Your Bank Charges $200/Year. Neobanks Don’t.

Check your bank statement. Not the balance — the fees. Monthly maintenance charges, ATM withdrawal penalties, overdraft fines, minimum balance fees. Most people scroll past them without a second thought. That’s exactly what traditional banks are counting on. US banks collected $15.5 billion in overdraft and NSF fees in a single year, according to a … Read more

The Death of KYC: Entering the Era of ‘KYA’ (Know Your Agent)

The grammar of finance is being rewritten in real-time. For decades, the cornerstone of banking has been KYC (Know Your Customer)—the tedious process of proving “I am who I say I am” with a physical ID. But we are moving into a world where you aren’t the one making the trades or paying the bills. … Read more