NEVER DO THIRD PARTY MIDDLEMAN BUSINESS.
Thanks. Good article. I just sent it to my three kids telling them to be wary of FinTech.
I’m not sure why younger people are attracted to FinTech. We use a major established (large) bank and have several Visa credit cards at Chase and a MasterCard at Capital One. I use Apple Pay for most of my retail transactions. All have great electronic banking features that have been solid, fast and accurate.
Dummies think they are smarter than anyone.
They fall for foolish flashy things
And then want us to bail them out
If your banking account has you playing weekly sweepstakes, it is not focused on it's primary job.
I know, I am dull, don't know how to have fun and a total kill joy but for the love of mike, there are some things in life that are actually important and should be treated with a bit of seriousness.
Your pacemaker should not include a app that allows you to play the slots either.
Better off going with “Fred’s Bank”
“Hi, I’m Fred, I have a bank. You got $1,500? . . . ahhh, I’ll put it here . . . in my white suit.”
There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors are owed, according to the court-appointed trustee in the Synapse bankruptcy.
Customers of fintech firms that used Synapse to link up with banks had $265 million in balances.
But the banks themselves only had $180 million associated with those accounts, trustee Jelena McWilliams said in a report filed late Thursday.
What’s worse, it’s still unclear what happened to the missing funds, she said.
$85 million shortfall and *nobody knows* where it is…
Cha-ching!!!
🫣 🤑 🤣
BTT