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I don't get it. I don't get the point of it. Searching through a list of things? How is that making my banking simpler? It seems to have turned into a credit c

I don't get it. I don't get the point of it. Searching through a list of things? How is that making my banking simpler? It seems to have turned into a credit card statement search & visualisation engine.

pingswept 15y ago
That seems like a fair description to me, but that's exactly what my bank sucks at.
- Q6T46nT668w6i3m 15y ago
  Yeah, that's why we showed what we did. While we also have the banking features you'd expect, e.g. payments and such, we were presenting in front of an industry crowd who are most likely already familiar with said core features but not search or visualization.
  - joelhaus 15y ago
    Very nice UI... any chance we'll see (i) a remote deposit mobile app without deposit limits and (ii) integration with Google Wallet?
    - bergie 15y ago
      I don't think a bank should ever have a mobile app instead of a nicely done web interface. Would you really want to use a bank that only works on iPhone? There have been countless situations where I've had to make transactions in an internet cafe or using a friend's computer.
      - jordanlev 15y ago
        Sounds like you've never experienced the joys of depositing checks by taking pictures of them on your phone. I do this now with my current bank and it's awesome. (And I don't think anyone is suggesting that the website is replaced with an app, but rather that the app would supplement the website).
        bergie 15y ago
        You know, the only times in my life I've even seen a check have been when dealing with some US company (which is rarely). I have to admit being greatly amused with the combination of really old and really new that you have in using mobile apps to handle checks.
        Roedou 15y ago
        A Brit here, who has recently established a (B2B) company in the US. The check thing really surprised me too. The USA still loves checks: we receive them for most of the work we do, and make a lot of our payments that way. From a personal perspective, I rarely use checks, except (and this blew my mind) I can set up a regular payment through my bank's website to a recipient. If the recipient's bank is on a similar system, the transactions are made digitally. If not, then they automatically mail a check each month. Transparent to me, but seriously.
        jarek 15y ago
        Sounds like you've never experienced the joys of free, instant wire transfers. Taking pictures of cheques? Are you going to telegraph them after?
        jonknee 15y ago
        Free wire transfers are great, but what does that do for you when you have a check in your hand? How about both?
        jarek 15y ago
        Why would you have a cheque in your hand if you and everyone else have the option of using wires?
        jonknee 15y ago
        A) not everyone does yet B) with a check you don't have to get any information from who you're paying other than the name.
      - throwaway6326 15y ago
        I use USAA which has a web interface, a mobile web interface, an iPhone app and an Android app. It's fantastic to be able to deposit checks by taking a picture of both sides instead of driving someplace, or throwing something in the mail.
        sanswork 15y ago
        If you're going to spam the thread with USAA recommendations you could at least avoid using a throwaway account and do it openly so that we can see your motivations.
        pingswept 15y ago
        Assuming you aren't just spamming on behalf of USAA, or even if you are: can any USAA customer deposit checks by taking a picture of both sides? I thought that was only if you had some sort of connection to the US military, no?
        PotatoEngineer 15y ago
        Yes, you can deposit checks by taking pictures. (I'm not the throwaway account above, but I do have a USAA account through my father-in-law, who's retired Navy. And yes, you need a US military connection to get an account there.) Personally, I deposit checks via my scanner, but that's just because I don't have a smartphone. But I don't vastly care, because I deposit a check about... once every three months? (The flip side of USAA is that they have no branches, if you ever need to talk to a human in person. Phone support, yes, in spades; branches, no.)
        pingswept 15y ago
        I have no military connection, but I have a USAA account. My understanding is that the check-deposit-via-photo feature is only available to customers with US military connections, but I'm looking for confirmation of that. (The USAA website is vague about the details.)
        tentonwire 15y ago
    - Q6T46nT668w6i3m 15y ago
      We're currently working on remote capture, more details are forthcoming.
johnc 15y ago
You don't get it. You probably track your budget to the cent in Excel. This service is not for you.
- sambeau 15y ago
  I agree. Current banks and banking systems work well for people who are good with money. This type of system that helps you put money aside for bills and makes saving up for something really simple is fantastic for people who aren't good with money. It's Money Management for Mere Mortals™…
  - bergie 15y ago
    For tracking money in Excel or whatever, a read-only API would also be nice
    - Q6T46nT668w6i3m 15y ago
      I agree, we're working on it (I'm also committed to writing an R wrapper in my free time).
bradly 15y ago
I am constantly frustrated when I try to find transactions more than 3 months old in both my bank accounts. The main reason I keep my Mint account is to be able to search my old transactions.
- guelo 15y ago
  Why do you need to constantly search your old transactions?
rudiger 15y ago
"No wireless. Less space than a nomad. Lame."
- sambeau 15y ago
  I agree. All banks will work like this within 10 years.
  - spokengent 15y ago
    FWIW, Banks in for example the UK, already do. It constantly surprises just how far behind the US is in several areas.
    - sambeau 15y ago
      No they don't. I'm in the UK and I know of no bank that offers these services. Did you actually watch the video? Which bank allows you to: * Hide money from your main balance for bills and savings * Create automatic savings accounts on-the-fly for individual items * plot where each of your transactions occurred on a map etc I'm with Lloyds who have one of the best online banking experiences and it's in the stone age compared to this.
      - bergie 15y ago
        That would be a cool feature, throwaway savings accounts where you can say: put 2€ in this account every day until it has enough balance to buy an iPad Even better: ...and then buy it
AndyKelley 15y ago
Did you see the part about how goals work and safe-to-spend? That was pretty slick.
pchristensen 15y ago
After watching the video, it reminds me of the iPad. Doesn't do anything you couldn't do before, but it does it faster and in a more attractive and pleasing way. These improvements are so great that it becomes a qualitatively different experience. This looks about as much nicer than Mint as Mint does than my bank website, and that counts for a lot to me. I'm eagerly awaiting a chance to try them out for myself.
- maxklein 15y ago
  Let's compare it to the iPod, for example. Before the iPod, I played music. After the iPod, I played music - but in a more convenient way. After this app, I can search my statements in a convenient way. The problem is that right now I am not searching my statements at all. They seem to be solving a problem that I have not had so far.
  - generalk 15y ago
    I liken it more to a smartphone: before I had high-quality internet access in my pocket, I didn't care about it. It wasn't a problem I was looking to solve or a want I had. Now that I can search Wikipedia or Google at a moment's whim, I find myself confused when I don't have it. BankSimple may turn out like this: hardly anyone does this kind of searching and organizing of their bank statements because it simply hasn't been easy enough for anyone to care. Once it is, you might not want to go back.
  - ThomPete 15y ago
    You are missing the very important difference. Bank Simple can automatically track and categorize how you use your money and thus visualize it for you. You didn't used to do this because it was not possible. The same thing with expense tracking. Believe me. It's a very powerful feature. I know I have created it for one bank already and seen how the customer satisfaction exploded. Not everything is a better solution to something that existed before. Sometimes innovation is going to allow you to do things you could never really do before.
- sambeau 15y ago
  I almost totally agree: I think the secret to the iPad's success was it's simplicity rather than being more attractive and pleasing.
al3x 15y ago
(I'm a co-founder of BankSimple.) Our easily-searchable transaction list is just one feature. That feature alone wouldn't make it work switching. What we're doing is holistic: it's about taking every part of the banking experience, from technology to customer service, and making it better. What we demoed today was just the beginning. And some of what we're doing doesn't really demo well; it's intangible.

