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Synapse FI ( https://synapsefi.com ) -- They have been around for awhile.
They use MongoDB for their ledger. Was not fun for us.
but isn't MongoDB webscale?
Increase: Banking API
171–180 of 305 posts
Re: Increase: Banking API
#172Earlier quoted context omitted.
Not really worth the 2 days off work it would take (1 to learn the necessary law/rules/procedures, and one to actually attend court).... Although if I'm bored in the future I might.
I heard of a case where a person did this and won their claim in small claims court, the defendant (I think it was Verizon?) never showed up. They got a default judgement, but still couldn't actually collect the amount owed. So they ended up filing a foreclosure on the actual building - and it worked! The foreclosure went through, and the company almost lost their brick and mortar store. Took years for the process, b…
If you're talking about this one: https://abcnews.go.com/Business/bank-america-florida-foreclo...
The threat was enough to fix the failed transaction. The manager was able to call someone and issue a check, rather than have their branch auctioned off.
Re: Increase: Banking API
#173Earlier quoted context omitted.
I'm am often amazed that the entire world financial system hasn't collapsed yet, considering what I now know about how it is put together.
I guess credit and undos smooth over most of the problems.
Yes, that certainly helps a lot, but I'm pretty sure that would crumble under certain not-terribly-difficult-to-execute attacks.
The happy fact of the matter is that the vast majority of actors in the economy seem to be pretty well-behaved. The scary thing is that the system seems to depend on this.
Re: Increase: Banking API
#174Earlier quoted context omitted.
Meanwhile the USAA app told me one time that the amount I was trying to move one time would be subject to additional regulations and suggested breaking breaking up the transfer. It felt like if Clippy had an addon to it's expert system from Saul.
Suggested breaking up the transfer to evade regs? Isn't that felony structuring? LOL
Not if you are doing legitimate transfers. I had to move money from trading account and had to do it over multiple days due to limits. It’s my money moving from one account to another. Zelle also doesn’t allow you to move more than certain amount. Probably for protection reasons.
Re: Increase: Banking API
#175Earlier quoted context omitted.
No good deed does unpunished.
I think this is one of the most unfortunate memes that people for some reason still continue to share. Think about what it teaches children when they hear it? What kind of a world view does it instill? By saying the phrase you are explicitly communicating the idea that it is (at least is some sense) better to not do good deeds.
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Re: Increase: Banking API
#176Is there any service like this for individuals? Specifically, I want to be able to open and close checking accounts at will with different card numbers, with different spending limits. The purpose would be to serve as an envelope system and budgeting tool.
I’m currently building this at envelopemoney.com
Re: Increase: Banking API
#177Two questions:
1) What does this provide over other BaaS vendors, for example Treasury Prime, Unit, Synapse, Lithic, etc?
2) Why are the ACH fees so horrifically high? Even a fifth of that is really on the high end.
Re: Increase: Banking API
#178How is this different than Column Stripe Treasury Treasury Prime Unit Cross River Bank Any BaaS I'm missing? ???
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Re: Increase: Banking API
#179Earlier quoted context omitted.
Doesn't crypto have the same problem, with money laundering and other crimes? If you lose money with crypto, there is no one to sue nor government insurance.
> Doesn't crypto have the same problem, with money laundering and other crimes? I don't see how that's the same problem? They are clearly separate, distinct problems. There are obviously both advantages and disadvantages to both crypto and banking. As someone who lives in a country that has been through a lot of bullshit, I highly value the fact that the bank can't just take away my money.
Hackers, on the other hand, can. As can exchanges as repeatedly happened in the last few months.
The only difference is that crypto fraud is irreversible, and that the blame will be put on you.
Re: Increase: Banking API
#180I made an API for a bank... I was a third party and made the API by screen scraping their webUI. I sent their devs a link and initially there were positive messages going back and forth. The API allowed you to see balance, transaction history, and make payments. Before long, the API got quite popular, and lots of people were using it to make lots of payments automatically. You know what makes money laundering super e…
If in the US, file a complaint with the FDIC + if it’s nationally chartered, the OCC (or the relevant state banking regulator), banks do not like uncomfortable questions from their regulators.
https://ask.fdic.gov/fdicinformationandsupportcenter/s/?lang...
https://www.helpwithmybank.gov/file-a-complaint/index-file-a...