Ive been thinking of a great idea

[noral]

Well i than had this idea in my head for awhile now. With today's bad economic situation more and more people are defaulting in the bank accounts. Well I want to start an online bank for people who ended up in chexsystems and cannot get a bank account with a traditional bank. I would start in the Chicago/Illinois area first to see how things would go then would take the bank national Here's how i would profit from this.

Charge a 0.25 to 0.50 fee per transaction, 60.00 fee for overdraft charges and a 100.00 fee for a 2nd overdraft. Reason fee is so high is because these are high risk accounts and the reason someone is banking with us is because of they are in chexsystems. Also a service fee of 4.99 to 8.99 a month. Also a fee to open up an account of 3.99

But thing is for one this is an idea i don't know how i would start this. I want all my banking to be done online without a branch, this would be a national bank but thing is how the customer would deposit there money and to get FDIC insured.

So if anyone have any input about this let me know

[diknox00]

Not a bad idea, but you are borderline gauging consumers. Furthermore, prepaid cards like Account Now act and behave the same way (click here to get one for free)

The cards have great utility. They give you a routing and account number and allow direct deposit. Keep in mind that companies like these would be your chief competitors in this space.

Good luck and Best wishes,

Martez

[Gunnar]

AccountNow and other similar cards are basically just a rip off. You get charged setup fees, monthly fees, and a percentage taken from every deposit. But the banking service you're proposing sounds like even more of a rip-off, so no reason to choose you over AccountNow.

And by the way, even if you're on ChexSystems it's not hard to open a bank account. I'm listed on it and was able to open a free checking account at Wachovia with no problem. If you go in person to open an account, most banks wont care about CheckSystems.

[benmaxime]

E-trade
Its not a new idea sorry

[Gaulkin]

lol, you want to start a what?

[Warranties-For-Less]

Well i than had this idea in my head for awhile now. With today's bad economic situation more and more people are defaulting in the bank accounts. Well I want to start an online bank for people who ended up in chexsystems and cannot get a bank account with a traditional bank. I would start in the Chicago/Illinois area first to see how things would go then would take the bank national Here's how i would profit from this.

Charge a 0.25 to 0.50 fee per transaction, 60.00 fee for overdraft charges and a 100.00 fee for a 2nd overdraft. Reason fee is so high is because these are high risk accounts and the reason someone is banking with us is because of they are in chexsystems. Also a service fee of 4.99 to 8.99 a month. Also a fee to open up an account of 3.99

But thing is for one this is an idea i don't know how i would start this. I want all my banking to be done online without a branch, this would be a national bank but thing is how the customer would deposit there money and to get FDIC insured.

So if anyone have any input about this let me know

Sorry, but even before all the banking fraud and bailouts, it was near impossible to start a bank, I tried ten years ago when it was easy, and when you see all the red tape, you won't go forward with idea, just as I didn't.

Success to all,

[akula]

lol, you want to start a what?

that's what i said lol