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wtg
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posted
quote:
A Banking App Has Been Suddenly Closing Accounts, Sometimes Not Returning Customers’ Money

Chime, a “neobank” serving millions, is racking up complaints from users who can’t access their cash. The company says it’s cracking down on an “extraordinary surge” in fraudulent deposits. That’s little consolation to customers caught in the fray.


https://www.propublica.org/article/chime


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We are all visitors to this time, this place. We are just passing through. Our purpose here is to observe, to learn, to grow, to love… and then we return home. - Australian Aboriginal proverb

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Posts: 37871 | Location: Somewhere in the middle | Registered: 19 January 2010Reply With QuoteReport This Post
big al
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Will we be returning to the Depression-era practice of stashing our spare cash under the mattress?

i am assuming that Chime is a real bank and that FDIC guarantees apply to any deposits, but I don't know for sure if this is the case.

Big Al


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Money seems to buy the most happiness when you give it away.

Why does everything have to be so complicated, all in the name of convenience. -ShiroKuro

A lifetime of experience will change a person. If it doesn't, then you're already dead inside. -MarkJ

 
Posts: 7398 | Location: Western PA | Registered: 20 April 2005Reply With QuoteReport This Post
Doug
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quote:
Originally posted by big al:
Will we be returning to the Depression-era practice of stashing our spare cash under the mattress?

i am assuming that Chime is a real bank and that FDIC guarantees apply to any deposits, but I don't know for sure if this is the case.

Big Al


Chime is not a bank. They’re a technology company that interfaces with banks.
 
Posts: 10334 | Registered: 20 April 2005Reply With QuoteReport This Post
ShiroKuro
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quote:
Chime is not a bank. They’re a technology company that interfaces with banks.


Yikes, that’s a super important distinction.

I’m glad I’ve remained very conservative and old fashioned about banking, so no “neobanks” for me!


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My piano recordings at Box.Net: https://app.box.com/s/j4rgyhn72uvluemg1m6u

 
Posts: 18429 | Location: not in Japan any more | Registered: 20 April 2005Reply With QuoteReport This Post
Steve Miller
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Ugh. I’m not sure about any of this.

I pay by check in 30 days like God intended. Now a bunch of these younger guys I deal with want pay by phone. Venmo. Zelle. A few use PayPal but they’ve started collecting big fees and have fallen out of favor.

The whole thing makes me nervous. Zelle goes through my bank and it seems fairly safe, but Venmo is the wild wild West as far as I can tell. Maybe they send money when I tell them to and maybe they just send money to whoever they want to at any given time. I am pretty sure I don’t like any of it.

And I am equally sure this is how business will be done going forward.


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Life is short. Play with your dog.

 
Posts: 34916 | Location: Hooterville, OH | Registered: 23 April 2005Reply With QuoteReport This Post
ShiroKuro
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I agree with you Steve! Ugh!!

Use Zelle but so far only with family. I feel ok about it bc it’s directly associated with my bank.

Mr. SK gets some payments through Venmo, he’s had zero problems so far.

Oh and I pay my piano teacher thru PayPal, almost forget about that!


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My piano recordings at Box.Net: https://app.box.com/s/j4rgyhn72uvluemg1m6u

 
Posts: 18429 | Location: not in Japan any more | Registered: 20 April 2005Reply With QuoteReport This Post
Axtremus
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I am generally OK with direct deposits to bank accounts, old fashioned paper cheques, and sometimes PayPal. Lately I have an HVAC contractor who asked to be paid using Zelle. Since this contractor has done many jobs for me and we know each other well, I figure OK, and he confirmed receipt pretty much within minutes.


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www.PianoRecital.org -- my piano recordings -- China Tune album

 
Posts: 12688 | Registered: 01 December 2006Reply With QuoteReport This Post
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