How would an Apple bank account work?

Technology analyst Benedict Evans recently posted via his Twitter account, “Request-for-blog-post from a fintech expert: what an Apple ‘bank account’ would look like and how the rails might work.”

Ron Shevlin for Forbes:

Alex Johnson, author of the Fintech Takes newsletter, took up the challenge and speculated that an Apple bank account would:
Utilize a combined checking & high-yield savings structure, with automated savings capabilities that can intelligently shuttle money back and forth. It would have a physical debit card with virtual one-time and subscription token capabilities and built-in BNPL financing for larger purchases. It would allow for direct deposit, and it would provide two-day early access to customers’ paychecks.
It would refund 100% of out-of-network ATM fees and would have a limited amount of PFM functionality (modeled after the Apple Card UI). I do not think that it would feature overdraft protection or paycheck advance services (that’s not Apple’s target market) and I doubt that it would include any investing capabilities (feels like a bridge too far for Apple right now).”
Itai Damtai, CEO of Unit, a banking as a service platform provider, also weighed in on Evans’ request…

MacDailyNews Note: there’s tons more, including Shevlin’s assertion that “Plaid could be a great acquisition candidate for Apple,” in the full article – recommended – here.
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