BankSimple invites first customers; rebrands itself as Simple
1–10 of 295 posts
Re: BankSimple invites first customers; rebrands itself as Simple
#2Ah, wonderful. I hope I can get in soon. I've been waiting forever. Congrats to them for finally getting public.
Re: BankSimple invites first customers; rebrands itself as Simple
#3I thought BankSimple was a great brand, because it tells you what it is and fits well with the current zeitgeist.
What is "BankSimple?" A way to bank that's simple. Sounds interesting! Everyone hates how complicated banking is, right? Let's go to the website to find out more.
What is "Simple?" Who knows. A website that has something to do with banking--or so I'm told--with yet another web 2.0 one-word "brand", a really uninspiring one too. Hey, I wonder what's on Reddit.
Re: BankSimple invites first customers; rebrands itself as Simple
#4Does someone know exactly what they are? If we deposit money with them, how do we know we will get our money back? What does it mean when they say: "we're not a bank, but we deposit your money in FDIC-insured funds"?
I'm all for introducing new types of banking entities, and I'm willing to even try this company out, but in the age of post-Madoff and personally having my identity stolen, how do I know who these guys are, and that they will protect my money and my information?
Re: BankSimple invites first customers; rebrands itself as Simple
#5Honestly, I don't understand this rebranding. Are they making things other than banking simple? I love the idea of making banking more simple and easier, and that's why I thought their previous name, BankSimple, was better. Can someone help me understand this?
Re: BankSimple invites first customers; rebrands itself as Simple
#6I thought BankSimple was a great brand, because it tells you what it is and fits well with the current zeitgeist. What is "BankSimple?" A way to bank that's simple. Sounds interesting! Everyone hates how complicated banking is, right? Let's go to the website to find out more. What is "Simple?" Who knows. A website that has something to do with banking--or so I'm told--with yet another web 2.0 one-word "brand", a real…
Whatever Simple is, I suspect it doesn't have to comply with every single state's regulations on exactly what can call itself a bank.
Re: BankSimple invites first customers; rebrands itself as Simple
#7I wonder if there were issues with calling themselves BankX when they are not regulated as a bank. Edit to add, there are definite laws against this in some states, for instance CT (I'm not sure if this would apply in this case, but it's indicative of what is out there):
"No partnership, common law trust or association, or individual using a trade name, shall use, either as a part of its name or as a prefix or suffix thereto or as a designation of the business carried on by it, the word "bank", "banking", "banker", "bankers", "trust" or "savings", "
Re: BankSimple invites first customers; rebrands itself as Simple
#8Honestly, I don't understand this rebranding. Are they making things other than banking simple? I love the idea of making banking more simple and easier, and that's why I thought their previous name, BankSimple, was better. Can someone help me understand this?
Maybe things like healthcare and benefits?
Re: BankSimple invites first customers; rebrands itself as Simple
#9Does someone know exactly what they are? If we deposit money with them, how do we know we will get our money back? What does it mean when they say: "we're not a bank, but we deposit your money in FDIC-insured funds"? I'm all for introducing new types of banking entities, and I'm willing to even try this company out, but in the age of post-Madoff and personally having my identity stolen, how do I know who these guys a…
> What does it mean when they say: "we're not a bank, but we deposit your money in FDIC-insured funds"?
it means that "simple"/"banksimple" is not a bank itself. you deposit your funds through their interface into actual banks while simple provides an interface to track and visualize your money. thats my understanding, at least. they definitely can't bill themselves as a bank when they aren't one.
Re: BankSimple invites first customers; rebrands itself as Simple
#10I thought BankSimple was a great brand, because it tells you what it is and fits well with the current zeitgeist. What is "BankSimple?" A way to bank that's simple. Sounds interesting! Everyone hates how complicated banking is, right? Let's go to the website to find out more. What is "Simple?" Who knows. A website that has something to do with banking--or so I'm told--with yet another web 2.0 one-word "brand", a real…
Mint, Square, Ally. I think the naming convention fits other examples of successful startups in this space.