My AC have for some time used "no branch" banks, like Revolut or Monzo, especially useful when travelling abroad, because there are no charges when paying on the cards and they find it great for e.g. money transfers when holidaying with friends and a 'kitty' is needed.
I read about one of these new banks over the weekend, I couldn't help but be impressed by Anne Boden the CEO of Starling Bank, who started it at 60. (Perhaps GN could get her on here for a Q&A.)
Fed up with modern finance and Britain’s broken banking system, Anne Boden decided there was only one thing to do: set up a bank that ran in the way she wanted it to.
www.theguardian.com/business/2020/nov/08/its-crazy-but-i-set-up-my-own-bank-the-story-behind-starling-anne-boden-ceo-interview
Do any Gransnetters use these new banks? I'm thinking of opening a Starling account, I'm tired of banking in the old-fashioned way with my high street bank, when you can never contact a living person on the phone anyway! I held on for 45 minutes last week and then the person I spoke to couldn't help me after all that, directed me to their website. Gr. I think the new banks are app based only.
Our Welfare State. Is it broken?