> But then so are savings accounts at banks (vs Checking accounts) Yeah this is the part that I'm confused about because I think that savings accounts are fede

> But then so are savings accounts at banks (vs Checking accounts) Yeah this is the part that I'm confused about because I think that savings accounts are federally restricted to 6 withdrawls a month? I could be completely wrong on that. But yeah the target audience for this IMO - people who have maybe a few thousand saved up that they keep for emergency funds or semi-hot money for larger purchases. which matches the target iphone audience I think pretty well. I bet they restricted accounts to less then 250k because they don't want to bother splitting it across banks when the target audience would be expected to only have several thousand.