121–130 of 166 posts
Guys guys guys, great idea, I applaud your efforts but... More than once I'll be typing banksimple and hitting ctrl+enter so I'll go right to a phisher's page ready to empty my bank account as soon as I type my id/pass. Really, get a dot com.
We've had the bank discussion here before, and some of it seems to come down to the fact that banks are required to do a lot of regulatory stuff that is not 'simple'.
Earlier quoted context omitted.
Of the value props he describes, the only one that remotely resonates with me is: "A bank that puts your money to work automatically." He writes that nobody LOVES their bank. But does anybody really HATE their bank? Maybe some vocal folks, but a bank to me is a utility-- a hole in the wall where I stick my money. I've never felt gouged by fees (when I was young and stupid, I've been annoyed by overdraft fees, but the…
Must be Stockholm syndrome. Have you tried to pay a friend an amount of money that would be inconvenient to do in cash? The best way to do it through your bank is to have them chop down trees into paper checks, physically mail them to you (this takes a few days), have you scribble down a number on the paper, hand (or mail... wait a few more days) the check over to your friend, who feeds it into an ATM, which scans th…
A bank that display funny pics when system goes down... The money in your account is eventually consistent... A bank allow users to type command to transfer money, e.g. "accept $1000"...
I'm sorry, but I want my bankers to be grave old men in suits. I also want my bank to have offices all over the world and I want to know that they are handling money many hundreds of times larger than whatever I have. I don't want a bank started by a guy called al3x, and who just left twitter. It sounds innovative, but it doesn't sound...dependable. And if there is one feature I want my bank to have, it's dependable.
Hi Max, I understand where you're coming from. The simplest answer is: if you don't want to bank with us, then don't. We don't imagine that we'll replace every bank ever. There are plenty of traditional banks that may be going bust left and right, but hey, you're free to do business with them. A more complicated answer is that BankSimple will have the backing of established, traditional financial entities who are ful…
It starts with a disingenuous comment and it barely addresses the most basic of concerns(FDIC) and does so in a snarky and somewhat rude manner.
I would think you would have learned how to handle criticism and concern for a product of yours a lot better than this working at Twitter.
Earlier quoted context omitted.
That's why I'll be using it first, and lots of my fellow college students who have a lot less to use and a lot more to gain from using a bank like BankSimple. Time is in short supply, and fees eat away at my little pool of cash. I'm willing to take the risk, and willing to put my money in the hands of people who are young, smart and innovative, instead of bureaucratic, slow and set in their ways. Not only that, but i…
ING Direct (ingdirect.com) is an amazing online-only bank that has virtually no fees. They've got amazing customer service. And they have the best bank web user interface I've ever dealt with. BankSimple will need to differentiate themselves from ING Direct somehow. edit: Why the downvotes? I use ING Direct as my main bank. I love it. BankSimple will need to differentiate themselves from ING Direct to win me over. ed…
My bank in Norway has no physical offices and conducts all of its services over the internet, phone or mail. There are (practically) no fees and the interest rates on its savings/checking accounts (there are interchangable, since there are no fees) are within 0.2% p.a. from the best that can be obtained anywhere in the country, regardless of capital amount. All funds are insured from bankruptcy through the national bank security fund. The young crowd almost never uses checks in Norway - all bills are paid online. The only problem with this system is speed and service - if you suddenly lose your credit/debit card, you will have a few days of worry while the bank sends you a new one. Identification can be complicated, since there isn't a person 15 minutes away that can physically talk to you and verify your identity.
All in all, I think this is very promising. Someone needs to pull American banking into the 21st century. This guy will have problems with legislation and bureucracy and huge competitors, though..count on that.
Guys guys guys, great idea, I applaud your efforts but... More than once I'll be typing banksimple and hitting ctrl+enter so I'll go right to a phisher's page ready to empty my bank account as soon as I type my id/pass. Really, get a dot com.
We'll get there. Running lean right now.
I've wanted to do something very much like this in a future startup. Banking does suck. Unfortunately, it's debatable how much of banks' suckiness is avoidable. Retail banking is caught in a vice-grip between fierce competition for low margins and government regulations. For example, from what I understand you pretty much have to run mainframes with certain antiquated, government-approved software to process stuff th…
Of the value props he describes, the only one that remotely resonates with me is: "A bank that puts your money to work automatically." He writes that nobody LOVES their bank. But does anybody really HATE their bank? Maybe some vocal folks, but a bank to me is a utility-- a hole in the wall where I stick my money. I've never felt gouged by fees (when I was young and stupid, I've been annoyed by overdraft fees, but the…
Earlier quoted context omitted.
That's why I'll be using it first, and lots of my fellow college students who have a lot less to use and a lot more to gain from using a bank like BankSimple. Time is in short supply, and fees eat away at my little pool of cash. I'm willing to take the risk, and willing to put my money in the hands of people who are young, smart and innovative, instead of bureaucratic, slow and set in their ways. Not only that, but i…
ING Direct (ingdirect.com) is an amazing online-only bank that has virtually no fees. They've got amazing customer service. And they have the best bank web user interface I've ever dealt with. BankSimple will need to differentiate themselves from ING Direct somehow. edit: Why the downvotes? I use ING Direct as my main bank. I love it. BankSimple will need to differentiate themselves from ING Direct to win me over. ed…
I'd love to hear if there are other easily accessible savings accounts out there that can tie into your checking account, with no minimum balances or withdrawal fees, that offer comparable interest rates.
My finances aren't stable enough right now to look into anything like CDs, Bonds, etc - it needs to be an interest bearing savings or checking account.