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Banking: Wells Fargo, Chime, Empower banks fight for millennial accounts

September 20, 2018


Are you between 21 and 37? Please bank with us.

That’s the message millennials are hearing as the battle between the big banks and fintech companies for their hearts and deposits heats up.

The newest entrant in the fray – personal finance app Empower – upped the ante this week by rolling out its mobile bank services, including a fee-free checking account with rewards and a savings account that earns significant larger yields than at the big banks. The move comes shortly after Chase began dangling 60,000 rewards points to get more well-heeled young people to sign up for a premium checking account.

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