The Bankwatch

Tracking the evolution of financial institutions

Wesabe introduce labs and cutback tools

Wesabe just keep the good stuff coming – ok I admit I am a fan but they are worth it.  in addition to the recent labs the latest is a tool to evaluate your monthly recurring expenses, and decide which you really require to maintain.  Its hard to imagine anyone would not benefit by locating at least one thing that is not offerring value yet they are paying it monthly.

Cutback Tool |Wesabe blog

several beta testers reported charges of $14.95 for freecreditreport.com, a credit monitoring service they understandably thought was actually free (let’s see…wouldn’t $15amonthcreditreport.com be a more honest name?).

&

Sure enough, WaMu has been dinging my savings account for the last six months. I had transferred money out of the account during the summer and haven’t touched the account since, so I wasn’t checking my statement. Ends up my account balance of $295 was below the “account minimum” of $300 (which I didn’t know about), so every month, I’ve been paying a fee. I know I should be more of a fine-print reader, but since I’m not, I’m sure glad the Cutback Tool caught this for me.

cutback

PS … every bank ought out to have a bank/labs feature – what possible harm and imagine the potential?

Written by Colin Henderson

January 14, 2009 at 18:25

Posted in Uncategorized

2 Responses

Subscribe to comments with RSS.

  1. Thanks, Colin. The response to this has been huge, more than we expected even. I’m really glad you like the feature, too.

    Marc Hedlund

    January 14, 2009 at 22:08

  2. @Marc … I like your approach at Wesabe of continual iterative quality improvements. Thanks for stopping by.

    Colin

    Colin

    January 14, 2009 at 23:56


Comments are closed.

Follow

Get every new post delivered to your Inbox.

Join 172 other followers