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One-man companies with no bank accounts, leases, phone bills, water bills, and are probably not very lucrative customers, or the target market for this business
by tacostakohashi 11mo ago
One-man companies with no bank accounts, leases, phone bills, water bills, and are probably not very lucrative customers, or the target market for this business, especially when they consume the time of multiple customer support people.
- brudgers 11mo agothey consume the time of multiple customer support people Indeed for obvious business reasons, there are databases based on the benefits of identifying individuals who habitually engage with customer service services in ways that do so. The days when raising hell was a way of winning with customer support are long gone.
- casenmgreen 11mo agoWell, I mean, on a contract I might make 60k GBP gross over six months, and it just sits in the account. The bank seems to get a fair bit of money in its accounts, for it.
- kasey_junk 11mo agoThat’s about 240 GBP at the current spread between what wise is offering and the interbank rate (which is higher than wise is getting on their uk safeguarded accounts). So you probably blew through that the minute your account triggered elevated kyc.
- tacostakohashi 11mo agoMaybe it's simplistic, but I imagine their business model revolves making money from transfers, and they're probably don't value having money sit in accounts as much as, say, a bank that's in the money-lending business.