Google teams with Citigroup bank to offer checking accounts from 2020

Google Wants To Be Your Bank Account

Google plans to offer personal checking accounts next year

Google Pay, which already has tens of millions of users around the world, is already popular in India. Big banks and their lobbyists in Washington, DC, may also be an obstacle if they fear losing business. Rather, it's partnering with Citigroup and a San Francisco University credit union to offer the accounts.

The details of the accounts have not been finalized.

This announcement also comes at a time when consumers are growing increasingly wary of how massive tech companies are handling their data.

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Instead, Google would just act like a middleman by offering banking services to consumers in the usual Google way. The tech giant hasn't decided whether checking accounts will charge a fee, Sengupta told the Journal. Despite assuring the public and governments that customer data will be kept secure and not be used for advertising, many regulators are still pushing back on the creation of the asset.

Earlier this year, Apple announced the Apple Card, the first credit card issued by the tech giant. Facebook is working on a cryptocurrency called Libre that it hopes could supplant the use of dollars for online purchases, something Congress and central bankers have said is a cause for concern.

The Google checking account wouldn't actually be run by Google.

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Michael Siegel, an American tobacco control expert and public health researcher was very critical of the CDC's approach. He also said the White House would release a "big paper" soon "talking about the age" and "talking about the flavors".


Google plans to add checking accounts from Citigroup and a credit union to its Google Pay digital wallet in 2020, the tech company said Wednesday. Google is now facing an anti-trust review by the Justice Department, as well as general concern from Washington and consumers alike that the company has too much power to stifle competitors and collect and profit off of the personal data of users without any real oversight. But just because Google isn't selling the data doesn't mean it isn't collecting and examining it.

For Google, the quest for the trove of data associated with checking accounts and financial products is another step in its push to collect information on all aspects of people's lives.

A Google spokesman said its smart checking accounts will let customers benefit from "useful insights and budgeting tools, while keeping their money in an FDIC or NCUA-insured account".

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