Reading that Apple Card and Goldman Sachs are going to part ways. I have some $ in Apple Savings account, wonder if Apple has another bank in mind or ….
First Apple and Goldman have a contract that was just extended to 2030 or 2029. Second this is part of Apple’s Service business - the only part of Apple that is growing and the most profitable part. Third both Apple and Goldman are rumored to have approached alternatives for Goldman continuing.
The funds in your Apple savings account are safe and insured just like any other major bank. I fail to see why Goldman as a partner is better than say Bank of American, Synchrony or even American Express.
My personal view is you are more likely to be flooded by rising ocean levels than loose money that is currently in your Apple Savings account.
lol - thx Gordon. I figured you would have the latest info…I hadn’t yet heard that they were extended, what I read was that the contact had approximately 12 months to go… glad you had more details. Thx
Agreed, awaiting update on status sometime within next few months….
more on A;pple Card fro Bloomberg: Gurman, in his outline of the situation, names another firm as his pick: Chase. This is because Chase is already closely tied to Apple in a number of areas, including working on Cupertino’s Ultimate Rewards program, acting as a key early partner for Apple Pay, and “storing” some of Apple’s cash on hand. As Gurman points out, Chase also has the advantage of being connected to MasterCard, which means Apple Card wouldn’t need to switch to a different platform. (American Express uses its own platform.)
There’s still plenty of time for this saga to unfold, but for now, the Apple Card service will continue to run as before.
My Amazon charge card is a Chase card, and that is VISA. Sounds like Chase has both bases covered.