Elon Musk gives X employees one year to replace your bank - ‘You won’t need a bank account... it would blow my mind if we don’t have that rolled out by the end of next year.’
theverge.com
“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
Well that sounds terrifying!
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For parts of the world 'free bank' and 'free transfers' are just the norm anyway. I'm amazed it isn't the case in the US already.
They still use paychecks…
Not the only thing they're stuck in the past on...
What is the alternative to a paycheck? Most Americans get the money deposited directly to their bank account anyway, there's no actual paper check involved.
It's always crazy to be reminded this. The banks make money from your savings and your debt with them, they don't need to be double or triple dipping on charging you for the privilege of letting them do that or sending it to somewhere else to do the same