back to article Half of Apple fanbois would bank with the iPad titan

One in 10 punters polled in the US and UK admitted they would bank with Apple if the iPad maker decided to move into the money sector. Among Apple product owners, 43 per cent of those quizzed would consider dumping their current banks for the iPhone biz. Two thirds of the 5,000 surveyed fanbois said they'd switch to a notional …


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  1. Aristotles slow and dimwitted horse

    O.... k....

    Another diversification from the core modus operandi and in 10 years time Apple becomes what Microsoft is now.

    I.e. lost.

    1. admiraljkb

      Re: O.... k....

      Possibly. Problem is they have a LOT of money and need to do something with it that isn't completely stupid. (and I don't know what banking would qualify as for Apple... Probably would take 10 years to find out if it was brilliant or stupid)

      1. yragsapo

        Re: O.... k....

        Apple will slowly migrate to other, tangental businesses. They started in computers, then expanded into MP3 players and music sales, phones, application sales and now look like they may take a serious stab at TV. Thing is, banking is so far removed (except for people paying for their stuff) that I think it would be too big a leap to make sense at this time. As a stockholder, I'd rather see the company offer huge dividends (after putting a fortune into R&D), if they have too much incoming money to know what to do with and "enough" in the bank already (like they have now).

    2. Ted Treen

      Re: O.... k....

      Read the article again.

      "David Rankin, boss of the research consultancy behind the study KAE, believes banking is an obvious next step for the computer makers:"

      (David Rankin - who he? - ed)

      Does anyone at Apple believe this? Has anyone at Apple even considered this? If so, has it even been mooted?

      I'm sure that, knowing Apple's very high public profile, a research consultancy would not implement some totally spurious survey just to wallow in the resulting publicity...

      1. streaky

        Re: O.... k....

        No because it's so obviously stupid.

        43% of Apple fanbois would also buy an Apple car and fly Apple Air and use an Apple fridge and microwave. How could Apple possibly resist?

        Great, what?

        Apple want to spend their money they can pay dividends, buy back shares, give their employees big bonuses, build fabs of their own.. Buy Intel..

        Truth is Apple isn't actually that rich or big a company. It would be far easier to ask why Boeing wouldn't. Well, because it's stupid.

        1. What? Me worry?

          Re: O.... k....

          Err... well, Boeing does have their own bank. (Well, sort of, not really, but, yes. :) It's not a bank, it's an employee credit union: BECU.

          Similarly, one of the IKEA related companies IKANO Group, owned by Ingvar Kamprad and family, has a bank: IKANO Bank. There are many other examples.

          Mostly, they server a specific user group or support a particular organisation.

          In the case of Apple and this survey, the implication from the results is that it would be a good idea applying the Apple brand and the brand's positive halo effect, to a new venture. In the survey example, banking. But I think it could be applicable to other markets or industries, too.

          I mean, Apple makes mobile phones?! C'mon, when they were busy selling Apple ii and the first Macintoshes, who'd of thought they'd make mp3 players and phones..?

          1. DRendar

            Re: O.... k....

            " I mean, Apple makes mobile phones?! C'mon,whentheywerebusyselling Apple ii and the first Macintoshes, who'd of thought they'd make mp3 players and phones..?"

            Considering that mp3s didn't exist then, let alone portable players and mobile phones, I'd have a wild stab at 'none'.

            That aside - It's "who'd HAVE thought"!!

            For example, who'd have thought that Compaq (also a personal computer manufacturer) would develop the world's first hard disk based portable digital music player? (3 years before Apple released the IPod by the way)

      2. streaky

        Re: O.... k....

        Besides Apple has competition issues to deal with already, why would you go out your way to make them worse by splurging across every sector you can find when it isn't slightly connected to your core business?

    3. His Shadow

      Re: O.... k....

      Are you insinuating that your takeaway from the article is that Apple is going to open a bank?

  2. Richard 31
    Paris Hilton


    Until you realise that Apple would want its 30% cut of anything you transferred into the bank. :)

    1. dogged
      Thumb Up

      Re: 30%

      or out of. The Apple way is to get you coming and going.

