3 ms·
Can anyone explain why they can not get a UK bank license and migrate their customer to the UK bank? I suspect that the main motivation is not Brexit but fierc
by symboltoproc 7y ago
Can anyone explain why they can not get a UK bank license and migrate their customer to the UK bank?
I suspect that the main motivation is not Brexit but fiercer competition in the UK (e.g. Monzo).
- ztratar 7y agoMigrating banks puts your users through a migration themselves (new terms, transfers, new issued cards, etc). It's very difficult. On top of that, their UK business wasn't doing very well. So why double down on a losing bet and go through a ton of pain for it?