Perkstreet wasn’t a bank. It partnered with online banks and gave users a debit card that provided rewards just as rewarding as those from the best credit card rewards programs, but without the temptation to get into debt. Seems ideal, and also seems too good to be true. It was. Perkstreet executives have explained the problem very bluntly: they’re out of money and can’t pay out everyone’s accrued award balances. [More]
