Wells Fargo wants to put a banking application into Google Glass, but early tests show that such an app won’t gain traction, even if there’s a large amount of interest revolving the device.
- Starting Monday, PNC Bank’s popular Virtual Wallet account will carry a $7 monthly fee (previously no monthly fee), with a set of fee waiver requirements. Additionally, the bank will increase the monthly service fees for its Performance Checking and Foundation Checking accounts from $10 to $15 and $5 to $7, respectively. The changes were announced earlier in July.
- On Monday, American Airlines and US Airways complete their merger to create the largest U.S.-based airline. Although the changes to airline operations may take years, American and US Airways will begin combining frequent flyer programs as early as January. There is no word on how the merger on will affect the credit card programs of the two merging companies.
- Barclays launched a new savings account, called Dream Account, that rewards customers for depositing funds and not touching them for a period of time. As of Dec. 8, 2013, the account has a 0.95% APY, which is higher than most savings accounts currently on the market. However, the Dream Account only allows a maximum monthly deposit of $1,000. Customers can earn bonus interest when they make consecutive deposits in the previous six months and/or when there are no withdrawals in the previous six months.
- Wells Fargo has been testing a banking application internally for the Google Glass device and the bank found that there is very little adoption among testers, despite the great interest in the new gadget. The major issue was the lack of viewing real estate within Google Glass, which made it difficult to display and consume financial information.
- Beginning this weekend, consumers with certain cash back credit cards will be able to enroll in bonus cash back categories for the upcoming quarter (Q1 2014). For cards such as Chase Freedom, Discover it and Citi Dividend, cardholders must sign up to get 5% cash back on specific purchases.