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Pushing Money to Debit Cards Using Balanced
- robbiet480 13y agoNice nice nice! Let's remember that Balanced was also part of YC, along with Stripe. Not sure why the title was changed to remove that fact.
- zende 13y agoThanks! I want to stay away from anything on Balanced v. Stripe though. We're trying to move the market forward and innovate.
- adam_cl 13y agoyes pleASE!~!!!!!!!
- arkonaut 13y agoWhat will the payout time be for it to hit the debit card? Is it instant? This is awesome by the way.
- zende 13y agoI didn't list the payout time because it varies by bank. It is instant (24/7) when we're able to go through an ATM network like STAR or PULSE. We'll learn a lot more during the development. ... and thanks for the support!
- dewolf416 13y agoShould be lower friction for our users!
- jordanmessina 13y agoThis would be a really big deal if it happens, essentially bringing Square Cash to the masses.
- Dwolb 13y agoCould I push to my own debit card for budgeting purposes? e.g. push $500 every month
- pulledpork 13y agoThat's a cool idea. If you combined it with a Coin style card that allowed you to switch cards on the fly you could not worry about blowing your budget.
- notahacker 13y agoI can believe there is a market for this service, but that doesn't say much for the average consumer's savviness Debit card numbers, designed to take money out of your account, are what fraudsters want and have compliance policies so strict even bank employees usually don't get access to the full string. Account details are less useful to fraudsters and generally printed all over communications from banks, including the checks and remittance advice handed to third parties. So why would rational people prefer the latter, particularly if it involves paying a premium? Is it another startup whose usefulness stems in a large part from the lack of ubiquitous free, same-day interbank payments between checking accounts in the US (unlike much of the rest of the developed world)?
- zende 13y agoYou can also take money from a bank account using an account number and routing number. That's why Donald Knuth stopped sending out checks to pay bounties.[1] > Is it another startup whose usefulness stems in a large part from the lack of ubiquitous free, same-day interbank payments between checking accounts in the US (unlike much of the rest of the developed world)? Partly but not all. [1] http://en.wikipedia.org/wiki/Knuth_reward_check http://en.wikipedia.org/wiki/Knuth_reward_check
- Charybdis 13y agoI'm probably not the first to think of this, but it'd be awesome to be able to sell bitcoin and have the fiat appear in your account instantly.
- financeguy 13y agoA couple of commercial services exist like this today. Repayonline.com and adaptivepayments.com have similar services. I believe one of them is the engine behind square cash. How will this be different, other than price and the open source angle? Will it be limited to the same contract negotiations bank-by-bank or network-by-network?