Business

Amazon is in talks to launch checking accounts

Amazon is in talks to launch checking accounts”

In addition, almost 50 percent would use a savings account if Amazon were to offer one to its clients.

Collaboration, not disruption: Amazon does not appear to want to compete against the banking industry's titans. The strategy would help Amazon lower fees it pays to financial firms and give it a bigger window into customers' income and spending habits, according to the report. Amazon.com didn't immediately return a request for comment. It's unclear if the product would allow customers to write checks, pay bills or access an ATM. The WSJ also noted that Amazon is actually quite cozy with both JPMorgan and Capital One. This includes buying up Whole Foods previous year and recent plans to offer its own shipping service, which would reduce its need for United Parcel Service, Inc. They said the plan is in too early a stage to determine if it will come to fruition.

JPMorgan Chase is one of the big banks that Amazon is said to be partnering with, a sign of the growing relationship between Bezos and JPMorgan CEO Jamie Dimon following the insurance announcement.

It has always been speculated that Amazon would eventually make its way into the banking sector, and a recent survey indicates that it could gain some traction by taking that step. Some consumers may not consider an Amazon checking account to be so different from another service already offered by the retail company - its Amazon-branded credit cards. Scandal ridden Wells Farg is still one of Berkshire Hathaway's top holdings.



Like this

Latest


06 March 2018
Putin: Russia has thwarted hundreds of foreign spies
Kelly, who worked as a corporate lawyer before pursuing a career in journalism, said she did have a law degree. And the U.S. has extradition treaties with more than 100 countries - including Russian Federation .

05 March 2018
'Put That Impeachment Down!' Trump Helps Himself to Teasing at Gridiron Dinner
In his first Gridiron appearance, Trump assured the audience that "nobody does self-deprecating humor better than I do". And I really try to tell her that you can't be a true populist unless you're worth at least ten billion dollars.

04 March 2018
Venezuela Candidates Agree to May 20 Elections, Respect Results
The new agreement calls on UN Secretary-General Antonio Guterres to put together an observer mission to monitor the elections . Maduro also lifted Venezuelans' food ticket allowance 67 percent to 915,000 bolivars a month, the equivalent of $4.29.

04 March 2018
UFC 222 Fight Card: Betting Odds, Start Time For Cyborg vs. Kunitskaya
The 32-year-old's victory over Holm marked the first time she has gone the distance during her current nine-fight win streak . Cyborg is now the biggest betting favourite in UFC history.

03 March 2018
Deadly Shooting at Central Michigan University
Police called this a domestic shooting and stressed the campus was safe as they continued to search for their suspect . SHOOTING UPDATE: 10:43 a.m.Central Michigan University police confirm two individuals were fatally shot at Campbell...

03 March 2018
YouTube sued for limiting white, Asian male hires for diversity purposes
It is important to note that as of 2017 , 69% of Google's total workforce was male, a slight decrease from 70% in 2014 . The lawsuit was filed in a California court by Arne Wilberg , who worked at Google and YouTube for about nine years.

02 March 2018
Scans reveal bad news for injured Neymar
Neymar , 26, was injured and had to be stretchered off during PSG's Sunday's Ligue 1 win over Marseille. Metatarsal injuries are common in soccer and can sometimes lead to a lengthy absence from the pitch.

01 March 2018
California Democratic Party doesn't endorse Feinstein re-election bid
It means neither candidate will receive a boost of campaign money from the party heading into the June primary. However, de Leon also failed to attain the 60% support needed to secure the official endorsement of the party.

25 February 2018
Tiger Woods Shoots Even Par in 1st Round of 2018 Honda Classic
The 14-time major champion made birdies on holes four and nine after an early bogey, but he found water at the par-three 15th. Woods has now made the cut in two of his first three tournaments of the year. "And they're hard golf shots".

24 February 2018
Met Office Forecasts Polar Vortex Will Batter Britain With Siberian Snowfall
Some places, particularly along exposed coastal areas, will also see blustery conditions and wintry showers of sleet and hail. It will be very cold on Monday night with a severe frost and the risk of snow showers along northern and eastern coasts.



Recommended