I found this thread and to be honest the costs in the USA shocked me; it's only ~14x cheaper than a full banking license abroad. But it's great to see them clearly listed.
Before I read this I started thinking, 'What is the shortest path to achieve a Bitcoin to cash card?' Sure there are cards like AxrumExchange[sp?] that provide this. That's great
but there are fees all round, especially the ~$3 charge to withdraw, which personally puts me off enough to instead use a normal debit card, thus losing some of Bitcoins advantage.
So, what if there was a credit union that automatically converted Bitcoins(or gold?) to a cache of fiat that can be withdrawn, if the currency collapses you only lose the fiat cache. This credit union could be a cooperative and a credit union could do a lot
to handle the current banking system.
So then I thought, what are the minimum
overheads for a 'bank' or credit union. Let's start with a Bitcoin only 'Bank'. We have examples of this, like Flexcoin, they'll be able to tell us more about costs but generally it should be very low cost. So practically no cost there thanks to Bitcoin.
Business banking. There's going to be costs here, but I can't see much detail here on that. I'd like to know more.
Company(?) accounts, registration fees etc, but again, these shouldn't be massive.
Looking at the costs clearly it's all very realistic and that's good to see. But I wonder, what about a barebones alternative at first and then building things up from there? Could there be an alternative way of approaching the idea? Perhaps something fully international (to mesh with bitcoin) for example, (incorporated) in Panama with bank services elsewhere, run as a cooperative (does that fit with incorporation?) and supplying cash cards with anonyminity.
Also, could, indeed should, Bitcoin be used to mesh all the existing credit unions across the world together too?
The read mentioned earlierhttp://thatcreditunionblog.wordpress.com/2007/04/09/starting-a-credit-union-from-scratch-what-would-it-look-like/
Also, I'd like to see a credit union that does not deal in debt and backs all assets as hardly as possible. There is no bank that doesn't hold your money fully so there's a gap in the market for this.