    2. HMB

      Re: 30%

      Not that big a deal.

    3. Lallabalalla
      Thumb Up

      Re: 30%

      Not rising to *that* troll.

      They'd be WAAAAAY better than @%$!` Paypal, maybe even see them off entirely, well, one can hope.

      1. David Barrett

        Re: 30%

        Paypal do not take 30% of everything, is that what you're sugesting?

        1. Anonymous Coward
          Anonymous Coward

          Re: 30%

          PayPal shut me out of my account, and never replied to my attempts to contact them. So essentially, they took 100% of everything.

    4. Voland's right hand Silver badge

      Re: 30%

      That is exactly why they will never be a bank. They cannot take the same obscene cut on banking as on their other stuff.

      1. Chad H.

        Re: 30%

        Gee Voland, maybe you should go talk to Tesco et all about their Obscene cut.

        if anything, since developers get 70% of the retail price (try getting that anywhere else) wouldnt an iBank give you something like 70% of the Bank of England rate on your savings.

        But of course, you lot would still winge about the stolen 30%....

  3. admiraljkb

    MIght be a good idea really

    They've got a lot of money, and need to diversify. This isn't the worst idea I've heard.

    1. Anonymous Coward
      Anonymous Coward


      Would become obsolete, iphones for payment using iterminals. In fact as they grow there will be a new currency, the icoin, within 3 years countries will fight to become part of it.

      Goodbye to $,¥,€,£...... Hello icoin.

      1. FartingHippo

        Re: icoin

        Good idea. They could patent the fact that iCoins had rounded corners too.

      2. admiraljkb

        Re: MOney

        and if the iterminal doesn't accept payment, "maybe you're holding it wrong"

        Sorry, couldn't resist...

      3. streaky

        Re: MOney

        I'm actually killing myself right now.

  4. Soruk
    Thumb Down

    Take 30% of all deposits, and take another 30% of every payment to pay the iCreditCard - with an interest rate to only attract the most tunnel-visioned of all fanbois. Id' rather poke my eyes out with an old Santander biro.

    1. Chad H.

      Enough with the 30% crap please

      Okay, you think you're funny, we get it. Meanwhile iStore products give a greater percentage of the sales price to the developer than almost any other retail route.

      Based on this, the logical presumption would be a higher interest rate at the iBank.

  5. g e

    Domain/trademark payday opportunity for someone?


    Credentrust Software Inc.

    3151 Airway Avenue

    Building G003

    Costa Mesa, CA 92626


    Domain Name: IBANK.COM

    1. Anonymous Coward
      Anonymous Coward

      Re: Domain/trademark payday opportunity for someone?

      iPaid? or for our fave comentard Barry apple - Medium to large fruit with an intense solid dark red skin. Lasts 3 months in storage.

      or Belmac - a very good flavoured apple type!

      of for the real fan -

      I wouldn't bank with 'em. I wouldn't bank with any of 'em if I was given a choice.

  6. Andrew Smith

    If Apple jumped off a cliff...?

    1. Dazed and Confused

      If Apple jumped off a cliff...?

      How long do you think the queue would be for the iJump ?

    2. Anonymous Coward
      Anonymous Coward

      What if you do? So the rest of us don't have to listen to your pointless comments like this that nothing of value to the conversation?

  7. Nick G

    Adding more validity to the old phrase 'A fool & his money...'

  8. Anonymous Coward
    Anonymous Coward

    F*ck that

    What happens when you withdraw cash from an Apple ATM and find out that the banknotes are a 'proprietary format' that are only accepted in Apple stores?

    1. Anonymous Coward


      Nah, they'll also be accepted in other stores. IF you paid your usage license fee to Apple which allows you to use their protected-by-license currency.

      Safety first!

    2. amanfromearth

      Re: F*ck that

      At least the banknotes would have lovely rounded corners.

  9. Dave 126 Silver badge

    Either finance or defense - drugs and pr0n markets just too small

    I've heard it said that the big American car manufacturers eventually became sellers of financial products (hire purchase etc) with an attached car factory. Ho hum.

