August 10, 2010
by Joshua Reich

Clarifying Our Invite Process

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Over the past few days I’ve begun receiving emails asking why we are letting some people on before others. We are not currently live, and and that tells me that we haven’t been as clear as possible in explaining our invite process.

In short, we are not currently live. While about 8,000 people have received responses to their invite request, a further 12,000 have not. We have been manually emailing people to explain that their request has been received and that is holding their place in the queue for launch. Our plan at launch is to bring people on in the same order that they requested invites. For example, those who requested invites in February will get on before those who requested them last week.

Tweet about sending out responses to invite requests.

We have been sending out responses manually as that gives us a chance to do a quick bit of research on each person who has requested an invite to get a sense of the type of people who are interested in joining BankSimple. We also personalize these emails in the hope of starting a conversation to learn more about what people are interested in. Unfortunately, this takes time, but we think it is worth it. Also, we haven’t been good at responding to invite requests in the order that they were placed. This means that some people get responses back from us before others.

Looking at what people have been saying on Twitter and elsewhere, it seems that people are excited to hear back from us and others are taking this as an indication that we are letting people onto the platform. We wish we were, but are not. Launching what we are building will take time. While we are committed to a rapid development process, our customers are placing an immense amount of trust in our technology. Neither we, nor our partners, want to violate that trust. We’ll be putting up a blog post soon explaining our planned launch schedule. But for the bulk of those who are currently in the queue, early next year is our best estimate.

I hope this helps clarify the situation.

Disclaimer: Hey! Welcome to our disclaimer. Here’s what you need to know to safely consume this blog post: Any outbound links in this post will take you away from, to external sites in the wilds of the internet; neither Simple or our partner bank, BBVA USA, endorse any linked-to websites; and we didn’t pay/barter with/bribe anyone to appear in this post. And as much as we wish we could control the cost of things, any prices in this article are just estimates. Actual prices are up to retailers, manufacturers, and other people who’ve been granted magical powers over digits and dollar signs.