Hacker News Reader

A lot of that is dependent. Do you keep multiple copies of passwords around, which increases the chance that someone can get access to your account. Do you open multiple bank accounts and spend extra money when you have less than 400 dollars in it at any one time?

View on HN

In the U.K. we are getting challenger banks which are free. It’s super easy to open a new FREE account and spread your money around. You also get 2-3 diffeycards so even if you lose one or two you still have access to you money. Plus you can always transfer between accounts for free using their mobile apps.

It’s a pretty sweet deal so I’m wondering if there isn’t anything like that in the US. With SV I’d be very surprised if the U.K. is pioneering this

If the accounts are free and from different entities then it would make sense for most people to split things up, for sure.

Retail banking is pretty heavily regulated in the US so maybe that's the issue? I've seen a lot of startups in other banking areas, like Mint or Square, but none for checking/savings accounts.

There are plenty of free checking accounts in the US (with no minimum balances): Simple, Ally Bank, CapitalOne 360, Charles Schwab Bank, USAA, etc.

More here: https://www.moneycrashers.com/best-free-checking-accounts/

Reply on news.ycombinator.com