Google enters US Banking Markets

Seems the Great Google is subject to FOMO too, behind recent PayPal, Venmo and Squares entry into the Banking realm.   The 800-pound giant will allow opening checking accounts, paying friends and manage budgets with the release of its new "Google Pay App". Additionally the will be offering a direct competitive offering to Venmo and and Squares cash app as they will support a Peer-to-Peer (P2P) payments. 

Plex Bank account offerings (Checking or Savings) 

No monthly minimums, no monthly fees, no overdraft charges and users can request a Debit card. Hmm, sounds like a Tech company offering that is known as a piece of fruit.   The budget tools can help manage subscriptions too!  Google has created its own rewards program for these accounts too. 

When does this happen?  Early in 2021 it will allow banking realm.

I can only assume that Google will use this springboard to start offering Crypto to consumers too. Just my 2 cents cost adjusted for inflation.

Downsides - How much privacy will you really have?  Will they pinpoint you spend $ on pizza every Wednesday night?

Summary - perhaps they can reach a huge % of the unbanked! I would use with caution!