Fintech companies market their products specifically towards people who see themselves as "rugged individualists" who don't need the nanny state to look after them, or millennials who are untrusting of big banks after 2008.
I fall into the second category, but I'm also aware that what little I have in $bigBankCo is covered under depositor's insurance, and I'm good as long as I don't sign up for their usurious lines of credit or things like that.
And I've seen way too many smarmy startup dudes promising customers the earth, moon and the stars if they join their revolutionary "non-bank". No thanks.
I fall into the second category, but I'm also aware that what little I have in $bigBankCo is covered under depositor's insurance, and I'm good as long as I don't sign up for their usurious lines of credit or things like that.
And I've seen way too many smarmy startup dudes promising customers the earth, moon and the stars if they join their revolutionary "non-bank". No thanks.