Am I the only one who hears about like 75% of Google's products for the first time only when they issue EOL/EOS notices?
You're not the only one, which is exactly the problem. PS: I've never heard of this service either.
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Google Shutting Down Wallet Card
121–130 of 179 posts
Re: Google Shutting Down Wallet Card
#122Earlier quoted context omitted.
Ally's interest rates are tempting, but the fact that it's just GMAC with some new makeup is very off putting.
Simple is "just Bancorp" which you could probably say equal things about.
As I understand it, Bancorp is just contracted by Simple to hold the funds and interface with the banking system. All of the policies, support and user-facing parts are handled by Simple itself.
Ally, on the other hand, literally is GMAC.
Re: Google Shutting Down Wallet Card
#123This is the first of Google's product cancellations that will affect me personally. My wife and I have been using Google Wallet cards for budgeting - we transfer our spending money to the cards each week to help track our spending. Honestly there's no reason Google Wallet was superior for this - I expect Simple will solve our problems better anyway. Should have seen this coming when they split it off of Android Pay.
It's a UI layer on top of an old-fashioned bank. It offers worse rates, perks, benefits and service than Ally, Schwab or Fidelity. Good if you want something pretty on the side, I suppose.
The app is nicer and the barrier to start very low. I started using it when I got rid of Ally. Youre right there are no perks to Google Wallet Card but the perks from Ally and other banks are not very useful for the use described above. Basically, they are putting a tiny amount of money aside and spending it all in the next 30 days.
I havent used the app but Simple sounds pretty good since you can set multiple "goals" (I think they should call them buckets or envelopes or something).
Re: Google Shutting Down Wallet Card
#124The Wallet Card was invented for places that don't take Android Pay, to pay in the form of a regular credit/debit card. Unfortunately, this is useless because it is the same level of (in)convenience as a credit card, and doesn't offer the 2-5% cashback that all the other cards I have do. Even if a store accepted NFC-based Android Pay, I'd probably still opt to pull out my plastic card for the cashback and consumer pr…
Where are you getting 5% cash back? Highest I've seen is Chase Sapphire with their points which are worth 2-3%. Highest straight cash back I've seen is Citi DoubleCash at 2%.
USBank Cash+ too. You have to pick categories each quarter. You get to pick though, which makes it more convenient than cards that just assign random categories.
Re: Google Shutting Down Wallet Card
#125Earlier quoted context omitted.
+1 for Simple!
-1 for Simple. Not refunding ATM fees is ridiculous for a bank that has no physical ATMs. Also, things like this: "Your Simple Visa® Card will not function on August 6th from 2:00 - 9:00 am EST"
These ATMs have no fees, it looks like: https://www.simple.com/atms
Re: Google Shutting Down Wallet Card
#126Earlier quoted context omitted.
How does that work? If credit card fees are well under 5%.
Sure, fees are under 5%, but what about that one month that you didn't pay off your bill in full? Enjoy that ~30% interest rate on your account balance.
1) Chase Freedom's APR tends to be around 20%
2) If you only carry a balance (or part of it) for one month (as in your example) and then pay it off the next month, your interest charge is nowhere close to the APR (and it's only calculated against the portion you didn't pay off).
Re: Google Shutting Down Wallet Card
#127Earlier quoted context omitted.
It's a UI layer on top of an old-fashioned bank. It offers worse rates, perks, benefits and service than Ally, Schwab or Fidelity. Good if you want something pretty on the side, I suppose.
The app is nicer and the barrier to start very low. I started using it when I got rid of Ally. Youre right there are no perks to Google Wallet Card but the perks from Ally and other banks are not very useful for the use described above. Basically, they are putting a tiny amount of money aside and spending it all in the next 30 days. I havent used the app but Simple sounds pretty good since you can set multiple "goals…
Simple is great but it's a bit confusing when looking at your balances. If you are just using the mobile app it's fine because it hides your stashes but the web app spills the beans when it tells you how much money you really have.
Re: Google Shutting Down Wallet Card
#128Earlier quoted context omitted.
+1 for Simple!
-1 for Simple. Not refunding ATM fees is ridiculous for a bank that has no physical ATMs. Also, things like this: "Your Simple Visa® Card will not function on August 6th from 2:00 - 9:00 am EST"
They have ATMs everywhere. And newsflash traditional banks cards do the same thing, they are just less transparent about it.
Re: Google Shutting Down Wallet Card
#129Earlier quoted context omitted.
Simple is "just Bancorp" which you could probably say equal things about.
As I understand it, Bancorp is just contracted by Simple to hold the funds and interface with the banking system. All of the policies, support and user-facing parts are handled by Simple itself. Ally, on the other hand, literally is GMAC.
Actually it's the other way around. Simple is the public facing interface that is beholden to all of the policies and inconveniences of Bancorp. Don't get me wrong I love the service but full disclosure it's Bancorp with makeup. Now I have had instances where they where Bancorp was closed for a holiday and my direct deposit didn't get processed and I had bills that were going to hit that I needed access to my funds and they were very helpful and happy to do a temporary credit to my account to make sure that I got what I needed.
Re: Google Shutting Down Wallet Card
#130Google Reader thought me long ago not to depend or invest much time on Google services. Nowadays the only product that would cause me a huge problem if they decide to cancel it is Gmail.
Honestly, I don't think they'll ever cancel Gmail.
Or maybe they'll cancel Gmail so users will transfer to (ew) Google Inbox. I sure hope not.