Every. - Product Stars
Best products of May 2018

Every.

A bank account for your online business.

Upvotes 671 PH Page >
Kim Doyal
There's an error trying to sign up for the priority list. thx
Jeremy Black
Maker
@kimdoyal Hey Kim. On the website? can you shoot me a screen shot jeremy@everyfinancial.com Super excited that you're interested in the product! Also... we had a bit of a false start here with PH ;)
Julian Miller
@kimdoyal I'm having the same issue
Dashell Laryea
Ditto: @everyfinancial @jeremywblack
Jeremy Black
Maker
@kimdoyal @julianmiller Thanks Julian! Got your email. Digging into it now. We had a bit of a scheduling error on PH this morning and the PH folks have helped us course correct. Replying to your email now.
Jeremy Black
Maker
@everyfinancial @dashlaryea Thanks Dashell! Will be in touch momentarily.
Kim Doyal
@everyfinancial @jeremywblack You bet Jeremy! Sending it now (tried Chrome & FF).
Jeremy Black
Maker
@kimdoyal @julianmiller @dashlaryea Would you believe me if I told you we used the exact same referral link structure as product hunt and that was assuming you came to the site from a "friend referral" that didn't exist. Of all the random things.... You can go ahead and sign up now. Thanks for your help / patience ๐Ÿ™Œ
Nic Perry
Just trying to get a handle on fees and usability... Definitely love the idea of an easier online business account. Are ACH payments an option and do they have any fees? There was also reference to you sending checks for us if a check is needed, obviously that will have a fee, but I didn't see what the fee would be.
Jeremy Black
Maker
@nperry302 Hey Nic. Thanks for the note. ACH is there and it's free. ACH payments are unlimited, however, we do need to monitor how people are using the API (no one is just yet) in case there is a use case we didn't intend to support. As for checks, we are going to do this for free to start. If it gets abused maybe we'll need to add a small fee to cover postage and handling ($1 for example). We've managed to negotiate with our bank partner, and other required third parties, such that the only fees are when you use an out of network ATM (assessed by the ATM company not us), send a domestic wire ($25), or an electronic payment internationally ($0.50 - $4 depending on the receivers country). Hope that helps!
Nic Perry
@jeremywblack Sounds great! Just wish it was ready a couple months ago before I dealt with the headache of a traditional bank! I'll definitely upvote again when you launch again, great work!!
Jeremy Black
Maker
@nperry302 Thanks Nic! We got a little trial run on PH today. Can't wait until the real thing! In the meantime, folks can sign up on our Product Hunt Upcoming page: https://www.producthunt.com/upcoming/every
Jeremy Black
Maker
๐Ÿ‘‹ I'm Jeremy, an online entrepreneur and reformed tech exec. I started my first eCommerce business in University over 10 years ago. It's amazing to see how the community of makers, sellers, and freelancers has grown in the decade since; especially the last few years. If you run an online store, build indie software, own a digital agency, or run any other type of online business we want to hear from you! Traditional banks make things complicated. If you run an online business your bank account should be as easy to use as Shopify or Stripe. So we took a bank account, stripped out all of the extra fluff, and connected it to other services to make it smarter. It's fast, smart, and has no monthly fees (seriously). ๐ŸŽ‰
Tudor Baidoc
Looks promising. I'm in!
Jeremy Black
Maker
@baidoct You're making me ๐Ÿ˜ณ. Welcome ๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰
MaheShrestha
This product was hunted four months ago and now, gets featured. More surprisingly becomes #2 product of the day. DAMN!
Jeremy Black
Maker
@traveler ๐Ÿ˜€
Thiago de Carvalho
Basic question: I have a Transferwise account, a Monzo account, a Revolut account, why do I need another bank account? How do you compare and why are you different?
Cellus Christie
@thiagoafram interested in this as well
Jeremy Black
Maker
@thiagoafram Every is built for business owners. Transferwise, Revolut, etc. are fantastic products, but as a business owner you would still need a bank account when using one of these products. For example, you can't settle your Stripe transactions to a Revolut account because it is considered a "virtual account". A business can use Every without the need for any traditional bank account. We are also building a bunch of ways to connect Every to other apps an entrepreneur uses. For example, when you connect Every to your Stripe account, we can view "settlements" as they are approved by Stripe, and make the balances available in your Every account the same day, instead of you having to wait for funds to clear through the banking system first. Hope that helps!
