BankSimple: We have cards
As I understand it, banks make a large amount of revenues from fees and such. How will BankSimple succeed if it doesn't use that? How will overdrafts work? Will the check just not go through?<p>I love that they are trying to revolutionize the banking industry, and I wish them well. But I'm afraid that they'll succumb to adverse selection to the greatest degree. The reality is that most of a bank's customers are not profitable (without the fees), which is why they institute these ridiculous fees to either drive them off or make them profitable. If BankSimple can make these previously-unprofitable people profitable again without surprise fees, they'll be a great success.<p>Let's hope that happens.