Google partners with BBVA and 10 other banks in the US

Google partners with BBVA and 10 other banks in the US

The technology giant Google has announced an alliance with 11 banks in the United States, including BBVA, to launch a bank account service through its payment application, Google Pay, the company announced in a statement.

In this way, starting next year, Google Pay users in the United States will have access to a section called Google Plex, a digital and mobile bank.

Plex accounts will not be owned by Google, but will be offered by 11 banks: BBVA, Citi, Stanford FCU, Seattle Bank, The Harbor Bank of Maryland, State Employees FCU, BankMobile, BMO Harris, First Independence Bank, GreenDot and Coastal Community Bank.

Unlike Apple, which entered financial services with a credit card from Goldman Sachs, Google will offer checking and savings accounts. These accounts will have no commission, will not charge clients for account overdrafts, and have no access requirements.

The move comes at a time when BBVA has decided to sell its division in the United States to PNC Financial for a price of approximately $ 11.6 billion (9.7 billion euros) in cash, the entity announced this week.