Post #103 by Goofyhoofy on the Macroeconomic Trends and Risks board

Personal Finance Topics / Macroeconomic Trends and Risks ❤

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A 'money market' is not FDIC, for a lot of people that's a difference.

I suspect Apple is just getting paid as a lead generator for Goldman, who is offering 4.15% through its bank. There are plenty of banks offering over 4%, so clearly they think they can earn more than that and pocket the vig and still pay the expenses.

Goldman sees the Apple customer base as wealthier (duh) and having a right-of-way into their pocket is a worthwhile construction project. Apple sees Goldman as stable, offering an FDIC account with good interest as a consumer benefit, and gets paid a slice along the way. Both entities win, and it's hard to see how the Apple customer loses.

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