Would You Bank With Apple or Google?
- Thread starter StillHustlin
- Start date
I bank with chase and my card won't overdraft because it'll block the transaction if there's no money there. I have free checking and my savings is free because I have it setup to transfer $25 every month from checking. The only fees I have to worry about is $5 for money orders which is lame, but I trust them to have my back more than western union where you have to mail shit and call around and waste weeks and not get your money back and if you do they take a chunk. Also I've never had a problem finding chase ATM's which are free. I like chase.
All these credit unions will be gone in ten years then where are you going to go?
All these credit unions will be gone in ten years then where are you going to go?
LOOKS LIKE AMAZON IS THE ANSWER
Amazon Checking-Account Plan Sees Banks as Partner, Not Prey - Bloomberg
Amazon Checking-Account Plan Sees Banks as Partner, Not Prey
By , , and
March 5, 2018, 6:03 AM MST
Updated on March 5, 2018, 10:39 AM MST
JPMorgan, Capital One vying for company’s new banking venture
Strategy would give bigger window into clients’ finances
Amazon May Be Eyeing Checking-Account Venture
Banks have been warily watching Amazon.com Inc. for signs it would threaten their world. The tech giant’s latest move looks more like an opportunity -- at least for one of them.
A proposal to start offering a product similar to checking accounts is “for now not showing any signs of disrupting the industry,” Brian Foran, an analyst at Autonomous Research, said in a note to clients Monday. “While the ‘Amazon effect’ has dictated trading in several sectors, for banks it seems a much tamer story.”
Amazon is in talks with JPMorgan Chase & Co. and Capital One Financial Corp. about the product, people familiar with the matter said Monday. The targets are millennial consumers, the people said, asking not to be identified because the discussions are private. The strategy could help Amazon lower fees it pays to financial firms and give it a bigger window into customers’ income and spending habits. The Wall Street Journal reported the talks earlier Monday.
Amazon Checking-Account Plan Sees Banks as Partner, Not Prey - Bloomberg
Amazon Checking-Account Plan Sees Banks as Partner, Not Prey
By , , and
March 5, 2018, 6:03 AM MST
Updated on March 5, 2018, 10:39 AM MST
JPMorgan, Capital One vying for company’s new banking venture
Strategy would give bigger window into clients’ finances
Amazon May Be Eyeing Checking-Account Venture
Banks have been warily watching Amazon.com Inc. for signs it would threaten their world. The tech giant’s latest move looks more like an opportunity -- at least for one of them.
A proposal to start offering a product similar to checking accounts is “for now not showing any signs of disrupting the industry,” Brian Foran, an analyst at Autonomous Research, said in a note to clients Monday. “While the ‘Amazon effect’ has dictated trading in several sectors, for banks it seems a much tamer story.”
Amazon is in talks with JPMorgan Chase & Co. and Capital One Financial Corp. about the product, people familiar with the matter said Monday. The targets are millennial consumers, the people said, asking not to be identified because the discussions are private. The strategy could help Amazon lower fees it pays to financial firms and give it a bigger window into customers’ income and spending habits. The Wall Street Journal reported the talks earlier Monday.
I'm going to not treat you like a drunken idiot for a moment and treat you like a human, let's see how long it can last......what company doesn't want to be a global company? Unless a company's only intention is to remain community based, almost everyone ideally would want to grow their brand into a global player. I disagree with your other assertion as neither is part of an Illuminati- that phrase is used by the profane (ignorant) who don't know what they are talking about. Now, are those corporations non-human machines that survive and grow their corporate structure and profits through removing what's best for humanity and for our planet? Sure, that's the nature of the beast. What cell phone do you own, what cell service do you use, what computers do you own, what internet service do you have.......? See where I'm going with this..... You continue to say left field things yet you support the same things you claim to be against....
Your bank is a credit union but you still spend your money at their for profit corporations.... So you are feeding the beast as well.... Apple is not owned by China, Apple has business arrangements with China. We are in a global economy. The US is also just a corporation that will sell to the highest bidder. You don't even have to be a US Citizen to own land in the US.... I don't think you are comprehending the rules of the game.
CEO of New York's Oldest Credit Union Faces Fraud and Embezzlement Charges - NBC New York
- The CEO and president of the oldest New York credit union is facing charges in connection to embezzling money
- Kam Wong, allegedly engaged in a long-running scheme to obtain money that he wasn’t entitled to from the credit union
- Wong allegedly spent about $3.55 million of the money he embezzled on New York State Lottery tickets, authorities say
Apple and Google would have to be FDIC insured just like Chase, Wells Fargo, BofA, Citibank etc. anyway. If their banking branch folds, just like any other bank you'll have to fight to get your money back from insurance.
