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Notes on money, ledgers and building carefully
How we think about the parts of banking that never make it into a marketing page.
Why we do not store balances
A stored balance is a cache of history, and caches drift. Here is what we do instead, and the one query that…
Read the noteShow the fee before the commitment
Most transfer screens ask for an amount, then reveal the cost afterwards. We think that order is backwards, and it is a…
Read the noteWhy we show the fee before you confirm
A fee that appears only on the confirmation screen is a fee you did not agree to. Here is the rule we…
Read the noteReconciliation in practice
The zero-sum invariant is easy to state and surprisingly useful to check on demand. Here is what the report actually runs.
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