pingswept 15y ago

That seems like a fair description to me, but that's exactly what my bank sucks at.

Q6T46nT668w6i3m 15y ago
Yeah, that's why we showed what we did. While we also have the banking features you'd expect, e.g. payments and such, we were presenting in front of an industry crowd who are most likely already familiar with said core features but not search or visualization.
- joelhaus 15y ago
  Very nice UI... any chance we'll see (i) a remote deposit mobile app without deposit limits and (ii) integration with Google Wallet?
  - bergie 15y ago
    I don't think a bank should ever have a mobile app instead of a nicely done web interface. Would you really want to use a bank that only works on iPhone? There have been countless situations where I've had to make transactions in an internet cafe or using a friend's computer.
    - jordanlev 15y ago
      Sounds like you've never experienced the joys of depositing checks by taking pictures of them on your phone. I do this now with my current bank and it's awesome. (And I don't think anyone is suggesting that the website is replaced with an app, but rather that the app would supplement the website).
      - bergie 15y ago
        You know, the only times in my life I've even seen a check have been when dealing with some US company (which is rarely). I have to admit being greatly amused with the combination of really old and really new that you have in using mobile apps to handle checks.
        Roedou 15y ago
        A Brit here, who has recently established a (B2B) company in the US. The check thing really surprised me too. The USA still loves checks: we receive them for most of the work we do, and make a lot of our payments that way. From a personal perspective, I rarely use checks, except (and this blew my mind) I can set up a regular payment through my bank's website to a recipient. If the recipient's bank is on a similar system, the transactions are made digitally. If not, then they automatically mail a check each month. Transparent to me, but seriously.
      - jarek 15y ago
        Sounds like you've never experienced the joys of free, instant wire transfers. Taking pictures of cheques? Are you going to telegraph them after?
        jonknee 15y ago
        Free wire transfers are great, but what does that do for you when you have a check in your hand? How about both?
        jarek 15y ago
        Why would you have a cheque in your hand if you and everyone else have the option of using wires?
        jonknee 15y ago
        A) not everyone does yet B) with a check you don't have to get any information from who you're paying other than the name.
    - throwaway6326 15y ago
      I use USAA which has a web interface, a mobile web interface, an iPhone app and an Android app. It's fantastic to be able to deposit checks by taking a picture of both sides instead of driving someplace, or throwing something in the mail.
      - sanswork 15y ago
        If you're going to spam the thread with USAA recommendations you could at least avoid using a throwaway account and do it openly so that we can see your motivations.
      - pingswept 15y ago
        Assuming you aren't just spamming on behalf of USAA, or even if you are: can any USAA customer deposit checks by taking a picture of both sides? I thought that was only if you had some sort of connection to the US military, no?
        PotatoEngineer 15y ago
        Yes, you can deposit checks by taking pictures. (I'm not the throwaway account above, but I do have a USAA account through my father-in-law, who's retired Navy. And yes, you need a US military connection to get an account there.) Personally, I deposit checks via my scanner, but that's just because I don't have a smartphone. But I don't vastly care, because I deposit a check about... once every three months? (The flip side of USAA is that they have no branches, if you ever need to talk to a human in person. Phone support, yes, in spades; branches, no.)
        pingswept 15y ago
        I have no military connection, but I have a USAA account. My understanding is that the check-deposit-via-photo feature is only available to customers with US military connections, but I'm looking for confirmation of that. (The USAA website is vague about the details.)
        tentonwire 15y ago
  - Q6T46nT668w6i3m 15y ago
    We're currently working on remote capture, more details are forthcoming.

