Google Wallet Funds Are Now FDIC Insured

Discussion in 'Android News' started by dgstorm, Apr 20, 2015.

  1. dgstorm

    dgstorm Editor in Chief
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    It looks like Google has taken their Google Wallet service to a new level of credibility and safety. This morning a new report from Yahoo! News indicated we now have full support from the FDIC (Federal Deposit Insurance Corporation) for Google Wallet. This means any money you put in your Google Wallet account is now insured by the Federal Government for up $250,000 US dollars in the unlikely event Google ever goes bankrupt. The story has yet to be confirmed officially from Google, but we expect that to happen sometime soon.

    This story got us to wondering... how many of our members actually use Google Wallet? Sound off in this thread and let us know if you use Google Wallet, and, if so, do you use it a little or a lot?
     
  2. cerisecons

    cerisecons Gold Member

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    Great news DG, thanks for sharing, certainly makes me think of using it more.
     
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  3. DjNico

    DjNico Member

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    I been using it more and more recently actually. Especially transferring funds to my family or friends is much easier.
     
  4. cr6

    cr6 Super Moderator
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    Very cool! I still don't see myself using this more than I currently do (Which is never) being that I take my wallet, or at least my DL & debit card wherever I go. It's good to know that it's FDIC insured though....that's huge.

    S5 tap'n
     
  5. Sydman

    Sydman Premium Member
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    Still need more retailers that take NFC payments, and the ones that do, they need to actually work. CVS/BestBuy/Others blocked NFC payments until they can get their own wallet tech working.

    My local HEB has the scanners, they never work.

    The only place I have consistently successfully used it is Walgreens. So much nicer using my phone rather than the wallet, we need it more wide spread.
     
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  6. Jonny Kansas

    Jonny Kansas Administrator
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    Excellent news. I haven't tossed money into the actual wallet account, mostly because it wasn't protected.

    Have to agree with Sydman. I've only ever used mine at Walgreens and McDonalds. Walgreens is extra nice though, because it stores my rewards card info as well, so I don't have to get my wallet or my keys out there.
     
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  7. Dusty

    Dusty Gold Member

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    Nice! I just put $249,999 on my GW account!

    OK. Not really. But, if I could I would just so I could be That Guy™.
     
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  8. C3-PO

    C3-PO Member

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    I ordered the debit card from Google Wallet and gave it to my young one to teach him some responsibility. The card can be setup only to use money that's actually in the Google Wallet or in my account. I can put money on his card and monitor his spending. Google Wallet alerts me instantly whenever he makes a purchase. It's been a great teaching tool for him.
     
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  9. Jonny Kansas

    Jonny Kansas Administrator
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    I'll have to remember that when my stepson gets a bit older. That's a great idea!
     
  10. PereDroid

    PereDroid DF News Team Reporter

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    Sam thought that I had for when my boy is older...
     
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  11. pc747

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    I use Google Wallet at walmart, staples, and all other venues that allow for it.
     
  12. realged13

    realged13 Senior Member

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    I use it with the actual debit card. My wife and I both have one and we use it for budgeting reasons. It easily allows for me to setup tracking and transferring of money. It keeps my wife and I honest and stick to what we agreed too.

    If for some reason she runs out of money, then she still has her other debit card.

    I've started loading my different group memberships to it.
     
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