Curious why their logo appears to be a downward-biased ticker with a negative color combination!
Standard Treasury (YC S13) Aims To Make Software That Eats Commercial Banking
31–39 of 39 posts
Re: Standard Treasury (YC S13) Aims To Make Software That Eats Commercial Banking
#32Good luck! I wrote a post a while back about how I would like to be able to set up triggers to take action on deposits -- a sort of IFTTT for your bank. It sounds like Standard Treasury ultimately could make this possible, which would be awesome. http://www.recursion.org/2013/3/23/webhooks-for-paychecks
Thanks for the link! We have this exact use case in mind, actually. Trigger based web hooks for transactions is definitely something a few people have mentioned to us and that we're talking to our bank partners about.
Cool, I will keep an eye out for announcements regarding this.
Re: Standard Treasury (YC S13) Aims To Make Software That Eats Commercial Banking
#33Earlier quoted context omitted.
'a' is fairly common, I believe. It's ubiquitous in Europe (typically no fee), and in the U.S., Bank of America will let you do an ACH transfer to any account in the U.S. for $3/transfer. Not sure what other banks' policies are.
Coming from Europe, I'm also used to exclusively using wire transfers for free. Not so much in the US. What's the difference between a wire transfer and ACH transfer? (Chase charges me about $19 for every outgoing/incoming wire transfer by the way).
Wire transfers are directly from one bank to another, and will go through same-day. ACH is like writing a check, but saves you having to handle the physical paper. It still goes through all the same automated batch processing as a check, so it takes a few days to clear.
Re: Standard Treasury (YC S13) Aims To Make Software That Eats Commercial Banking
#34Curious why their logo appears to be a downward-biased ticker with a negative color combination!
(I work on Standard Treasury).
Yes! We need a new logo. Know any good designers: https://news.ycombinator.com/item?id=6014763 ?
Re: Standard Treasury (YC S13) Aims To Make Software That Eats Commercial Banking
#35Good luck! I wrote a post a while back about how I would like to be able to set up triggers to take action on deposits -- a sort of IFTTT for your bank. It sounds like Standard Treasury ultimately could make this possible, which would be awesome. http://www.recursion.org/2013/3/23/webhooks-for-paychecks
Ooh, yes I love this idea. zt, when are you guys planning to make the API available to devs?
tbrooks, unfortunately it will be a couple of months until the products are ready for developers. Sorry! We're in contract negotiations and then we have to do the integrations. We might build sandboxes in a few weeks, but that only helps so much.
Re: Standard Treasury (YC S13) Aims To Make Software That Eats Commercial Banking
#36Good luck! I wrote a post a while back about how I would like to be able to set up triggers to take action on deposits -- a sort of IFTTT for your bank. It sounds like Standard Treasury ultimately could make this possible, which would be awesome. http://www.recursion.org/2013/3/23/webhooks-for-paychecks
Don't Mint basically provide at least the "email alert" section that you're looking for?
You can basically do all what you're after with scraping, though the banks may want you to keep it down to one scrape a day.
Re: Standard Treasury (YC S13) Aims To Make Software That Eats Commercial Banking
#37Sounds like a great idea! I wish you strength for the integration part, I do the same thing in the travel industry, the hidden complexity of these systems is absolutely incredible. People complain about win32, but this stuff is one step further. Most of it is still compatible with systems from the early 70s.. Welcome to the wonderful world of TTY, EDIFACT, TPF and all the rest :-)
Re: Standard Treasury (YC S13) Aims To Make Software That Eats Commercial Banking
#38Can someone from Standard Treasury comment on the security model they are using for these API's?
This question is one we're still answering with banks. The exact security model will likely differ slightly by bank, depending on their idiosyncratic wishes and standards. Also, the security model could be broken down in to (a) How do we talk to the banks (b) How is our system secured and (c) How do end-developers talk to our systems.
For the last one, which is what I think you're asking, it seems like our bank partners will settle on (1) a long, random, high-entropy API secret key (like Stripe) or SID/auth token combo (like Twilio) or (2) Both the secret key AND something like OAuth because banks really want multi-factor authorization. But again, nothing is set yet.
Re: Standard Treasury (YC S13) Aims To Make Software That Eats Commercial Banking
#39I'm really interested in a service that allows you to: a) transfer money between 2 bank accounts for a flat fee b) allows you to debit a bank account w/o any verification or micro-deposits
b) bitcoin it's not an accident that they make it so difficult. they are protecting massive revenue streams. bitcoin solves a lot of these problems by giving people real control over how to move money around. eventually bitcoin wallets will be easy and secure enough that while you might not pay your bills with it, you'll keep a running balance on it just like amazon or itunes credit.
> it's not an accident that they make it so difficult.
The easy direct funds transfers in other countries shows that it is an accident.
In Australia, opening a bank account requires applicants to show sufficient ID (the 100-points check[1]). It was intended to cut down on money laundering and tax evasion, but as a happy side effect banks have very high assurance about who money is moving from and to.
That means that direct deposits don't require the heavy validation that a cheque does. So such transfers are free and usually settle in 24 hours. Often the same day.