Amazon Could Soon Offer Checking Accounts

Amazon Could Soon Offer Checking Accounts

Amazon Could Soon Offer Checking Accounts in talks with JPMorgan Chase & Co. and Capital One Financial Corp. about offering the tech giant's customers a product similar to a checking account, the Wall Street Journal reported.

The checking-like account would be aimed at younger customers and those without bank accounts, according to The Wall Street Journal.

The discussions are early enough, though, that it's still unclear whether an Amazon-branded checking account would ever launch, the report said. Amazon was not immediately available for comment.

Bank stocks barely budged Monday on the reports.

Joyce now says baby's paternity 'nobody's business'
She said she received no response to that specific question. 'It is causing them more and more damage all the time'. The Daily Telegraph reports Mr Joyce declined to participate in an interview prior to the story's publication.

Secret Service: Man Shoots Himself Near White House
The man who caused the White House to go on lockdown today after firing shots near the north fence has died, according to reports. The Secret Service and D.C. police have identified the man, but his name is being withheld until next of kin is notified.

Senate elections 2018: The number game
They are not all elected at the same time: rather, half are elected at one time, and the other half three years later. A total of 135 candidates, which includes 25 women, are contesting the 52 senate seats.

One problem with, Inc.'s plans are restrictions it may face from its rivals and legislators. It said Amazon Pay allows consumers to pay for products on third-party sites without reloading their credit card information.

The company is already the most dominant force in online retail - and arguably retail in general. Whether it's logistics, healthcare, or finance, Amazon's answer to inefficiencies in the marketplace is just to do the same thing, but cheaper.

And of course this would nearly invariably be integrated with Amazon Pay which Bezos is already trying to push at brick-and-mortar retailers starting, of course, with Whole Foods, which he now owns. Offloading key tasks to a bank could help Amazon avoid some of the strict regulations imposed on financial service providers, which would ease go-to-market efforts.

Buffett also owns big stakes in Bank of America, American Express, Bank of New York Mellon and Goldman Sachs.

Related news