Get Switch Kit - Apple Bank For Savings

Apple savings accounts are provided by Goldman Sachs Bank and FDIC-insured up to $250,000. Apple Savings is only available to Apple Card* customers. If you don't qualify for Apple Savings, there are plenty of other high-yield savings accounts to consider.

As a Federal Deposit Insurance Corporation (FDIC) insured institution, deposits at Apple Bank receive full FDIC coverage of up to $250,000 per depositor, for each account ownership category.

Why you'll like the Apple savings account. The account has no monthly fee or minimum balance requirement, and the APY is notable. It is much more than the average savings rate for savings accounts, which is 0.46%, ing to the FDIC.

For many people, a savings account is one of their first bank accounts and can be a building block for good financial health. There are a few key steps you'll need to complete to open your new savings account, transfer the money from your old savings account to your new account, and close the existing account.

Funds in this account are federally insured up to the FDIC's insurance limits. FDIC insurance generally covers bank account balances up to $250,000 per person, per institution and per ownership category. ing to the deposit account terms from Goldman Sachs Bank, you can deposit a maximum amount of $1,000,000.

Con: Potentially Incur New or Higher Fees Before switching banks, read the fine print to make sure the new account doesn't charge higher (or more) fees than your current bank or moving your money may cost you.

Although Apple's name is on the account, Goldman Sachs Bank is the financial institution that provides the Apple Card and the Apple Savings account. Goldman Sachs is a member of the Federal Deposit Insurance Corporation (FDIC) — which insures deposits up to $250,000 per depositor, per account ownership category.

The Bank's careful attention to credit quality and liquidity has allowed it to remain solidly profitable and stable. Apple Bank is the largest state-chartered savings bank in New York, tracing its New York origins back to 1863.