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And as usual, i presume this is only going to be available in the U.S. Seems great financial products either make their way to the UK very slowly, or dont come
by krmmalik 16y ago
And as usual, i presume this is only going to be available in the U.S.
Seems great financial products either make their way to the UK very slowly, or dont come at all.
Mint still doesnt support UK Banks, so i'm using lovemoney but its reporting is not as good as what Mint has on offer.
BankSimple looks really good, and if it was in the UK, i'd certainly be interested in signing up.
- johnnygood 16y agoBanking is a highly regulated industry and so products usually stop at national borders. Even banks that operate in multiple countries (RBS/Citizens, Santander/Sovereign, HSBC, etc.) basically operate as separate companies in each country. It's expensive and time consuming to comply with so much regulation. If BankSimple does well, I'm sure they'd be happy to expand internationally, but at this point it's questionable whether the public will gravitate to BankSimple. If they tried to launch in multiple countries from day 1, they'd be spreading resources very thin dealing with all the different laws. This way, they can launch, be successful, and expand. In some ways it's like physical businesses. You wouldn't expect a new fast-food chain to launch with 50,000 stores worldwide, would you? Unlike the web which is decently universal, they need to wait a little to catch on and grow.