"Apple's High-Yield Savings Account Attracts Billions in Deposits in Record Time"

Apple's new high-yield savings account, launched last month, attracted nearly $1 billion in deposits in just four days, with nearly 240,000 accounts opened. The savings account, which offers a yield of 4.15% and no fees, is available to Apple Card customers through its partner, Goldman Sachs. While the yield is not the highest, the convenience of integration into the iPhone's Wallet app is a major draw for customers. The success of the launch highlights Apple's ability to monetize its massive user base and underscores the challenges faced by regional banks.