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Re:Ask HN: How does Apple Offer 4.15% APY? by wmf on Saturday April 22, 2023 @06:03PM (#35671313)
3-month treasuries pay 5%.
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Re:Ask HN: How does Apple Offer 4.15% APY? by nvy on Saturday April 22, 2023 @07:02PM (#35671697)
It's actually a Goldman-Sachs account in Apple packaging. The federal funds rate is in the 4.75-5% range, which means Goldman, in theory, can take the money you deposit and re-lend it at 4.8% or so, pay you your interest, and still make a profit.
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Re:Ask HN: How does Apple Offer 4.15% APY? by mooreds on Saturday April 22, 2023 @07:08PM (#35671740)
Also, probably somewhat of a loss leader, getting folks to move their accounts.
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Re:Ask HN: How does Apple Offer 4.15% APY? by tacosbane on Saturday April 22, 2023 @08:19PM (#35672143)
they don't, it's a branded account. wealthfront's cash management account currently pays 4.3% up to 3m.
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Re:Ask HN: How does Apple Offer 4.15% APY? by LUmBULtERA on Sunday April 23, 2023 @07:23AM (#35675293)
As others are saying, the high federal funds rate makes this quite easy. Vanguard offers a Federal Money Market that can be used as a cash-sweep in its brokerage accounts that's currently offering 4.88% compounded yield (VMFXX). I'd rather use that myself than Apple's lower 4.15%.
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Re:Ask HN: How does Apple Offer 4.15% APY? by pgwhalen on Sunday April 23, 2023 @09:52AM (#35676242)
It’s worth noting that you’re sort of comparing apples and oranges, as VMFXX is not FDIC insured.
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