    During the recent 'Apple Dividends' story I was thinking of where else the company could go to continue their expansion. Having not considered finance, the only big-enough sector that I could come up with was 'defence'.

    A la Samsung Techwin ( Youtube: 'Samsung Techwin Defense Program' for classic Troy McClur-style voice-over)

    1. Gazareth

      Re: Either finance or defense - drugs and pr0n markets just too small

      I believe Porsche have long made more money from financial dealings than from selling cars.

    2. Darryl

      Re: Either finance or defense - drugs and pr0n markets just too small

      Finance and defense may be too small... Any medium sized countries up for sale? Looking at you, Greece

  10. This post has been deleted by its author

    1. Anonymous Coward
      Anonymous Coward

      Re: Misleading headline

      Yes but this is El Reg, they'll put an apple story up, so they get loads of page hits from the same old commentards who seem to enjoy posting the same old apple jokes everyday.

      It's a measure of their collective mentality that they never get bored of it.

      1. Anonymous Coward

        Re: "It's a measure of their collective mentality that they never get bored of it."

        Says the serial AC that never misses a trick to link 'El Reg' + 'Apple' + 'page hits'...

        So what's your excuse?

        1. Anonymous Coward
          Anonymous Coward

          Re: "It's a measure of their collective mentality that they never get bored of it."

          Getting one of the worst offenders to bite?

          Just as purile and stupid

          1. Anonymous Coward
            Anonymous Coward

            Re: "It's a measure of their collective mentality that they never get bored of it."

            "Getting one of the worst offenders to bite?"

            Fair enough, whatever floats your boat my anonymous friend.

  11. This post has been deleted by its author

  12. Scott Mckenzie


    ...... have an Android bank that never gives you your money.

    And has hundreds of branches that are all incompatible with each other and are all quite shite and nowhere near as good as the real banks.

    1. Anonymous Coward
      Anonymous Coward

      Re: Or..

      where some branches will update your balance straight away, some balances will be updated after others or some balances will not updated at all with out changing accounts...

  13. Anonymous Coward

    This is stupid

    I don't care if its Apple or Microsoft (which mobile device I happen to use & enjoy) or others such as Nokia, Motorola and/or Google... Trusting such a company to keep your money is dumb and utterly stupid.

    Because at first these are IT companies, whereas banks usually need to meet totally different requirements. For example; under Dutch law our banks are - required - to join a mutual funds which ensures that the bank customers won't lose their money should the bank for whatever reason suddenly go bankrupt.

    DO you really think IT companies would even bother to setup such safety nets? Worse; that governments can actually enforce them to setup something similar if they do insist on starting "bank like" services ? I have some very serious doubts there.

    Either take your money to a bank or keep it in an old sock. Either way you'll be better off than trusting an (IT / non-financial) company to hold your money.

    1. Gordon 10

      Re: This is stupid

      Idiot. If a company starts a bank it has to comply with the rules of behaviour of a bank, doing exactly what you stated - BY LAW

    2. Lallabalalla

      Re: This is stupid

      Of course they would do that - you just said - if you want to be a bank then that's what you have to do. Doh!

  14. NightFox

    One Step Beyond

    Goodbye Dollar, Pound and Euro. Get ready for the new global currency - the Apple.

    1. amanfromearth

      Re: One Step Beyond

      the iDollar

  15. Code Monkey

    Inevtiable rounded corners comment

    Move into banking, sue all other banks because their debit and credit cards have rounded corners.

    On me way already...

    1. Gordon 10

      Re: Inevtiable rounded corners comment

      One problem Goldfish cards have prior art. Plus they get stuck in machines.

