Google enters banking; will offer checking accounts starting next year

by John Wesley Reid · Nov 13th, 2019 2:10 pm

Last Updated Nov 20th, 2019 at 3:05 pm

Google is reportedly getting into the banking business and will be offering check accounts beginning next year, according to a source familiar with their operations.

The accounts will be run through Citigroup and Stanford Federal Credit Union.

Other banking attempts by big tech companies such as Apple and Facebook faced challenges when consumers feared irresponsible sharing of personal data. Caesar Sengupta, an executive with Google said they have no intention of sharing consumer data.

“If we can help more people do more stuff in a digital way online, it’s good for the internet and good for us,” he said.

Read more: Facebook launches new payment service


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