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> I can choose between one of half a dozen banks This certainly isnt true in the US. There are thousands of banks and thousands more credit unions. The mediu
by ac29 2y ago
> I can choose between one of half a dozen banks
This certainly isnt true in the US. There are thousands of banks and thousands more credit unions.
The medium sized city I live in easily has more than a dozen options, and the county probably has nearly 100 if not more.
- franga2000 2y agoI know this is taboo knowledge on the Internet, but other countries exist too! And on a more serious note, banks have a lot of explicit and implicit lock-in power. Switching is a an annoying process, you might have loans or multi-year deposits with your bank that mean you can't just close your account...