On: A Bank for Student Hackers

[zachlatta]

Fortunately we're not acting as a money transmitter, but rather as a fiscal sponsor - see https://en.wikipedia.org/wiki/Fiscal_sponsorship.

A very common practice in the non-profit world, but very much not something that is accessible to students. Most fiscal sponsors out there are very bureaucratic and not set up to handle short-term engagements like hackathons.

[Sangermaine → zachlatta]

You've had an attorney with experience in this area confirm and help establish (e.g., by drafting the sponsorship contract) this arrangement?

[zachlatta → Sangermaine]

Yup, we're working with a non-profit law firm here.

[zbruhnke → zachlatta]

Hey Zach, if you want to open bank accounts with an API and be able to provide real time balances to your users ping me ... I can help make that a reality