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> Especially the ones that implore you to trust them With long established institutions (like banks) you still have lots of competitors to choose from, and leg
by bnastic 6y ago
> Especially the ones that implore you to trust them
With long established institutions (like banks) you still have lots of competitors to choose from, and legal recourse if you are wronged. There is no recourse when PayPals, Amazons and Apples of the world decide to scrub you.
In my case it was Apple refusing to work with a bank because they don't have branches, apparently. It's a well known private bank, with a gazillion businesses banking with them, a subsidiary of a rather large multinational bank. For ten years my company has been paid by, and paid out to, numerous entities in the UK and abroad, with no problems. But now Apple comes around, all arrogant as they are, telling me to switch banks because they have enacted a rule that doesn't exist in any laws, just because they can? I am not willing to go down that route.
- dijit 6y ago> because they have enacted a rule that doesn't exist in any laws, just because they can? Which is the same as my example. Legal recourse for your bank to lock down your account is actually very limited. But I agree that banks are at least more competitive so they're less likely. If there were two banks (a duo culture, like google/apple in phones) then you can be very sure it would be the same.