3 ms·

It's not explicitly mentioned if the deposits are FDIC insured, but looks like they are reading the foot note. I would have expected Apple to make it abundantly

It's not explicitly mentioned if the deposits are FDIC insured, but looks like they are reading the foot note. I would have expected Apple to make it abundantly clear given recent bank failures.

humanistbot 4y ago
They are, it's a Goldman Sachs account branded by Apple. But the recent bank failures have shown that the US government did not even hesitate to cover depositors who put themselves at risk. Goodbye moral hazard.
- dicomdan 4y ago
  What if I already have a Marcus / Goldman Sachs account with 250k? Is this going to be a separate 250k for the purposes of FDIC?
- rchaud 4y ago
  It's not the first time that portfolio losses accruing to billion-dollar companies have been covered by the taxpayer, and it won't be the last.
kyawzazaw 4y ago
too much info for users.