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‘The tyranny of apps’: those without smartphones are unfairly penalised, say campaigners
(www.theguardian.com)
this post was submitted on 22 Feb 2025
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I'm shocked.
Right off the top of my head, I can mention an entire finacial institution that only exists through an app. No website, no physical locations, no nothing. It's one app and that is it.
No way would I use that app.
We're talking of what is, technically a bank (Moey), that entered my country through another bank. What is even stranger is that you can't even go to one of those banks and make a deposit on you account.
I use the services of what you can consider the most de-materialized bank in my country, which has less than twenty physical locations in the entire country, but they have a very robust help line and you can use the locations of another bank in the same group to deposit money to your account.
But Moey? Either the money is wired in or your stuck.
I mean I use Cashapp, but I could also not use it and my life wouldn't be much harder
I don't know what Cashapp is but I'm going to take the risk and say it's a fintech that handles direct money services. How off am I?
But I'm talking about a bank. The institution only exists through an app. Let's say you do a odd job and you get paid cash. You can't deposit that money: there is no place or way to do so.
A perfect description
Cashapp is also sort of an entirely online pseudo bank. There are places that let you deposit and withdraw cash, but they're like two steps above Bitcoin ATMs
I do know people who have these fully online banks though. On its own, it's a lot less convenient then just having an account with a local credit union where you can withdraw cash for free, and I really don't like that services like Venmo and Cashapp and Zelle are overtaking just handing physical dollar bills to each other