Jeremy Black
Maker
@thiagoafram @cellus_christie Hey Hey! Have a look at the reply below and let me know what other questions you might have!
Thiago de Carvalho
@cellus_christie @jeremywblack Tried to signup but didn't get the confirmation email?
Jeremy Black
Maker
@thiagoafram just sent you an email to help get it sorted
Mike
@thiagoafram @jeremywblack Do you charge interest to make the balance available?
Jp Valery
@jeremywblack congrats on launching! I see that youโ€™re having an address listed in Canada - does that mean that Canadians are eligible to use every?
Jeremy Black
Maker
@jpvalery Every is available for US businesses (must also be a US citizen) for now. We're hoping to launch other markets once we've got the US figured out. Most of our team is based in Toronto so Canada is a natural next step ;)
Derek Shanahan
I use Seed.co and they've been fantastic. Their support is literally lightening speed, which has been the biggest game changer vs traditional bank. What are your main differences to them? To me the settlement piece is interesting, but the real pain points are expense categorization, direct sync with the finance tracking/planning ecosystem (plaid, accounting/bookkeeping software, banking APIs), and transaction limits. I notice some copy on the syncing in particular - how's that set up currently?
Andy Parkhills
@dshan @jeremywblack I guess one of the differences is that Seed doesn't support paper checks if it really matters.
Jeremy Black
Maker
@dshan Hey Derek. Thanks for the question. We certainly have a lot of spiritual alignment with Seed! Super fast, super personal support is the game changer for all of us competing with the traditional banks so yes, it's definitely a focus. Today most of our customers (we've just started to onboard non-friends and family) are using the in app chat to get support. We staff the phones 9-8 eastern time and give customers the ability to have us call them instead of the other way around. As far as differences, I sort of think of it as open vs. closed ecosystems. Seed has integrated some accounting functionality into their app, whereas we are partnering with accounting software providers to bring the bank account into those experiences. If you never came to Every, and simply used our product inside other products we would be happy. Today, we have a direct feed integration with Plaid, which helps to power real-time data exchange across most apps an entrepreneur would want to connect with their bank account. We have some announcements coming in the summer around deeper partnerships with specific platforms ;)
Jeremy Black
Maker
@dshan @aparkhills So far our customers aren't really using the remote deposit capture or paper check send functions. Our customers are mostly online businesses so it's not that surprising. I'd love to get rid of these features altogether.
Andy Parkhills
@jeremywblack It looks like the focus on your website is with the iPhone app. Will you guys be launching an Android app as well?
Jeremy Black
Maker
@aparkhills Andy Andy Andy.... you're opening up old wounds over here at Every HQ. Here's the thing... I've been on Android since I can remember. Same goes for our head of UX. But right now our customer list is 75% iPhone users! I was surprised that it's this high. Our beta users are testing with a lightning fast web app right now and we're rolling out iOS next. Android will follow later in the summer. I find myself using web apps a lot more on my phone lately so interested to see how far that takes us in advance of launching a proper Android app. Thanks for the question!
Andy Parkhills
@jeremywblack Thanks for the update, Jeremy! Will be looking forward to it.
joshua bradley
@aparkhills @jeremywblack is it possible that only having iPhone app is drawing iPhone users? Can't have more Android users if you are optimized for iOS in search and discovery
Jeremy Black
Maker
@aparkhills @airjoshb #truth
David A. Lindahl
@aparkhills @airjoshb @jeremywblack I'm one of those android users who hasn't signed up yet because you don't have an android app. I feel like it might be one of those chicken vs egg things.
Jeremy Black
Maker
@aparkhills @airjoshb @austriker27 If our head of product design sees this I'll never hear the end of it! I agree with you. Glad you added your voice to the chorus.
David A. Lindahl
@aparkhills @airjoshb @jeremywblack Whats his or her name? I'll ping them ๐Ÿ˜‰
David A. Lindahl
@aparkhills @airjoshb @jeremywblack Also Ive got at least 2 businesses that might benefit from this type of account (was looking into capital one spark before now) so I just signed up. Hope to see access (and an android beta) soon!
chris ye
Congrats Jeremy and the entire team! Excited for you guys to modernize banking.
