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Column – a chartered bank for developers

column.com

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Re: Column – a chartered bank for developers

#132

Post by jjeaff »

arcticbull wrote: post #57
VincentEvans wrote: post #43

Congrats on launching! I just want to vent about something bank-related, and hopefully bait someone to tell me how this solves it. Or something else solves it. Have you ever heard how you could pay off your mortgage a lot quicker by making bi-weekly payments instead of monthly? Or how you can include extra with your payment and instruct your bank to apply it directly to the premium, helping you reduce your interest?…

> Have you ever heard how you could pay off your mortgage a lot quicker by making bi-weekly payments instead of monthly? Or how you can include extra with your payment and instruct your bank to apply it directly to the premium, helping you reduce your interest? Generally speaking you don't want to do that. A mortgage with an interest rate of like 3% (to which anyone in the last year refinanced or, or got on purchase…

You have a rather sophisticated analysis here, yet, you left out the most important factor: risk. Something that every sophisticated investor must take into account. And in the case of your personal residence, you have to take into account not only investment risk, market risk and interest rate risk (which you alluded to re: refinancing, but you left out the fact that you are not guaranteed to be able to refinance and even when you do, there are fees associated), but you also have the risk of losing your home and being homeless. For many people, the latter risk is assigned a very high rate, so I don't think it is as simple (or complicated) as you make it out to be.

Re: Column – a chartered bank for developers

#134

Post by _praf »

procrastinatus wrote: post #126

How does this compare with Stripe Treasury (banking as a service)? https://stripe.com/treasury

Engineer at Column here! The difference between us and ALL banking as a service companies (Stripe Treasury, Unit, etc) is that we are the actual underlying bank in the transaction. BaaS companies usually wrap one or several banks (like us) to provide their API's.

Re: Column – a chartered bank for developers

#135

Post by toomuchtodo »

Will you support FedNow instant payments when it GAs next year? Alias support for transfers and payments?

Also, my favorite part of your site is this part of your Careers page:

> I don’t fit into any of these roles.

> You get Column and you think you can drive value on day one. We’ll be honest the bar will be pretty high for us to hire outside of these roles - but fuck it, surprise us. Give us a compelling narrative and hustle....and we promise we’ll read the email!

Very cool product, excited to see it grow. Def the future of fintech.

Re: Column – a chartered bank for developers

#138

Post by fierro »

politician wrote: post #114
whockey wrote: post #8

Hey founder (and OP) here. This has been a labor of love for the past few years and I'm super stoked on what we shipped. Would love any and all feedback, thoughts and questions!

I don't see a link on your website to Column N.A.'s legal disclosures. I'm trying to determine whether you have your own direct connection to FedWire/FedACH, are going through a 3rd party service provider like Fiserv/FIS, or are going through another bank.

We connect directly to the Federal Reserve. No middleware (i.e Fiserv/FIS), no other banks.

Re: Column – a chartered bank for developers

#139

Post by lbotos »

arcticbull wrote: post #67
lbotos wrote: post #54

Earlier quoted context omitted.

The most sad part is, while I'm not OP, I had a bank that supported bi-weekly payments, my mortgage was sold, and the new bank doesn't . What a kick in the pants!

They're saving you money by not supporting bi-weekly payments :)

I assume you mean because the extra money that I'm putting into my house could make more money in the market so instead of a 13th payment, get gains in the market?
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