Not only has Google released a completely new Google Pay app for US users on both iPhone and Android, but they’ve also launched a new mobile banking service. It’s called Plex and offers online bank accounts with any of the 11 partner banks and credit unions, with no minimum balance requirements, overdrafts or monthly fees.
That aside, the main benefit is that Google Pay can access your banking transactions, which means you can get AI-powered financial insights if you’re comfortable with Google having access to that data.
Plex isn’t live yet, but you can sign up for the waiting list in the new Google Pay app. You will then be notified as soon as a Plex account can be registered.
Overview of Plex accounts
- Opening an account is quick and hassle-free.
- No monthly account fees, no minimum balance requirements and no overdraft.
- An intuitive approach to goal planning with AI-driven insights is designed to help customers save more, set savings goals and become financially healthier over time.
- Direct digital Mastercard debit card and a physical contactless debit card upon request.
- Real-time balance, transaction and purchase alerts, as well as the ability to dispute transactions.
- Seamless P2P capabilities for one-time, recurring and group payments.
- Access to Citi̵
Step 1: Install the new Google Pay app
Whether you are an old user or a new convert, you must download the new Google Pay app. This is actually a separate app listing from the old Google Pay. Google had previously made this app available in India under the name Tez, but now it’s going global using the name Google Pay, and the old app is starting to disappear.
Go to your respective app repository and install it. Sign in with your Google account and follow the onscreen instructions to get started.
Step 2: Open the Insights tab
The app will open to it Pay tab standard. On the left is Explore, where you can scan products and QR codes and find reward offers. On the right is Insights, where you can link an existing bank account to get an analysis of your spending habits. The Insights tab is where you want to be for this task, so tap it.
Step 3: Register for the waiting list
On the In sight tab, scroll down to find the Plex account menu. Tap “Join a waiting list for a Plex account” to continue.
On the Plex page, you will find options to get on the waiting list for a Plex account. Only Citi and Stanford Federal Credit Union (FCU) are currently available, but more will come in the future.
Select the account (s) you are interested in and then tap “Join” to complete the process. Tap the “X” at the top left of the screen to return to it Insights tab, where you will see that your waiting list status has been updated. Going forward, you’ll receive a notification from the Google Pay app when a Plex account becomes available, which you can then tap to start the sign-up process.
Keep your connection safe without a monthly bill. Get a lifetime subscription to VPN Unlimited for all your devices with a one-time purchase in the new Gadget Hacks Shop and watch Hulu or Netflix with no regional restrictions.
Buy now (80% discount)>