Comment by jsm386 | Hacker News Reader

Comment by jsm386 | Hacker News Reader

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Obviously different banks have different issues but Chase (third largest US by deposits) already does everything in that vision. I really don't get Bank Simple. Integrating planning in a way that looks like Mint is nice, but Mint brings in your other accounts - and if they are trying to out Mint Mint, that is a pretty tall challenge. I can't speak for other banks but I don't see anything special here.

- The plain simple language bullet admits that of course there will always be legalese

- Real support. I've never had trouble at any hour getting a human being on the phone, empowered to deal with my issues. Facetiming or Skyping with my bank? I really don't see the point.

- Mobile from the ground up - Chase has great mobile apps that allow you to deposit checks by taking a photo. I believe other banks do as well and it seems like this will probably be pretty standard going forward.

- No fees. In four years I've been hit with a surprise fee once. It has been resolved.

"We provide access to the largest fee-free nationwide ATM network and our mobile app will locate an ATM closest to your current location." Not sure what that network is but is it more ATMs than Chase or BofA or Wells Fargo have?

largest fee-free nationwide ATM network

That's gotta be Allpoint. They run nearly all of the non-bank ATMs (Think: 7/11, pharmacies, gas stations). ING Direct has the same deal: http://app.ingdirect.com/atmlocate/index.html

That's actually a significantly worse deal than the banks and credit unions that refund ATM fees (to a point) so you can use literally any ATM on any network.

Agreed, I have an online savings account from HSBC and they even refunded a $5 ATM fee from a Vegas casino. I just make sure to carry that ATM card with me for the cases where I need money and can't get to my bank's ATMs, and this or the Ing product don't add anything to that.

I have an ING Direct account, and I've never been terribly happy with the allpoint ATM's. They tend to .. not look trustworthy. When you've got an awful looking ATM tucked away in a corner somewhere, I really don't want to give it all my account info.

1) their intent is to do for banking what mint did for financial information. mint wasn't the first site to do what it did, it just did it very well and sold itself well. banksimple isn't looking to solve the backend of banking, their sales pitch is a good user experience and customer support structure.

2) just because you don't have those problems doesn't mean that others don't. in the past 4 years, i've probably hit upon each of those problems. perhaps they aren't enough of a pain point for me to switch away from my bank, but they're valid points nonetheless.

3) their ATM network is the largest because its any ATM (i believe, based on what i've read). use their card in any ATM and they waive all fees. this exists in some other cards already, though usually in a limited capacity (my HSBC card waives the first 3 ATM transaction fees iirc)

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