90
More Than $10 Billion Deposited in Apple Card Savings Accounts
(www.macrumors.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 04 Aug 2023
90 points (95.0% liked)
Apple
17491 readers
99 users here now
Welcome
to the largest Apple community on Lemmy. This is the place where we talk about everything Apple, from iOS to the exciting upcoming Apple Vision Pro. Feel free to join the discussion!
Rules:
- No NSFW Content
- No Hate Speech or Personal Attacks
- No Ads / Spamming
Self promotion is only allowed in the pinned monthly thread
Communities of Interest:
Apple Hardware
Apple TV
Apple Watch
iPad
iPhone
Mac
Vintage Apple
Apple Software
iOS
iPadOS
macOS
tvOS
watchOS
Shortcuts
Xcode
Community banner courtesy of u/Antsomnia.
founded 1 year ago
MODERATORS
It's kind of alarming how smoothly Apple made the transition to being a bank.
They're slowly transitioning into the type of megacorp you usually only see in science fiction.
Apple isn't technically a bank in this case, but even if they were, it's pretty common and not at all a dystopian sci-fi thing. Sony owns a bank. Hyundai owns a bank. In the US, GM made a bank over a century ago, spun it off in 2006 (it's now called Ally), realized that was a mistake, and bought an existing bank in 2010.
Realistically once a business hits a certain size it’s practically a requirement. There’s not really a good way to be a company with a market cap of hundreds of billions, yet alone trillions and not at least act like a bank in a whole lot of situations. Might as well actually own one.