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BankSimple: We have cards

banksimple.com

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Re: BankSimple: We have cards

#121

Post by palish »

dusklight wrote: post #113
al3x wrote: post #93

Earlier quoted context omitted.

I'm the CTO of BankSimple. I can confidently say that there's nothing fundamentally broken about the concept or company. BankSimple wasn't the right place for Dave, but he's a brilliant programmer – seriously, one of the best I've ever worked with – who will end up doing great things no matter where he ends up. I'm really grateful that we got a chance to work with him. To be clear: this is not the easiest business in…

Errr ... can you explain the reasoning behind your reply? Did you feel that the average reader would not be intelligent enough to notice that you did not actually answer the question? (why did Dave quit/was fired). If anything your post has gotten me to trust your service significantly less, because it looks like you think you can get away with duping potential customers with some polite doublespeak. Can you explain…

It's none of your business why Dave quit/was fired.

Re: BankSimple: We have cards

#122

Post by KirinDave »

dusklight wrote: post #113
al3x wrote: post #93

Earlier quoted context omitted.

I'm the CTO of BankSimple. I can confidently say that there's nothing fundamentally broken about the concept or company. BankSimple wasn't the right place for Dave, but he's a brilliant programmer – seriously, one of the best I've ever worked with – who will end up doing great things no matter where he ends up. I'm really grateful that we got a chance to work with him. To be clear: this is not the easiest business in…

Errr ... can you explain the reasoning behind your reply? Did you feel that the average reader would not be intelligent enough to notice that you did not actually answer the question? (why did Dave quit/was fired). If anything your post has gotten me to trust your service significantly less, because it looks like you think you can get away with duping potential customers with some polite doublespeak. Can you explain…

He's politely giving you all the information that it is prudent and professional for him to reveal.

Allow me to put it bluntly: my reasons for leaving BankSimple are my business. I have no interest, reason, or obligation to tell you more than I have.

Re: BankSimple: We have cards

#124

Post by salver4m »

palish wrote: post #120
thinkcomp wrote: post #117

Earlier quoted context omitted.

But I thought BankSimple wasn't a bank, despite the confusing name.

"BankSimple: Personal banking from a company that respects you." That's not a bank?

From the FAQ:

So, what’s the deal... are you really a bank?

We are not a bank. We work with partner banks (soon to be announced) to provide FDIC insured products. What this means for you is that your money is safely insured with our partners. Our wholesale partners provide the financial products, we provide the customer service and experience.

Re: BankSimple: We have cards

#125

Post by tentonwire »

encoderer wrote: post #86
cpeterso wrote: post #72

Earlier quoted context omitted.

> Right, there are already good alternatives to consumer-hostile banks, such as the fantastic Charles Schwab. Do you mean Charles Schwab is the "good alternative" or the "consumer-hostile bank"?

It's no longer offered, but I have a credit card from Schwab that gives me a flat 2% cashback every month on every purchase, no opt-ins every month, no tiers, no limits. The cash gets ACHd into my checking account. The card has 0% foreign exchange fees, free concierge service, 90 day price-drop match guarantee, doubles every manufacturers warranty up to 5 years (aside from things like cars), and has $0 annual fee. An…

As another owner of this card, I have to note that Schwab is no longer "subsidizing" this card, and has completely been disassociated from it. I believe the reason was that they weren't making any money off of it, but my memory is a bit foggy now.

It is now serviced by FIA Services, no longer available to new customers, and of course terms and conditions are subject to change. So far, nothing has changed, but still, the point is that this card was and is an anomaly.

Re: BankSimple: We have cards

#126

Post by [deleted] »

rglullis wrote: post #104
allwein wrote: post #81

Earlier quoted context omitted.

> How will overdrafts work? Will the check just not go through? That's how it used to work, so sure, it's an option. A second option would be automatically taking the money out of your savings account, if available. A third option is, if you have a credit card with them, putting the overage on you your credit card. A fourth option would be to generate an automatic overage loan at a reasonable interest rate, without a…

In Brazil it is standard practice for banks to attach a credit line to every checkings account, and if you overdraw it counts as a loan against that credit. Some even include a grace period (10 days or so) where you don't pay anything if you bring your balance back to black. However, you definitely don't want to keep using that credit line. Interest rates are on the order of 120%/year.

[deleted]

Re: BankSimple: We have cards

#127

Post by purephase »

KirinDave wrote: post #118
purephase wrote: post #114

Earlier quoted context omitted.

No offense, but you come off as a bit of jerk in this whole thread. I think that speaks more than the supposed drama of your departure.

Point taken. The next time people try to misattribute subtexts to my tweets to drum up drama, I will try to stay out if the way. Even if that drama might have a negative effect on my career and relationships, I will remain silent.

I apologize for my glib comment. Originally, I was on your side and felt the derail was unwarranted given the original context. Perhaps advice we can both benefit from is that the lesser said the better.

Re: BankSimple: We have cards

#128

Post by [deleted] »

purephase wrote: post #127
KirinDave wrote: post #118

Earlier quoted context omitted.

Point taken. The next time people try to misattribute subtexts to my tweets to drum up drama, I will try to stay out if the way. Even if that drama might have a negative effect on my career and relationships, I will remain silent.

I apologize for my glib comment. Originally, I was on your side and felt the derail was unwarranted given the original context. Perhaps advice we can both benefit from is that the lesser said the better.

[deleted]

Re: BankSimple: We have cards

#129

Post by tptacek »

purephase wrote: post #127
KirinDave wrote: post #118

Earlier quoted context omitted.

Point taken. The next time people try to misattribute subtexts to my tweets to drum up drama, I will try to stay out if the way. Even if that drama might have a negative effect on my career and relationships, I will remain silent.

I apologize for my glib comment. Originally, I was on your side and felt the derail was unwarranted given the original context. Perhaps advice we can both benefit from is that the lesser said the better.

Yeah let's definitely find a way to make him share the blame for this thread.

Re: BankSimple: We have cards

#130

Post by meterplech »

foobarbazetc wrote: post #116
meterplech wrote: post #43

This is very intelligently done. I'm glad they are releasing the cards to just a small set of people first to check that everything works. People are very wary of any issues with their money/with their bank and absolutely any problem at the beginning would seriously hurt user adoption. Start slow and make sure it works.

How is this "intelligent" and not obvious, common sense before you roll out a bank ?

Common sense is surprisingly uncommon. You've heard about Friendster falling apart because of scaling issues? Or Kozmo.com expanding to too many cities in too little time... Many companies forget to start small and test
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