The financial technology firm Chime said customers can now deposit cash at more than 8,500 Walgreens Boots Alliance locations, another example of nonbanks pushing deeper into consumer finance.
Users of Chime accounts won’t have to pay any fees for the service, the San Francisco-based company said in a statement Monday. The firm, which partners with banks to offer checking accounts and other financial services, said about 78% of the U.S. population lives near a Walgreens location.
“We know having access to a physical location for cash deposits is important to our members, and until recently, the options have been limited,” Chime co-founder and Chief Executive Chris Britt said in the statement.
Other nonbanks looking to expand into consumer finance include Walmart. The giant retailer has been working to launch its own fintech to provide customers with financial services, after having submitted an application for a banking charter that it
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