johnc 15y ago

You don't get it. You probably track your budget to the cent in Excel. This service is not for you.

sambeau 15y ago
I agree. Current banks and banking systems work well for people who are good with money. This type of system that helps you put money aside for bills and makes saving up for something really simple is fantastic for people who aren't good with money. It's Money Management for Mere Mortals™…
- bergie 15y ago
  For tracking money in Excel or whatever, a read-only API would also be nice
  - Q6T46nT668w6i3m 15y ago
    I agree, we're working on it (I'm also committed to writing an R wrapper in my free time).

bradly 15y ago

I am constantly frustrated when I try to find transactions more than 3 months old in both my bank accounts. The main reason I keep my Mint account is to be able to search my old transactions.

guelo 15y ago
Why do you need to constantly search your old transactions?

rudiger 15y ago

"No wireless. Less space than a nomad. Lame."

sambeau 15y ago
I agree. All banks will work like this within 10 years.
- spokengent 15y ago
  FWIW, Banks in for example the UK, already do. It constantly surprises just how far behind the US is in several areas.
  - sambeau 15y ago
    No they don't. I'm in the UK and I know of no bank that offers these services. Did you actually watch the video? Which bank allows you to: * Hide money from your main balance for bills and savings * Create automatic savings accounts on-the-fly for individual items * plot where each of your transactions occurred on a map etc I'm with Lloyds who have one of the best online banking experiences and it's in the stone age compared to this.
    - bergie 15y ago
      That would be a cool feature, throwaway savings accounts where you can say: put 2€ in this account every day until it has enough balance to buy an iPad Even better: ...and then buy it

AndyKelley 15y ago

Did you see the part about how goals work and safe-to-spend? That was pretty slick.

pchristensen 15y ago

After watching the video, it reminds me of the iPad. Doesn't do anything you couldn't do before, but it does it faster and in a more attractive and pleasing way. These improvements are so great that it becomes a qualitatively different experience. This looks about as much nicer than Mint as Mint does than my bank website, and that counts for a lot to me. I'm eagerly awaiting a chance to try them out for myself.

maxklein 15y ago
Let's compare it to the iPod, for example. Before the iPod, I played music. After the iPod, I played music - but in a more convenient way. After this app, I can search my statements in a convenient way. The problem is that right now I am not searching my statements at all. They seem to be solving a problem that I have not had so far.
- generalk 15y ago
  I liken it more to a smartphone: before I had high-quality internet access in my pocket, I didn't care about it. It wasn't a problem I was looking to solve or a want I had. Now that I can search Wikipedia or Google at a moment's whim, I find myself confused when I don't have it. BankSimple may turn out like this: hardly anyone does this kind of searching and organizing of their bank statements because it simply hasn't been easy enough for anyone to care. Once it is, you might not want to go back.
- ThomPete 15y ago
  You are missing the very important difference. Bank Simple can automatically track and categorize how you use your money and thus visualize it for you. You didn't used to do this because it was not possible. The same thing with expense tracking. Believe me. It's a very powerful feature. I know I have created it for one bank already and seen how the customer satisfaction exploded. Not everything is a better solution to something that existed before. Sometimes innovation is going to allow you to do things you could never really do before.
sambeau 15y ago
I almost totally agree: I think the secret to the iPad's success was it's simplicity rather than being more attractive and pleasing.

al3x 15y ago

(I'm a co-founder of BankSimple.) Our easily-searchable transaction list is just one feature. That feature alone wouldn't make it work switching. What we're doing is holistic: it's about taking every part of the banking experience, from technology to customer service, and making it better. What we demoed today was just the beginning. And some of what we're doing doesn't really demo well; it's intangible.