Starbucks have more money deposits than banks

Starbucks have more money deposits than banks

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FRIDAY: Are people really putting their money in safe? If so, then where? In order to resolve these curiosities, Wall Street Journal (WSJ) has taken an initiative to review S7P Global Market Intelligence *data.

(*incorporated well-reputed banks like PayPal Holdings Inc. etc that had $13.02 billion in global customer account balances as of the 1Q-2016)

Astonishingly, there’s one way. Much of the population is believed to deposit their money than in several financial institutions: Starbucks (NASDAQ: SBUX) cards!

Exclusive report after reviewing data yielded (for readers’ concern):

|SBUX for one, had $1.2 billion loaded onto SBUX cards and the SBUX mobile app as of the 1Q of this year – later can be used to purchase items including drinks, food and other merchandise|

Moreover, in 2Q of fiscal 2016, approximately 41% of SBUX transactions have been conducted using SBUX card, in U.S and Canada – i.e. 24% of transactions at company-operated retail stores U.S. used the Starbucks mobile app.

“During that time-span, the company had nearly 12 million active loyalty members.” – report

INSIGHT: Starbucks is believed to sell various gift cards to its regular customers on occasions like Christmas Eve.

UPDATE: The Starbucks figure exceeds the deposits at many actual financial institutions, like Bank of America Corp. (BAC), with $427.19 billion, J.P Morgan Chase & Co. (JPM), with $383.28 billion, U.S. Bancorp (USB), with $80.27 billion, California Republic Bancorp (CRPB) with $1.01 billion, Mercantile Bank Corp. (MBWM) with $680 million, Green Dot Corp. (GDOT) with $560 million, Discover Financial Services (DFS), with $470 million and Beneficial Bancorp Inc. (BNCL) with $410 million.

Exclusive data obtained by Market Watchers cite (for readers’ concern):

|The coffee beverage’s shares were bullish by 0.4% during afternoon trade session | The S&P 500 is bullish by 1.6% in yearly time-span.

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