

Pushing Money to Debit Cards Using Balanced - zende
https://balanced.crowdhoster.com/let-s-push-to-debit-cards

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jordanmessina
This would be a really big deal if it happens, essentially bringing Square
Cash to the masses.

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notahacker
I 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)?

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zende
You 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)

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arkonaut
What will the payout time be for it to hit the debit card? Is it instant? This
is awesome by the way.

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zende
I 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!

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financeguy
A 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?

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dewolf416
Should be lower friction for our users!

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Charybdis
I'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.

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Dwolb
Could I push to my own debit card for budgeting purposes? e.g. push $500 every
month

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pulledpork
That'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.

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adam_cl
yes pleASE!~!!!!!!!

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robbiet480
Nice 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.

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zende
Thanks!

I want to stay away from anything on Balanced v. Stripe though. We're trying
to move the market forward and innovate.

