BankSimple concept moving forward
As reported today in Bloomberg BusinessWeek, entrepreneuer Josh Reich is moving ahead with his BankSimple idea, which is meant to be an antidote to big banks like Chase and will have features like
- No branches (yes, this is a feature)
- Access to a large network of ATM’s
- Smartphone optimized access
- No overdraft fees
- Earn interest at above average rates
- Smartphone notification system for debit transactions – you get notified of every transaction so you will know the second fraud occurs
The motto for BankSimple is “BankSimple isn’t bank becasue banks suck.”
The plan is to begin serving an initial 10,000 customers this Fall.
Interesting | admin July 8, 2010
