The announcement follows a report in June that Goldman Sachs is considering exiting the Apple partnership. The Wall Street Journal said the bank was in talks with American Express Co. to take over the Apple credit card and other services that the companies offer together.
Apple Inc. and Goldman Sachs Group Inc. said that their new high-yield savings account has reached US$10 billion ($13.42 billion) in US deposits, showing strength in the face of speculation that the partners may be headed for a breakup.
Since the service launched in April, 97% of users have chosen to get their Apple Daily Cash — a cash-back reward program — deposited into the account, the iPhone maker said in a statement Wednesday. The savings account is built into the Wallet app on iPhones and allows users to transfer money in and out like a traditional account, yielding 4.15% in interest.