Jeremy Black
Maker
@cye Thanks! We're excited too. The entrepreneurs we are meeting already are amazing. Everyone from a travelling mechanic that works on super cars at race tracks, to the world's premium supplier of Quidditch equipment!
Jamie Ross
I hope this supports other currencys
Jeremy Black
Maker
@jamie_ross At some point yes, but not initially. For the most part our customers have been asking us to prioritize integrations with other apps over multi-currency support. Is there a specific reason your business might need multi-currency support? Would love to understand why it's important and make sure we're tracking the suggestion. Feel free to ping us on the chat on our website if it's easier.
Jamie Ross
@jeremywblack there are companies like this in the UK however they don't have same day deposits as stripe etc and already rely on a existing big bank.
Krishna De
Wondering how we can get on a wait list for when you launch outside of the US @jeremywblack?
Jeremy Black
Maker
@krishnade We automagically do this when you join the early access list on our site! Meaning, we collect details like country in a followup email and use that to keep everyone informed of the right developments for their market.
Krishna De
@jeremywblack Thanks for confirming
Max
Looking really good. I have a question though. Is it gonna be one of those "Sorry, we don't provide services outside of UK/US/USomething", or will it be worldwide?
Jeremy Black
Maker
@rdev Sorry I missed this! Unfortunately it is "one of those" for the time being. Every is a real bank account (ie. not a virtual account) so it requires working with local bank partners and regulators to launch in each market. We are starting with the US and will launch in at least one additional market in 2019. Online entrepreneurs typically see revenue from many markets and the ability to bank in each is something we'd like to solve for in the future. Hope that helps!
Max
@jeremywblack That sounds great! My issue with these types of projects is usually "US doesn't really need another one but X-Country does". It's good to hear you have plans for further expansion ๐Ÿ‘๐Ÿป
Arun Gopalaswami
@jeremeywblack congrats on your launch. Have been waiting for a product like this to ditch SVB which comes bundled as part of the the Stripe Atlas Program. Would like to get an early access, have shared my email.
Jeremy Black
Maker
@arunone Glad to hear you're as excited as we are! I'll pop into your profile and bump you up the waitlist :)
J. Christian Bernabe
This is exciting. I've been searching for something like this for my new e-commerce site. Great timing! Was wondering whether lending solutions would be in store for Every in the future? Would love to give Every a go. Bravo!
Jeremy Black
Maker
@spramp Thanks for the feedback and support! Lending is definitely in our future, but we don't want to just do the same old thing. It will take us some time to iron out the details but suffice it to say we're creating a "lending" product that is completely unique. It's not just an evolution of the same old line of credit or term loan. Wish I could say more but first thing is first... we need to perfect the checking account experience for businesses!
Jeremy Black
Maker
Shout out to everyone who upvoted and commented over the last few days. The PH community has been ๐Ÿ’ฏ๐Ÿ’ฏ๐Ÿ’ฏ as per usual.
Jeremy Black
Maker
Oh, and keep 'em coming. This PH tab in Chrome will never close!
Emmanuel B. Lepage
Super cool, but how do you do money? And how will you keep my money safe?
Jeremy Black
Maker
@emmanuel_b_lepage Hey! We are partnered with Community Federal Savings Bank (CFSB.com) in New York. Funds are held by CFSB in FDIC-insured accounts. Outside of the custody of funds, we of course encrypt data in flight/at rest, store only what we absolutely need to, and force secure passwords / leverage 2FA. We also use advanced fraud detection techniques that are supported by a set of rules that are updated in real time by machines (I guess I could have said machine learning?) and humans. Great question Emmanuel!
aggieben
Iโ€™m just starting a business and this seems like a perfect fit for me. How long should I expect to wait on the early access list?
Jeremy Black
Maker
@aggieben If you signed up in May you will get an invite in September. If you refer someone you both get access in July!
Peter Aceto
Can Canadians companies use it?
Jeremy Black
Maker
@peter_aceto I would love that :) There is some irony that we need to have a traditional bank account to manage our operations in Canada (most of our team is here). But in the US we're all Every. We are looking to expand beyond the US in 2019 and Canada is high up on our list :)
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