BankSimple invites first customers; rebrands itself as Simple • Hacker News Board

Re: BankSimple invites first customers; rebrands itself as Simple

#231

Post by scott_s » Tue, Nov 08, 2011, 9:53 PM UTC

ynniv wrote: post #216

AznHisoka wrote: post #198

Earlier quoted context omitted.

Like others have echoed, I just want to know how this really works. Part of the problem of "disruption" is that it creates confusion and breaks the usual pattern of doing things. Noone will sign up for your service if it's just 1 huge black box that is completely foreign and new to them. You will need to educate how it all works... I mean, I still don't know what you guys do, or are.. You're not really a bank, Ok.. t…

Firstly, I have no affiliation with Simple. But here's my problem with this line of reasoning: even if Simple wrote a detailed description of what they are and how they work, it wouldn't actually help anyone here. Maybe a couple of us have dabbled in something financial, but that doesn't make us qualified to judge whether banking with Simple is a sound financial decision. I don't fix my own medical problems, I don't…

How can people evaluate if they're comfortable using this service without asking these questions? I don't see any technical posturing. And I do see, deep, pointed questions from people interested in the service, but still skeptical about it.

Re: BankSimple invites first customers; rebrands itself as Simple

#232

Post by kleiba » Tue, Nov 08, 2011, 9:57 PM UTC

cynicalkane wrote: post #3

I 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…

In some regions of Germany, the noun "Simpel" means idiot (it still means "simple" as an adjective). Also note that the spelling is slightly different, but the pronunciation is pretty much the same. Just in case these guys ever want to reach around the globe...

Re: BankSimple invites first customers; rebrands itself as Simple

#233

Post by oemera » Tue, Nov 08, 2011, 10:08 PM UTC

kleiba wrote: post #232

cynicalkane wrote: post #3

I 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…

In some regions of Germany, the noun "Simpel" means idiot (it still means "simple" as an adjective). Also note that the spelling is slightly different, but the pronunciation is pretty much the same. Just in case these guys ever want to reach around the globe...

Can I who told you that? I'm German and I have never heard that "Simpel" as the German noun is associated with idiot or idiotic thinks.

Simpel just means simple. Maybe it is not seen like the simpleness which American people try to express with the word but either it just means simple.

I love to have more simpleness in Germany. Please do consider to expand to Germany or Europe!

Re: BankSimple invites first customers; rebrands itself as Simple

#234

Post by repsilat » Tue, Nov 08, 2011, 10:16 PM UTC

oemera wrote: post #233

kleiba wrote: post #232

Earlier quoted context omitted.

In some regions of Germany, the noun "Simpel" means idiot (it still means "simple" as an adjective). Also note that the spelling is slightly different, but the pronunciation is pretty much the same. Just in case these guys ever want to reach around the globe...

Can I who told you that? I'm German and I have never heard that "Simpel" as the German noun is associated with idiot or idiotic thinks. Simpel just means simple. Maybe it is not seen like the simpleness which American people try to express with the word but either it just means simple. I love to have more simpleness in Germany. Please do consider to expand to Germany or Europe!

"Simple" in English can have that connotation - a simpleton is someone who is simple, after all.

Re: BankSimple invites first customers; rebrands itself as Simple

#235

Post by bdonlan » Tue, Nov 08, 2011, 10:19 PM UTC

al3x wrote: post #91

sector wrote: post #88

Earlier quoted context omitted.

I don't understand who I call when a problem arises. Do I call you, the anonymous partner bank, or is it simply impossible to call somebody if I have an issue?

Hi, cofounder of Simple here. You call us if you have a problem or question. We'll let you know what bank your funds reside at, but you should never need to contact them. We have our own in-house customer relations staff.

Does this mean you only find out where your funds are if you call and ask, or is there some page (probably hidden under an 'advanced options' panel I suppose) showing the underlying accounts and their balances, internal transfer transaction logs, etc?

Re: BankSimple invites first customers; rebrands itself as Simple

#236

Post by ganeumann » Tue, Nov 08, 2011, 10:21 PM UTC

xradionut wrote: post #226

ganeumann wrote: post #217

Earlier quoted context omitted.

