Root: Programmable bank account for software developers

Victor Pinho

We'll soon hear "I've lost all my money due to a bug in my code" stories

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8yr ago

Louw Hopley

Root

Maker

@vict_r We've built in a sandbox to play around and test with before using your code on real money :) we're also busy working on a system to prevent the user from accidentally transferring money

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8yr ago

Trent Bigelow

@louwhopley let me know when you support US startup customers! Looks very cool.

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8yr ago

scott t

@louwhopley If you've shut it down and moved onto insurance, why not contribute the core to OSS and let the spirit live on?

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3yr ago

Chris Carpentier

Would love to hear some use cases - very interesting!!!

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8yr ago

Kyle Richey

Summit Day Planner

@chris_carpentier +1 A few examples would be amazing. Excited to learn more about this!

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8yr ago

Louw Hopley

Root

Maker

@chris_carpentier Hey, check OfferZen.com's blog, we'll be posting some use cases there as they become available (https://www.offerzen.com/blog/ro...)

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8yr ago

Philip Joubert

Root

Maker

@chris_carpentier It took us a while to wrap our head around what's possible. At the most basic level I've found it super useful to dump all my transactions in a Google Sheet and do analysis on them. A few other use cases: Uber card: Let’s say you give your daughter $100 pocket money each month, but you’re worried she might run out of money and be unable to afford an Uber home. So you write a little code and give her a Root card that a) gives her a limit of $100 per month, and b) lets her take as many Uber rides as she needs (enabling her to spend beyond the $100, but only for Uber) Savings card: You want to visit Thailand, but you’re struggling to save money for the trip. So you write some code that rounds up each card transaction you make to the nearest $5, and adds that to your savings account. At OfferZen (the company that made Root) we use it internally to track our expenses. Transactions made by anyone in the team is categorized in real-time and sent to a spreadsheet. So we can see in real-time who is spending money and what they're spending it on. We're bootstrapped so this is pretty useful to manage our cashflow

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8yr ago

Daniel Foster

Pixsy

@philipjoubert @chris_carpentier This is pretty cool, though if I had a daughter I'd probably have her take the bus. Is it also possible to set up multiple accounts at root? This would be great for automatically setting aside tax payments for freelance income.

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8yr ago

Naomi Assaraf 🔥

MailKing by cloudHQ

@danielfoster437 @philipjoubert @chris_carpentier Building on the "rounding up to the nearest $5 for each transaction" for savings, could I use your API code to automatically save $ from my account, and transfer that into buying bitcoin in *my* wallet?

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8yr ago

Dre Durr💡

I have absolutely no idea what this is suppose to be doing. How can I code in money? This is going to need a detailed explanation. Your web page does not do a good job of explaining Root either.

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8yr ago

Louw Hopley

Root

Maker

@dredurr Hey, Root is a bank account that has full API access, so you can use code to manage your money (send transfers, create new virtual cards, categorize transactions, etc)

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8yr ago

Davis Nunez

@dredurr This is exactly how I felt

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8yr ago

Darryl Wright

@dredurr I think the reason I know what this was intuitively is because I've thought about how it should exist so often. I hope you're going to bring it to Canada.

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8yr ago