Patrick McKenzie+ Your Authors @patio11 I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own. Sep. 02, 2020 1 min read + Your Authors

Interesting new Wealthfront feature, which I’ve heard personal finance geeks pine for for 20 years:

It uses something like Plaid under the hood to grab your (non-Wealthfront) checking account balance daily and then ACH debit your sweep to a Wealthfront account.

I expect all the consumer-legible fintech which care about AUM will rush to copy this.

“Is this a good idea?”

On the one hand I generally think most people should set-and-forget more of their finances but monthly recurring transactions are good enough for this.

OTOH I probably spent 1,000 hours over the years making sure I didn’t have $50 too much in checking.


You can follow @patio11.



Bookmark

____
Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.

Enjoy Threader? Sign up.

Since you’re here...

... we’re asking visitors like you to make a contribution to support this independent project. In these uncertain times, access to information is vital. Threader gets 1,000,000+ visits a month and our iOS Twitter client was featured as an App of the Day by Apple. Your financial support will help two developers to keep working on this app. Everyone’s contribution, big or small, is so valuable. Support Threader by becoming premium or by donating on PayPal. Thank you.


Follow Threader