break_the_bank

21 ms·

1. 211.▲
   by break_the_bank 8y ago

   Another unique suggestion that I couldn't possibly think of. I'm really overwhelmed by the response I got to this thread. I'll look into this.
2. 212.▲
   by break_the_bank 8y ago

   I have had the idea of looking at other countries before but I haven't put in time to figure out what countries I should be looking at. Will look into this.
3. 213.▲
   by break_the_bank 8y ago

   Thanks for the response :) I have read the news about the YES Bank CEO. I was hoping that they would be more relaxed with payment banks. I'll drop in a mail over the weekend. I saw you guys when I was in my third-fourth year of Univers
4. 214.▲
   by break_the_bank 8y ago

   "The simple concept to remember is: if you need $13M to start this business, it's a business you can't start right now; it's instead an opportunity for larger businesses" True. I should look at the smallest thing th
5. 215.▲
   by break_the_bank 8y ago

   Josh Elmans advice is really great advice. I'll try to contact the smaller banks that don't have a lot of debit card sales. Coming up with an "offer you cannot refuse" feels a little tough given its just the too of us wa
6. 216.▲
   by break_the_bank 8y ago

   The PayTM guys really took off with demonetization and they really rode the wallet wave.
7. 217.▲
   by break_the_bank 8y ago

   I'll look at this. I didn't think of this, I am a little skeptic about Reserve Bank of India allowing this. Thanks for the lead.
8. 218.▲
   by break_the_bank 8y ago

   True, the 13M isn't the fee but its money that you need to have to start a bank. You don't need to spend it but you need it in case you have some damages/reimbursements. I'm closely looking at partnering with a bank. I c
9. 219.▲
   by break_the_bank 8y ago

   I'm 23 and I just started working last year as a software engineer here in London. I don't see myself having a network that allows me to raise $13M in capital. Taking the longer route to creating a bank while working on something
10. 220.▲
    by break_the_bank 8y ago

    We are in the same boat. Are you from Africa but working in London/Europe? I am from India but I am working in London. I have identified millennials to be my main market as well. In India whenever I visited the bank with my father, the
11. 221.▲
    by break_the_bank 8y ago

    The idea is heavily borrowed from Monzo. A Payment Bank in India seemed like the closest thing to what Monzo did initially. A full banking license requires 5 times more capital than a payment bank. That is a good question. I'll see if
12. 222.▲
    Ask HN: How to start a startup that requires a high amount of initial capital?

    149 points by break_the_bank 8y ago|84 comments