Sara Morrison: Yeah, it was shockingly easy. First of all, what was it like? A couple of taps and boom, you’re in? Kai Ryssdal: You opened up one of these Apple savings accounts. The following is an edited transcript of their conversation. “Marketplace” host Kai Ryssdal spoke with Morrison about what it’s like banking on her iPhone. Morrison wrote about her experience with the account in Vox. But when you think about it, it’s come such a long way so fast into so many things.” “And it makes sense that banks would be in there.

If that sounds like a lot of only-Apple features stacked on top of one another, that’s because it is.įor that reason, Vox senior reporter Sara Morrison said setting up her account was “shockingly easy.” She also said she’s made more in interest with Apple in three weeks than she did in almost three years with her previous savings account - although to be fair, some conventional financial institutions offer similar savings rates, in line with the Federal Reserve’s campaign of interest rate hikes.īut those benefits of being an Apple customer come with questions about how far the company reaches into its customers’ lives. The account is baked into your iPhone operating system, along with your Apple credit card, in your Apple Wallet app.

Now, the tech giant is making a bigger splash with the Apple Card savings account, which comes with an impressive 4.15% interest rate. The company dipped its toe into banking when its credit card, Apple Card, arrived in 2019.

Since becoming a force in the tech world, Apple has made several moves into financial technology, also known as fintech.

Too steep download