Apple looks even more like a bank now that it’s adding a savings account to Apple Card

Soon, those Apple Daily Cash rebates will earn interest.

, appears to have decided that competing with tech companies isn’t enough. It also wants to compete with banks. Of course, banks generally tell you what the interest rates on their savings accounts are.Anyone who has the account can also deposit funds into the new savings account from a linked bank account or from their existing Apple Cash balance.

The cashback rebates on the Apple Card are 1 percent for most purchases, 2 percent when using Apple Pay,

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