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Posted: March 05, 2018

Amazon considers offering checking account

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Amazon considers offering checking account
Boxes move along a conveyor belt at an Amazon fulfillment center on January 20, 2015 in Tracy, California. (Photo by Justin Sullivan/Getty Images)

By KIRO7.com

Officials with e-commerce giant Amazon are in talks with big banks to build a checking account-like product, according to a report from The Wall Street Journal.

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The newspaper reported Monday that the Seattle-based company is working on a product that would appeal to younger customers and those without bank accounts. Among the companies Amazon officials are speaking with is JP Morgan Chase & Co., according to the newspaper.

People familiar with the matter, who were not identified, told The Wall Street Journal that the effort is still in its early stages and may not come to fruition.

Whatever its final form, the initiative wouldn't involve Amazon becoming a bank, the people added.

The Cox Media Group National Content Desk contributed to this report.


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