Throughout the course of time, the US banking system has gone largely unchanged. There have been a variety of micro-evolutions – from cash to check, check to debit, and the like – but the way we interact with banks has remained much the same. Many people take comfort in the fact that they can walk into a local branch and speak with someone should a problem arise, but therein also lies the problem with banking as we know it: physical branches. I'm not saying that brick-and-mortar banks are a necessarily a bad thing in themselves, but being tethered to a physical location can be exceedingly annoying.
Did you know it's national "new mobile banking day?" Because I surely didn't. First, Simple brought its online-only banking setup to Android, and now Green Dot has announced its own bank, which was designed from the ground up specifically for smartphones. Intriguing, no?
GoBank is pretty similar to Simple in a few new ways: it's online only, designed for mobile use, and turns the traditional banking system on its head. From there, though, GoBank branches off and does its own thing. For example, you can choose how much your monthly fees are – from nothing at all to $9 a month.