How easy are traditional FIs making it for the participants in the (cliché alert) “gig economy” to meet their financial needs, like, I don’t know… avoiding payday lenders for short-term cash crunches? YC Fellow Clearbanc may be on to something. Via VentureBeat:
To start with, the company is going after Uber drivers with its inaugural product. Using a Visa Debit card, they can deposit their earnings instantly into their account so that they won’t have to wait to spend it on things they need the most. Every Uber driver who signs up with Clearbanc is charged $2 per day that the service deposits funds into their account, after a seven-day free trial period. Drivers are only charged for the days that they work and there’s no contract period.