Peter Rudegeair

speaker

756 appearances 12 recordings 1 series first heard Nov 2017 last heard May 2021

Peter Rudegeair’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Rush of Refund Requests Slows Cash Flow to Consumers · 15 Jun 2020 podcast

So they have to protect themselves, but they also say they need to protect those consumers to make sure that they have the wherewithal to get their money back if a refund is necessary. matched

WSJ Your Money Briefing · Google to Offer Checking Accounts · 14 Nov 2019 podcast

There's actually two banks and credit unions behind the scene here.

One is Citigroup, one of the biggest banks in the country.

The other is at the other end of the spectrum, Stanford Federal Credit Union, a tiny lender in Google's backyard in Palo Alto.

In this country, only banks and credit unions can offer insured deposits.

So if you want to keep your money and have it insured by the FDIC or if you're a credit union in the NCUA, it needs to be held at one of those institutions.

So Citigroup and Stanford are kind of that receptacle for the deposits that are being held at Google.

But in Google's mind, they want to kind of leverage the brand strength some of these institutions have.

So it's not going to be a Google account.

It might be a Citi account by Google.

It might just be a Citi account that you access through Google Play.

But those banks kind of perform a necessary role in this partnership.

If it's a checking account or a savings account, right, only banks can provide those services or credit unions.

So you'll access it through Google Pay, which is the Google Wallet.

If you're an Android phone user or a Chrome user, you know, some of you might already have your credit card details stored there.

Starting next year, you'll be able to see some prompts and invitations to open a checking account at those institutions.

And from there, you can do just like you can do with most other checking accounts online.

deposit your weekly or monthly paycheck, pay bills, no word yet on whether there's actually a physical checkbook coming with them.

And a lot of the other details will still be ironed out about how it will look and some of the fees.

But basically, it'll look and feel like a lot of other checking accounts out there, but accessed through your phone and through Google Pay specifically.

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