A lot of the banks mark up their wire transfer fees. We won't. Domestic US transfers with us (ACH) will be free. International transfers (SWIFT) cost us ~$15, and we'll pass that on to our customers with no mark-up.
We're trying to make electronic payments easier than checks with some UI innovations that today's demo didn't fully address. We want people to move money electronically, not with paper checks.
Bill pay in the US is a mess. We're going to try to have a great bill presentment system to help address this.
A lot of the banking world in the US is baffling to us, too. that's why we're doing what we're doing. We won't be able to fix everything overnight, and there's lots that's out of our control at the moment. But over time, we'll chip away at the problems and try to make banking better.