Home » Money

Amazon is coming for your checking account next

06 March, 2018, 01:46 | Author: Melinda Barton
  • Report Amazon Researching A Banking Product

The story was also scant on details about what exactly Amazon might offer beyond checking accounts. And the WSJ's report seems to confirm predictions that Amazon will likely focus on the distribution, rather than the manufacture, of financial products.

Amazon is said to be in talks with JPMorgan Chase, Capital One and other banks and financial services firms about setting up an Amazon-branded checking account for its customers, according to The Wall Street Journal.

Amazon is considering partnering with Wall Street's top banks in an effort to build a "checking-account-like" product for customers, according to a report.

Reps from Amazon and JPMorgan did not immediately respond to requests to comment.

Nonetheless, Amazon apparently already has a fairly clear vision of what it hopes to achieve with the proposed service.

Before you sell all your bank stocks.

With Amazon's host of customers and impressive market value, some have wondered whether the e-commerce giant would eventually seek to disrupt the banking system.

"Pricing is a concern: if banks are cut out of the primary customer relationship, can they set prices high enough to make a return?" 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.

The company is reportedly in talks with big banks like JPMorgan Chase about partnering on the potential product.



Shopian: Army kill 3 civilians, dub them as OGWs
The Army men were fired upon and they retaliated, in which a terrorist was killed, the official said. All the three were locals and residents of Trenz, Pinjoora and Imam Sahib areas of Shopian .

Ray Parlour backs Liverpool and Tottenham to finish in top four
However, Chelsea No. 1 Thibaut Courtois insists they have the quality to rise up from fifth to grab a Champions League spot. With 72 points on the board, City only need to win five of their last eleven games to claim a third Premier League crown.

Sensational Indian golfer Shubhankar Sharma takes lead on WGC debut
Sharma started the third round solidly with three birdies in the first six holes but was a mediocre one-over the rest of the way. Korda and Kang finished in a four-way tie for second at 16-under, alongside Jenny Shin (65) and Brooke Henderson (67).

Uber, Lyft drivers actually earn less than minimum wage, MIT survey suggests
A spokesperson for Uber told The Guardian the study was "deeply flawed" and said they'd reached out to the authors. It was only previous year that Uber introduced the option to tip drivers into its app for customers.

Are there actually 5 types of diabetes?
Another group facing serious complications was composed of relatively young, insulin-deficient patients. They discovered one autoimmune type of diabetes and an additional four subtypes of type 2 diabetes .

Unidentified man wounded in shooting near White House
Police have sealed off traffic on streets near the White House, and Pennsylvania Avenue has been shut to pedestrians. The president was set to return to Washington later Saturday to attend the annual Gridiron Club media dinner.

Tiger Woods commits to Valspar Championship, Arnold Palmer Invitational
This will be the first Valspar Championship appearance for Woods. "It means keep building my body, keep building towards April". Woods has made three starts in the 2017-18 PGA TOUR season, including a tie for 12th in his last start at The Honda Classic.

Uber Health lets providers schedule rides for patients
Whorley, who has been driving for Uber for more than two years, is more skeptical about picking up people without smartphones. Uber already has over 100 healthcare organizations on the platform , thanks to a private beta that began last summer.

Rose Dream Big At $10m WGC-Mexico Championship
Spanish star Jon Rahm had six birdies and two bogeys for a 67 to be outright seventh at four under heading into the second round. I didn't want to come here and just be happy to be part of it and make up the numbers.

Former recruiter sues Google, says white and Asian candidates were 'purged'
Wilberg also alleged that late a year ago , management deleted emails and other digital records of diversity requirements. It is not the first time the company is criticized over its diversity practices .