💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Bloomberg: Amazon plans checking account product for teens

Published 03/29/2018, 10:35 AM
© Reuters.  Bloomberg: Amazon plans checking account product for teens
JPM
-
AMZN
-
  • Amazon (NASDAQ:AMZN) wants to create a checking account product aimed at teenagers, according to Bloomberg sources.
  • The tech giant is in talks with banks including JPMorgan (NYSE:JPM) and Capital One to create the product.
  • Amazon previously launched Amazon Cash, a debit card alternative that let teens drop off money at participating drugstores or retailers. The money would go into an Amazon wallet for use online. But the process isn’t as smooth as Amazon would like.
  • Minors typically aren’t able to sign up for a bank account without the permission of a parent and the checking account has service charges and overdraft fees. Amazon hopes to offer a better experience.
  • Amazon shares are down 2.2% on another rough day of President Trump stories.
  • Previously: President Trump tweets about Amazon; shares -0.4% (March 29)
  • Now read: Will Weak Guidance Sink Target?


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.