Programmable bank account Root launching next year

Hamster

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I can't wait for these to mature. I have all these features I want ony bank account/credit card that banks just won't implement... I'll just do it myself :)
 

silkenphoenixx

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Dec 11, 2006
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I can't wait for these to mature. I have all these features I want ony bank account/credit card that banks just won't implement... I'll just do it myself :)
I'm curious to find out what kinds of features that you'd like to implement?
 

C4Cat

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I'm curious to find out what kinds of features that you'd like to implement?
Instead / in addition to an sms every time I transact I would like it to notify my expense tracking app (which I'll make) so it's automatically categorised and always up to date and can notify me of approaching budget limits etc
 

backstreetboy

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And just what the hell does cost have to do with anything?

EDIT: Assume for a moment that everybody isn't poor before you answer.
All of it I guess.

Sending their transaction data to a Google Sheet in real-time, to make budgeting easy.Limit the days on which they can buy fast food, as part of a diet plan.Create a dedicated card and budget for Uber rides.
I can do all of that already with 22seven, VCpay and/or Entropay.
 

C4Cat

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All of it I guess.

I can do all of that already with 22seven, VCpay and/or Entropay.
Don't know about the others but the difference between this and 22seven is that with 22seven you have to give them your online banking login details and allow them to have access to your account so they can download your statements. It's also not real time, 22seven won't be updated immediately when a transaction occurs but only when you login, or if you setup polling when it polls once a day (or however often it happens). Also you can't customise it programmatically
 

backstreetboy

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Don't know about the others but the difference between this and 22seven is that with 22seven you have to give them your online banking login details and allow them to have access to your account so they can download your statements. It's also not real time, 22seven won't be updated immediately when a transaction occurs but only when you login, or if you setup polling when it polls once a day (or however often it happens). Also you can't customise it programmatically
It can happen whenever as with Luno and their API etc.
 

Hamster

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I'm curious to find out what kinds of features that you'd like to implement?
I've asked FNB many a time to "fix" one of their half arsed implementations ...now I'll fix it my self by writing my own. Not gonna divulge stuff here because maybe I monetize it
 

Hamster

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All of it I guess.
If you really cared about fees that much you'd have gone with FNB/eBucks and had the account for free plus groceries at a discount. So stop with the Capitec and Virgin Money crap. They're simply not that cheap if you have a lot of debit orders and transfers happening every month...they are lying to you.
 

C4Cat

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It can happen whenever as with Luno and their API etc.
22seven doesn't have an API and only logs into your account once a day. Anyway it's not the same, and as a developer, I find this idea of root to be quite exciting... I was never comfortable giving a company all my login details for all my bank accounts, although I did join 22seven in the end, this would be a much better solution
 

Bryn

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I don't think Root will ever make it to Australia. :p
 

backstreetboy

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So stop with the Capitec and Virgin Money crap. They're simply not that cheap if you have a lot of debit orders and transfers happening every month...they are lying to you.
I don't have any debit orders or so many transfers happening every month so not sure what you mean :confused:
 

krycor

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Sounds pretty good ie API.. just wonder what the limitations would be and restrictions on data & time for response etc.

As to what u could do.. well a lot. One of many examples would be turning standard cards into fleet cards with processing for time of day allowances on store, type of store(manual like 22Seven ie crowd sourced categorization), fuel purchases sort of (you won’t get the detailed tran record like fleet but can pickup service station name), gps based 2-factor auth and/push auth/pre-auth for transactions, real-time budgeting (as in article), real-time pre/authorizing of 2ndary card transactions, etc

Basically a lot depends on processing time limits and data allowed to pass thru your 3rd party app.
 
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