>because competition doesn't really exist. It does exist, just hasn't reached some corners of the world. Neobanks are a great example. I had great experience w

>because competition doesn't really exist. It does exist, just hasn't reached some corners of the world. Neobanks are a great example. I had great experience with TransferWise (renamed recently to Wise). Transfers, checking accounts, wire transfers are several times less expensive than with traditional banks. Works like a charm.