple Card moves away from a simple credit card and is closer to a set of financial services which we could well call a bank. Or the above right in front of a bank.
We are already very close (if there are no delays) to starting to see the Apple Pay Later service, which will allow us to pay for our purchases in installments without interest without depending on any bank and using the own capital of Apple as collateral, and now the Apple Card will launch another interesting service: a savings account integrated into the card.
Card, installments and savings: we are getting closer to an ‘Apple Bank’
The savings account will be visible from the Apple Card section itself
Apple Card users receive what is called cash back: receive a sum of money in exchange for purchases with the card. For example, if you buy an iPhone for $1,000, you can receive $30 credit on the Apple Card as a 3% discount. cash back.
Until now, this money was saved as Apple Cash to be able to send it to others via iMessage, but now it will also be possible to accumulate it in an Apple Card savings account with the support from Goldman Sachs. The bill will not require a minimum balance and will not have commissions, and of course, you will always have the choice of continuing to use the money from Apple Cash and not saving it to this account. It will only be one more option.
Another interesting point: you can transfer money from a bank account directly to this savings account, with which we could even manage all our savings from the same Apple Card. American banks should not be too happy about this.
Too bad that at the moment this is only available in the United States (it will be activated “for the next few months”), and we still have no new clues to see this Apple service in other countries. We will have to continue to be patient.
