Comments by Member 13508907 (Top 1 by date)

It may piss off banks Dave, but it definitely won't piss off customers. Let me explain the design better:

I designed a process that will save customers in Latin America the high fees for interbank transfers. The way that I devised such lower cost was acting as intermediary between users. As transfers within a same bank are virtually "free", opening up accounts in every bank that will be accepted in the app and having enough funds in each of these banks to move money would allow me to reduce the interbank costs greatly and still make a profit.

Say User A (who has Bank X) wants to transfer $100,000 pesos to User B (who has Bank Y) through my app. The user transfers $102,000 pesos (after the 2% commission that I plan to charge) to our company's account in Bank X and we provide the service of transferring those $100,000 pesos from our company's account in Bank Y to User B. Hope this explains the idea better.

That said, what would you recommend to get the banks on board with this app.