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> and a bad decade for public faith in banks might mean people will likely stick with names they know Or, equally, make them switch to names they don't know an
by shawabawa3 11y ago
> and a bad decade for public faith in banks might mean people will likely stick with names they know
Or, equally, make them switch to names they don't know and therefore don't distrust
> People are notoriously relunctant to switch current (checking) accounts
A big part of their pitch is being able to open an account on your phone in 30 seconds. We'll see if they're actually able to successfully market that though
- nly 11y agoWell, I guess we'll see. Many UK banks currently promise a 7 day current account switching guarantee. Despite this, after 5 full working days, I'm still waiting for a sodding e-mail from one bank that will allow me to start the process. I have no reason to believe Mondo will be able to maintain an "open your account in minutes" promise, even if they start business that way.
- hawaiikaos 11y agoWhen I first immigrated to the UK it took me more than 6 months to establish a bank account because I was stuck in a catch-22 lack of local identification (which is all BS as the identity requirements are up to the bank). Mondo's approach is a lot saner, and there's a lot of segments of society that are otherwise underserved that they can capitalise on.