Hey!! I'm taking this as DAS should be able to send transfers between bank accounts, and not DAS becoming it's own bank (or being bought out by a bank to integrate with). Right now, I don't have plans to integrate transfers between bank accounts for several reasons. - Some users actually like that DAS is read-only and doesn't move money - Privacy & Security. DAS actually doesn't have your routing and account number so there is no risk here for bad actors - I'd have to fully understand where fault would lie if transfers do go wrong and understand transfers some more. e.g. what does a transfer mean? Chase -> DAS Budget Holding -> Bank of America? If so, how does that liability work since DAS isn't FDIC insured. What happens if the money gets lost. I could leverage other ACH transfer services (like Astra, Dwolla) but for now, I'm keeping it simple while I'm still building core budgeting features. BUT that's not to say down the road the if majority of users are asking for this feature and budgeting feature requests have slowed down that I wouldn't look further into this.
Anthony: In an ideal world for me, and I know a lot of others, the reason we loved simple is it was simple. I didn’t have to worry about more that what existed in simple for my finances. My intent with this is that at some point you could leverage a bank to partner with and we could use DAS as a bank too (obviously DAS is just the front end, and the bank would hold the liability, like Wave money or Qube). I would say Though being able to transfer would really solve an issue for me. I have awful ADHD, and like others in this arena I have to automate and KISS as many low hanging items as possible. So, if I have a vault, I can assign that vault to my banks savings account or if they allow multiple savings I could do that link to multiple vaults. Hope this helps, but I really do understand the lift and appreciate your feedback on DAS in this request :) you really do a great job with this app and glad you started working on it after simple went away.
Jeremy Jones: Ahh, I see (I reverted feature title lol) I don't think I'd be able to focus on integrating with a bank or DAS becoming a bank. Believe it or not, DAS is my single developer hobby/side project and I wouldn't have the capacity (or capital) to go ahead and turn to a partner bank and remove focus on core budgeting features. I work at Monzo (https://monzo.com/usa) and know what it takes to partner with a bank, and it's way easier said than done 😅. I also think part of the DAS charm is being able to work with ANY & multiple banks and not be stuck to a single one (and only budget for a single bank like Simple). If having the app as a core bank is a top priority feature (since DAS may never go this route) https://envelopemoney.com/ is an in-progress bank made by ex-Simple customers. I'm not sure if they'll support budgeting w/ multiple bank accounts or credit cards, but I do know they're going after the basic Simple budgeting features and trying to cover core banking features (checking, savings, etc) too. They're not release-ready yet, but do have a waitlist.
I forgot to mention (and also a shameless plug...), You can link Monzo into DAS (without it counting towards your institution limit) and get instant transaction updates in DAS. Monzo is the only bank that DAS directly reaches out to (thanks to their public API). All others are through Plaid & MX, so updates are as live as it gets. It won't solve the transfers b/w other accounts, but if having tight integration with a bank is part of your need, this could be a middle-ground for ya.
Anthony: I know you are the solo guy :) it’s lot so much a core feature I need, just strongly miss. It would be a nice option to have, not take over the app. Still having the other bank connections plus credit card is something I would still expect of this feature became available. I’ve run software development and other product development, so your hard solo work does not go unappreciated :) if this isn’t a valuable roadmap item for you I’m good with closing it. Just thought I would throw it out there.
Jeremy Jones: Thanks so much for understanding! Who knows if this thing would ever become a reality 🤷 Others have definitely asked and some surprisingly don't want DAS to become a bank (I'm guessing they're scarred from Simple). Feel free to read people's reactions from the earlier April Fool's :) https://www.reddit.com/r/dasbudget/comments/mhylzb/announcin…
Anthony: ya, I have a Monzo account, but no joint banking stops me from using it. Wife needs to be able to access money :)
But, Monzo having that API would be fantastic vs MX. if they opened a transfer API of some sort!
I'll also rename this request! Let me know If I've interpreted this wrong 😅