I think, when you say that banking is simple to the moderately educated, you're objectively wrong. Banking regularly comes out as one of the bottom few industries in reputation and one of the top few industries in customer complaints. A huge number of people in the US really, really dislike their banks. There are some people who do some work to make sure they choose a bank that will not treat them poorly and then con…

"I think, when you say that banking is simple to the moderately educated, you're objectively wrong." Moderately educated means that a person as spent a few days in their lifetime informing themselves how simple accounting and consumer/small business banking works. It's not rocket science. If you can't read a simple financial or income statement, you can't make an informed decision about a choosing a bank or understan…

I agree that in a world where banks try their hardest to screw their customers, people should know how banks work. But a better world would be one where people don't need to worry about how their bank might screw them because their bank is not trying to screw them.

Anyway, in point of fact, most people don't inform themselves of these things, and I don't think those people should be punished for assuming their bank will be trustworthy.

Re: BankSimple invites first customers; rebrands itself as Simple

#237

Post by adamio » Tue, Nov 08, 2011, 10:22 PM UTC

al3x wrote: post #106

adamio wrote: post #74

I already have a checking account. The website interface works. Its not trendy glossy HTML5, but that's ok because my money isn't handed over to a third party who gets to profit off its interest on my behalf. What problem are you solving? The user interface for bank's sites are not good? So you are a different user interface and all I have to do is put my money in a black box? Who is funding these startups, wow. I ha…

There's a whole bunch of problems we're solving. More, really, than fits in an HN comment. You're right that user experience is a primary concern for us. The interface that most people have their financial data is extremely poor. This makes answering questions about your financial life slow and clumsy, if it's even possible given the tools your bank provides. That keeps a lot of people from making the right financial…

Ok fair. With Simple I can have a nifty way to view my expenses and have no hidden fees. The cost to me is nothing out of pocket, but I have to let Simple manage my money. I can see being more useful than a prepaid visa card for (college)kids, but it seems rather limiting to compete with standard checking accounts.

Re: BankSimple invites first customers; rebrands itself as Simple

#238

Post by jamesbritt » Tue, Nov 08, 2011, 10:22 PM UTC

kleiba wrote: post #232

cynicalkane wrote: post #3

I 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…

In some regions of Germany, the noun "Simpel" means idiot (it still means "simple" as an adjective). Also note that the spelling is slightly different, but the pronunciation is pretty much the same. Just in case these guys ever want to reach around the globe...

Same in English; calling someone "simple" is short for "simple-minded" or "a simpleton".

Don't hear it used much though, and it's unlikely to be the first thing that pops into someone's head.

Re: BankSimple invites first customers; rebrands itself as Simple

#239

Post by sjwright » Tue, Nov 08, 2011, 10:26 PM UTC

sector wrote: post #99

al3x wrote: post #91

Earlier quoted context omitted.

Hi, cofounder of Simple here. You call us if you have a problem or question. We'll let you know what bank your funds reside at, but you should never need to contact them. We have our own in-house customer relations staff.

Okay, so let's take a real situation that happened to me: an ATM debited my account $600, but only dispensed $300. In that situation, I call you, and what happens from there? Thank you for taking the time to answer some of our questions on what is surely a busy day.

I would have thought you'd contact the ATM operator first.

Re: BankSimple invites first customers; rebrands itself as Simple

#240

Post by 18pfsmt » Tue, Nov 08, 2011, 10:32 PM UTC

adamio wrote: post #237

al3x wrote: post #106

Earlier quoted context omitted.

There's a whole bunch of problems we're solving. More, really, than fits in an HN comment. You're right that user experience is a primary concern for us. The interface that most people have their financial data is extremely poor. This makes answering questions about your financial life slow and clumsy, if it's even possible given the tools your bank provides. That keeps a lot of people from making the right financial…

Ok fair. With Simple I can have a nifty way to view my expenses and have no hidden fees. The cost to me is nothing out of pocket, but I have to let Simple manage my money. I can see being more useful than a prepaid visa card for (college)kids, but it seems rather limiting to compete with standard checking accounts.

>I can see being more useful than a prepaid visa card for (college)kids, but it seems rather limiting to compete with standard checking accounts.

I'm not sure if your ability "to see" anything is relevant, but your characterization seems extremely shortsighted. Do you honestly believe that innovative startups of this kind launch with one set of features and never make improvements or add features later? I can think of lots of ways a company could innovate in the banking world, so I guess they are only limited by imagination.