Cook is happy with Apple Card Savings' launch

Onur Demirkol
May 8, 2023

During Apple's quarterly earnings call, Tim Cook talked about the new Apple Card Savings feature and praised the initial response as it has been "incredible."

Apple recently held its quarterly earnings call, and many topics were discussed during the meeting, with one of them being the company's stance on Apple Card Savings' major success. Tim Cook said that the response to the new feature has been "incredible," says MacRumors. Apple seems happy with the performance of its new feature.

Apart from the Savings feature, Cook also mentioned Apple Pay Later, which was also revealed a while ago. He said that these two features help customers to live a "healthier financial life," and he is "very excited about the first days of both of them."

Apple recently announced its new Savings account feature, offering a 4.15% annual return. Thousands of users showed interest in it and deposited their money without thinking a second time. Apple Savings accounts almost reached $1 billion in four days, which is one of the biggest reasons Cook said the response was "incredible." 

The feature was revealed before its initial launch, as a Twitter user found information about it on the backend code. This means that many people were waiting for it to come out so that they could deposit their money with a high annual return rate.

Cook Apple savings
Apple Savings

Apple Card Savings exceeded expectations quickly

The response was surely incredible, as hundreds of thousands of users created accounts within the first week of its launch. Forbes reputed that after the first week, the new feature attracted over 240,000 users. If you have never heard about the feature and have questions, don't forget to check out our How to open an Apple Card Savings account guide to learn more about Apple and Goldman Sachs' newest feature.

Currently, the feature is only available for United States residents with a valid physical U.S. address. As mentioned, Apple's partner is Goldman Sachs, and it is unclear whether the companies are thinking of making it a worldwide feature. Even if they do, it will surely take a couple of years to reach other countries in the world, and most likely, a majority of them won't get it.


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