  16. David Barr

    They don't need to go full retail

    Plenty of people dabble in financial services. There's no reason why Apple can't sneak into it by, for example, not using someone else's credit card behind near field communication payments.. just insist appletards use Apple's own 'virtual credit card' and if they want they can then start issuing plastic cards to go with those accounts. They can then start financing people advances so that they can take an upgrade to their next iPhone - if they could cut mobile phone operators out of the picture and just have them do line rental then it's another locked in step of profit for Apple. Once they've got basic consumer lending sorted, they can start taking deposits - regular saving type accounts so that people can save for their next Apple. Once that's done, and most of their hardcore sycophants are using their iPhones to pay for everything then it's not much of a step for them to start doing their bank accounts too.

    The two big problems for them doing mainstream banking are that the profit margins are nowhere near what their other stuff cuts, but the main one is that appletards love showing off their iPhones and feel it's a status symbol. Would an Apple debit card really do the same?

  17. Lars Silver badge


    is a good time to register the iBank and for every i**bank anything to shiver.

  18. Tom Richardson

    If Apple went into banking...

    You'd only be able to use your iCards to pay for products and services that approved of.

  19. Tom 38

    I <3 Apple devices

    But there is no way I would give my money to them. Banks have to find ways of using money deposited with them in order to pay me interest on my deposits, where as Apple have a cash stockpile of $100bn that they can't work out how to invest.

    1. Horned-Devil

      Re: I <3 Apple devices

      You have interest on your deposits? Not the biggest Apple fan but really, does it really look like the current lot have actually done what you have just suggested? As much as Apple are selfish, greedy bastards - it's hardly any different from most of the current lot - at least they have some attempt to address the user experience - when was the last time a bank did that?

  20. Ben Holmes

    Apple iCash. Because your paper money NEEDS four rounded corners.

  21. Anonymous Coward
    Anonymous Coward

    Using iMoney would be more magical and better than normal money.

  22. Anonymous Coward
    Anonymous Coward

    I cant think of anything worse

    "Sorry, you're not allowed to use your money that way, we want you to use it this way instead"

  23. Anonymous Coward
    Anonymous Coward

    Well, we may all be joking abut this, but in the UK, Virgin have already gone into banking.

    Judging by the way Virgin Media is run, I wouldnt trust them with my money!

    1. graeme leggett Silver badge

      More a case of branding

      For example the virgin credit card is a MBNA card.

      1. Matt_payne666

        Re: More a case of branding

        thats old vergin money...

        Virgin Bought out Northern Rock so have a real bank now! although MNBA still do the CC

  24. Nathan 13

    Not a bad idea really

    They could easily charge £20-£30 a month for their accounts, with benefits such as 5% off Apple kit and priority ordering etc

  25. ItsNotMe

    Lemmings all, they are.

    How sad.

    1. JDX Gold badge

      Re: Lemmings all, they are.

      Who are? All this survey is telling us is Apple customers have strong respect for the brand. Buying something from another division of a company you have good history with isn't being a lemming, it's common sense.

      Still seems a very weird idea though. I would say an Apple car would be better than an Apple bank. iCar can innovate electric cars and use tech for self-driving, blah blah blah.

      1. amanfromearth

        Re: Lemmings all, they are.

        Apple car, er no.

        Remember Clive SInclair?

        1. JDX Gold badge

          Re: Lemmings all, they are.

          >>Remember Clive SInclair?

          One thing Apple have a proven record in is reinventing tech we all thought was crap, so that suddenly it's good.

    2. Anonymous Coward

      Re: Lemmings all, they are.

      Says the poster regurgitating the same old same old about 'fanbois'. Irony?

    3. Chad H.

      Re: Lemmings all, they are.

      Yes, lots of lemmings on both the iTard and anti-iTard side.

  26. Armando 123

    Maybe we should look at it this way ...

    Can they be THAT much worse than the (b|w)ankers running the world's financial institutions have been in the last 10 years?

  27. eurobloke

    Samsung Bank

    Well Samsung does financial services...

    Nightfox - one proposed name for the Finnish markka was the omena (apple).

    1. sisk

      Re: Samsung Bank

      I'd trust Samsung for banking before I'd trust Apple. Not to say I'd trust them enough to actually let them handle my banking.

