Source: NYTimes

Shamir Karkal, left, and Josh Reich, center, the founders of Simple. Source: NYTimes

 

Viable solution for people fed up with banks

Direct your browser at this NY Times article written by Jenna Wortham if you need financial services and have come to the conclusion that we don’t need banks to carry on.

  1. Listening to empty promises makes you feel uneasy.
  2. Simple is a sophisticated iPhone/iPad app for all your financial transaction needs.
  3. Simple has processed transactions worth more than $200 million within the first year of starting up
  4. Simple has the backing of prominent venture capital firms including Shasta Ventures, SV Angel and IA Ventures and has raised more than $13 million.
  5. CBW Bank and Bancorp, federally insured banks, to hold its customers’ money.

 

Are Simple’s banking partners good or evil?

All I wish to do with a traditional bank account is transactions and get cash from teller machines. So Simple is for me (if it were available in Germany). If you wish to dig deeper and see if you can trust the business of supporting CBW Bank, you will have to do your own research or check questions answered on Quora.

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