Checking

A rising number of check fraud cases involving counterfeit checks is compounding the already-serious problem of fraud in one of the oldest payment methods widely available.

Challenger banks like Chime and Dave have been helping customers avoid overdraft fees for years. As traditional banks start to do the same, the fintechs say they still offer consumers a better deal.

The Arkansas bank built the mobile-first Coin Checking to suit Generation Z and young millennials. A phone-friendly app and simplified sign-up process are among its selling points.

The joint checking account is similar to its individual checking feature, launched last April, and will target millennial couples in particular.

The Cities for Financial Empowerment Fund, a nonprofit that seeks to improve financial stability of low- and moderate-income households, validated the account under its Bank On initiative.

Goldman Sachs will work with the digital-payments upstart Marqeta on offering checking accounts for Main Street consumers.

PayPal’s Venmo has launched a new “Cash a Check” feature on its mobile app to some customers. The offering is made in partnership with Ingo Money and its parent, First Century Bank.

Citigroup looked to the success of Asian super-apps like Ant Financial and Paytm while developing its new checking-account offering with Google.

Banks have made great strides in applying digital technology to the world of checks, but companies that receive checks still have to physically receive them in order to digitize them, says Santander's Greg Murray.