The first question I would have is, Google's parent company Alphabet is worth $600 billion, how much of that and what resources do they put towards their banking branch? Apple is worth a little more at $900 billion, but once again, what resources do they put towards banking?
Banking giants like Chase, Wells Fargo, BofA, Citibank etc. are worth a few trillion each. I just googled my bank BBVA Compass and they're only worth $85 billion and seem to do fine, but have a small scope across the Southwest in places like Arizona and Texas, they're not national. So I guess it depends on the reach Google and Apple would be trying to attain with their banking branch whether or not I would want to bank with them. If they over extend without the assets behind it, they could fail. If they keep it a small niche part of their company and don't try and take over the banking world, it could be much better for them.
Who knows though, Google could take over the banking world too and be worth trillions in a few years. They started as a tiny search engine and now look at them.
It all really depends on if you trust the FDIC to give you your money back, more than trusting Google or Apple themselves.
The first question I would have is, Google's parent company Alphabet is worth $600 billion, how much of that and what resources do they put towards their banking branch? Apple is worth a little more at $900 billion, but once again, what resources do they put towards banking?
Banking giants like Chase, Wells Fargo, BofA, Citibank etc. are worth a few trillion each. I just googled my bank BBVA Compass and they're only worth $85 billion and seem to do fine, but have a small scope across the Southwest in places like Arizona and Texas, they're not national. So I guess it depends on the reach Google and Apple would be trying to attain with their banking branch whether or not I would want to bank with them. If they over extend without the assets behind it, they could fail. If they keep it a small niche part of their company and don't try and take over the banking world, it could be much better for them.
Who knows though, Google could take over the banking world too and be worth trillions in a few years. They started as a tiny search engine and now look at them.
It all really depends on if you trust the FDIC to give you your money back, more than trusting Google or Apple themselves.
These companies have all tried to get into banking and they all eventually realize it is much harder than they think.
Wal-Mart has had a “checking account” for years but it hasn’t got a whole lot of traction.
FinTech will eventually become more of a player in tradition Banking - but only through partnerships.
Wal-Mart has had a “checking account” for years but it hasn’t got a whole lot of traction.
FinTech will eventually become more of a player in tradition Banking - but only through partnerships.
By 2025, Amazon will be your Bank. – Michael K. Spencer – Medium
ts to be your Banker Soon
According to a LinkedIn storyline, now Amazon wants to handle your checking account.
The Cloud-Retail-Tech empire is in talks with JPMorgan and other big banks to create “a checking-account like product” aimed at younger customers and those without bank accounts, The Wall Street Journal reports (Paywall).
Amazon will Revolutionize Data-based Banking Services
The newspaper, citing anonymous sources, said such a product could reduce the fees that Amazon pays to banks and payments processors now, while yielding yet more data on customer incomes and spending habits.
Wired goes on to suggest this could have something to do with new regulations. Changes in those regulations could mean the tech giants will soon be able to access customers’ bank account data, posing a challenge to the old-school banking system. With data based services offering personalized solutions and voice-activated Alexa and Google purchasing, the entire way we participate in consumerism is changing.
Amazon Partnering with Wall Street
Amazon understands that to build the future, it needs to facilitate how young people opt-in to Prime and it’s arena of consumer convenience fulfillment. Of course banking and financial services will be part of that play. The first step is to strengthen existing partnerships with the likes of J.P. Morgan and other banks. But that’s not the end-game!
Amazon is in early-stage talks to create a checking-account-like product.
With the likes of Apple, Google, Uber, Lyft and Amazon becoming more implicated in Healthcare, it’s only a matter of time before the leading tech companies get involved in banking and financial services, and it could disrupt the financial services industry forever. Writing over 100 articles on Amazon, I’ve often talked about how banking was one of the main ways Amazon will make money in the future. It’s likely by 2025, many of us will have accounts with them that will be more customer-centric.
Big Tech will Continue to Disrupt Legacy Industries and Outdated Verticals
Before cryptocurrencies and altcoins can impact the mainstream, Tech companies such as Tencent, Huawei, Alibaba, Didi, Samsung (THADS) of Asia, and (GAFAM) Google, Apple, Facebook, Amazon and Microsoft of America, will become more implicated in the future of banking, investment and all financial services.
Tencent and Alibaba already own the entire marketshare of payments with the virtual disappearance of cash in China. The European Commission’s Second Payment Services Directive (PSD2), became law in January 2018. Facebook may have to invent a cryptocurrency but Amazon has much more potential to disrupt the future of banking.
