/// GoBank: It’s a Real Bank, and It’s Made by Real Internet People
Green Dot today launches the smartphone-based GoBank , which will have no overdraft or penalty fees, no minimum balance and a “pay what you feel is right” monthly membership fee. Let’s take a step back to set this up. Lots of startup types go about their lives in search of inspiration for something they can fix. “Banking!” they think. “Banking sucks! I hate all the fees and unfriendliness.” But then they realize that banking is really hard. To do it right, you have to actually officially be a bank, which takes years, even if you can find an existing bank to buy.
See the original post here:
GoBank: It’s a Real Bank, and It’s Made by Real Internet People