11–20 of 157 posts
BankSimple sound interesting but they will have to be offering something really awesome for me to even remotely consider doing business with a commercial bank ever again. (There days, I only deal with credit unions.)
I am surprised that so many people are willing to open a bank account with someone you've never heard of. I couldn't even find if they are FDIC insured. I know several friends who wouldn't use mint.com. For them, it is a single point of failure. You can explain all the technical details you want but there is no way to get past their fears. When shit hits the fan, you can expect the US govt. to bail out Bank Of Americ…
"However, BankSimple is not a "bank." We partner with chartered banks who provide FDIC-insured products, leaving us free to concentrate on designing the complete consumer banking experience, via the web and your smartphone."
Can someone please tell me the benefits of BankSimple over all the other online banks or your local credit union? I'm afraid I don't get it.
They list all the advantages here: https://banksimple.com/#vision In short, no surprise fee's and simple online banking (with extensive mobile support).
- The plain simple language bullet admits that of course there will always be legalese
- Real support. I've never had trouble at any hour getting a human being on the phone, empowered to deal with my issues. Facetiming or Skyping with my bank? I really don't see the point.
- Mobile from the ground up - Chase has great mobile apps that allow you to deposit checks by taking a photo. I believe other banks do as well and it seems like this will probably be pretty standard going forward.
- No fees. In four years I've been hit with a surprise fee once. It has been resolved.
"We provide access to the largest fee-free nationwide ATM network and our mobile app will locate an ATM closest to your current location." Not sure what that network is but is it more ATMs than Chase or BofA or Wells Fargo have?
In traditional banking, UX is an afterthought but from what I see, for BankSimple, banking takes the backseat but UX rules. I say this coz there's no details on FDIC, interest rates, etc. IMO, instead of doing Banking; they can sell their product to banks
However, BankSimple is not a "bank." We partner with chartered banks who provide FDIC-insured products, leaving us free to concentrate on designing the complete consumer banking experience, via the web and your smartphone. "
BankSimple sound interesting but they will have to be offering something really awesome for me to even remotely consider doing business with a commercial bank ever again. (There days, I only deal with credit unions.)
I've always wondered why after winning something (or in this case, getting 50k sign ups), people say "I'm humbled." I think the truth would be the opposite: "Wow, looks like I'm pretty awesome after all."
If any industry was waiting for a startup to come along and revolutionize it, it's the banking industry.
That's already happened you didn't notice (yet), it's called bitcoin.
Besides which, currency and customer support are two very different pieces of a much larger pie. At best, currency is the "implementation detail" behind a much larger set of day-to-day usability concerns inherent in banking.
BankSimple sound interesting but they will have to be offering something really awesome for me to even remotely consider doing business with a commercial bank ever again. (There days, I only deal with credit unions.)
agreed, someone needs to start a 'creditunionsimple' (and figure out a better name).