Amazon’s Partnership with J.P. Morgan a Sign of Things to Come
Amazon’s current play however is not to become a bank. The final product it’s currently working on, will include an Amazon-branded account. Amazon wants to build convenience, not take on its friends just quite yet.
Amazon is considering partnering with Wall Street’s top banks in an effort to build a “checking-account-like” product for customers.
There’s no doubt in the end, Amazon will likely be the one bank for its everything store and ecosystem of value that is Amazon Prime. It could end up happening very fast. If it’s foray into healthcare is successful, it will mean it can start taking on financial services and finally the future of education. Not bad, for a company mainstream publishers still refer to as an “E-retailer”.
Amazon can in this way artificially boost its stock by the power of its brand name and partnerships. The era of our financial health and payment infrastructure becoming totally transparent to Big Tech is worrisome and inevitable. Personalized AI will eventually help us manage all of our assets and we’ll choose the smartest solution that cuts out the middle man, chances are it will be an Amazon banking solution.
ts to be your Banker Soon
According to a LinkedIn storyline, now Amazon wants to handle your checking account.
The Cloud-Retail-Tech empire is in talks with JPMorgan and other big banks to create “a checking-account like product” aimed at younger customers and those without bank accounts, The Wall Street Journal reports (Paywall).
Amazon will Revolutionize Data-based Banking Services
The newspaper, citing anonymous sources, said such a product could reduce the fees that Amazon pays to banks and payments processors now, while yielding yet more data on customer incomes and spending habits.
Wired goes on to suggest this could have something to do with new regulations. Changes in those regulations could mean the tech giants will soon be able to access customers’ bank account data, posing a challenge to the old-school banking system. With data based services offering personalized solutions and voice-activated Alexa and Google purchasing, the entire way we participate in consumerism is changing.
Amazon Partnering with Wall Street
Amazon understands that to build the future, it needs to facilitate how young people opt-in to Prime and it’s arena of consumer convenience fulfillment. Of course banking and financial services will be part of that play. The first step is to strengthen existing partnerships with the likes of J.P. Morgan and other banks. But that’s not the end-game!
Amazon is in early-stage talks to create a checking-account-like product.
With the likes of Apple, Google, Uber, Lyft and Amazon becoming more implicated in Healthcare, it’s only a matter of time before the leading tech companies get involved in banking and financial services, and it could disrupt the financial services industry forever. Writing over 100 articles on Amazon, I’ve often talked about how banking was one of the main ways Amazon will make money in the future. It’s likely by 2025, many of us will have accounts with them that will be more customer-centric.
Big Tech will Continue to Disrupt Legacy Industries and Outdated Verticals
Before cryptocurrencies and altcoins can impact the mainstream, Tech companies such as Tencent, Huawei, Alibaba, Didi, Samsung (THADS) of Asia, and (GAFAM) Google, Apple, Facebook, Amazon and Microsoft of America, will become more implicated in the future of banking, investment and all financial services.
Tencent and Alibaba already own the entire marketshare of payments with the virtual disappearance of cash in China. The European Commission’s Second Payment Services Directive (PSD2), became law in January 2018. Facebook may have to invent a cryptocurrency but Amazon has much more potential to disrupt the future of banking.
Amazon’s Partnership with J.P. Morgan a Sign of Things to Come
Amazon’s current play however is not to become a bank. The final product it’s currently working on, will include an Amazon-branded account. Amazon wants to build convenience, not take on its friends just quite yet.
Amazon is considering partnering with Wall Street’s top banks in an effort to build a “checking-account-like” product for customers.
There’s no doubt in the end, Amazon will likely be the one bank for its everything store and ecosystem of value that is Amazon Prime. It could end up happening very fast. If it’s foray into healthcare is successful, it will mean it can start taking on financial services and finally the future of education. Not bad, for a company mainstream publishers still refer to as an “E-retailer”.
Amazon can in this way artificially boost its stock by the power of its brand name and partnerships. The era of our financial health and payment infrastructure becoming totally transparent to Big Tech is worrisome and inevitable. Personalized AI will eventually help us manage all of our assets and we’ll choose the smartest solution that cuts out the middle man, chances are it will be an Amazon banking solution.
Buy your groceries from your local Amazon grocery store (Whole Foods, Amazon Go) and pay with your Amazon bank account, linked to your Apple pay on your Apple iPhone or your Google wallet on your Google Android.
Then go on your Apple iPhone or Google Android device and click on your Amazon Prime app and use that same Amazon bank account to buy all of your household goods and electronics and get it shipped directly to your door.
Then go on your Apple iPhone or Google Android device and click on your Amazon Prime app and use that same Amazon bank account to buy all of your household goods and electronics and get it shipped directly to your door.