      1. Tom 38

        Re: Samsung Bank

        The chairman of Samsung, Lee Kun-hee, said this last year:

        “Corruption and fraud at Samsung Techwin came to light accidentally but I think it is pervasive in the whole group,” Lee told reporters on Thursday. “This is a growing source of concern for me and I am going to take issue with it.”

        This from someone who has been convicted of tax evasion, had to stand down for 2 years whilst he was investigated for bribery (not proven) and corruption (3 year suspended sentence).

        I'd pass on Bank of Samsung too tbh.

  28. Naughtyhorse


    now the virii writers have something worthwhile chasing with an i in front of it.

    popcorn anyone, this is going to be great

  29. Anonymous Coward
    Anonymous Coward

    Are they nuts?

    Apple has shown it's greed and willingness to shaft anyone they can over and over. From 30% premiums in the app store to encouraging potentially illegal e-book pricing practices, this is a company that clearly only cares about profit margins. Why the hell would anyone trust them?

    1. JDX Gold badge

      Re: Are they nuts?

      It's greedy to make profit?

  30. Bear Features

    Are we just finding random excuses to keep Apple in the news? Guess the iPhad 3 didn't cut it after all then? ;)

  31. amanfromearth

    Who writes this subhead shit?

    "Foxconn-rebranding biz "

    Either the writer of this is a total numpty, or has been tasked by the head Vulture to keep El Reg on the wrong side of Apple PR Dept.

    Neither of those possibilities are in any way a respectable way for proper journalists to operate.

  32. This post has been deleted by its author

  33. Eddy Ito

    So they could perhaps offer financing, like this.

  34. Anonymous Coward
    Anonymous Coward

    worked for BMW

    Once they were sitting on a money pile from early 3 Series profits, they went into financial services to fund their products. Worked for them. BMW hates it when you walk into their dealers and haggle with cash.

    If Apple wants to get a bigger and steadier slice of disposable incomes, isn't this the way to go?

  35. Rampant Spaniel

    Avoiding tax

    This could be a great way for apple to further use their assets abroad without having to pay tax repatriating them. Their warchest in the US is spoken for, they have their old policy of keeping cash for opportunities, investing in the supply chain etc and also the newly announced measures (dividends, buybacks etc). I doubt they would want to touch their US funds much, but those foreign funds, whilst I doubt they are idle, could be used.

    Apple is huge (and given apples market cap is the same ball park as the top 5 mining companies in the world combined, possibly a little overvalued) and they face a huge task in staying where they are. IBM took a long time to find itself again, I can't see them disappearing. but big companies have hit serious trouble before. Something like this could make or break them.

    They probably have many ideas about what to do with their stockpile, I'm sure a banking would have been mentioned at some point. As mentioned car makers made good money on financing. Apple I believe uses Barclays for financing their B2C sales, they could start by moving that inhouse, then credit cards would probably be the next logical step then a 'savings bank' (to build up US based deposits) before moving into a brick and mortar full service bank.

  36. Ascylto
    Big Brother


    OR ...

    They could get into ballooning.

    They could get into trains.

    They could get into airways.

    They could get into speedboats.

    They could get into supply of telecoms ...

    OR ...

    They could just carry on doing what they do well.

  37. Delbert
    Big Brother

    certifiable users

    We are all shredding our documents hiding PIN's and setting privacy filters so why on gods earth would anybody outside of an asylum let a giant unaccountable corporation in a foreign land have access to our money in addition to , all our history, personal details, browsing, searching blogging , access to website purchasing information and location? Google are trying it though they have no published plans to become a bank ....yet! I've spent twenty minutes disabling features on a phone and they still managed to pass all my contact details through their server time has come to say enough unless you already have an apple/google barcode tattooed on the back of your neck.

    1. JDX Gold badge

      Re: certifiable users

      Because if they become a bank, they won't be a "giant unaccountable corporation", they'll be a bank and subject to very strict international regulation.

  38. BoxedSet

    Imagine the high-resolution touch screen cashpoints available to appletards, tissue dispenser next to it! Queues a mile long at the announcement of the Icashpoint 4.....

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