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Betting consumers are tired of bad bank behavior, Aspiration raises $47 million for its alternative

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A bank offers a service and charges an amount for the service which the consumer agrees to pay. This has to be stopped.



Everything from overdraft fees to late payment fines to ATM fees are the cash cows for retail banks, says Cherny. “Those moments when the customer is feeling pain is when the banks make their money,” he says. But they also make money off of selling products that consumers don’t actually need (and in the case of Wells Fargo, those banks might not even sell you a product).


Edited by cv91915

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“If we can start driving people to spend in a way that puts ethics at the core of their daily spending decisions you can totally transform the incentives that companies have when it comes to how they treat the environment and how they treat their employees,” said Cherny.


Ethics? If you pay the bill, it's ethical. There's nothing unethical about buying gasoline or tires for your car, or buying groceries at one store or another. What a silly, useless concept.


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“If we can start driving people to spend in a way that puts ethics at the core of their daily spending decisions you can totally transform the incentives that companies have when it comes to how they treat the environment and how they treat their employees,” said Cherny.

Ethics? If you pay the bill, it's ethical. There's nothing unethical about buying gasoline or tires for your car, or buying groceries at one store or another. What a silly, useless concept. [/size]

 

Not completely useless ... at least for Andrei Cherny. He will suck a few $m out of investor money to pay himself for laying this turd before it eventually flushes.

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I'm holding out for them to start offering a Starbucks gift card or a Chipotle coupon for opening a new account. Or maybe some carbon credits.

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Aspiration is another one of these debit cards.  I should have my head examined for how many I've opened.  This one is the same as the rest, so I'm not going for it, unless of course, they have some sort of $1,000 opening bonus for opening a $10 account.

Anyway, all these companies will say they're disrupting the industry, when it's just more of the same.

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Aspiration is another one of these debit cards.  I should have my head examined for how many I've opened. 


What will the exam reveal that you don’t already know? :-)

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