Bó (Natwest/RBS challenger brand) chat

What’s the day to day impact of this? Do you guys sign up for credit products every day so having a “prefect” report on all the CRAs is important?

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I don’t but it is an issue for all sorts of things.

These days, KYC rules apply to more than just banking and finance, it’s also other services like utilities and insurance, even auctioneers.

Often, these services have the well-understood need to check identity and address, which can often be done automatically via CRAs.

If you aren’t on even one of the main three, then they fallback to manual verification or even can’t verify your bank details at all. This can, and does, cause problems for people. I think it should be a priority to report to all three.

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I think the coronavirus is just a convenient excuse here to scrap a doomed project without admitting fault. The real problem is that they were late to the game and (to my knowledge) didn’t have anything outstanding to offer that the other big players (Monzo, Starling, Revolut) didn’t offer already.

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Plus a truly awful name.

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But at least there’s no flipping chicken. :joy:

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Had completely forgotten about that. It’s a shame they haven’t made the Virgin accounts into a modern banking experience seemingly at all.

No that they’re closing Bo - I’ve had 4 App updates in the last month lol! If they’d had this level of development before now then they might have had some interesting/unique features introduced and saved the bank…

The latest one actually would be generally pretty useful for any account - the ability to download all your statements at once.

I would’ve also thought though a simple ‘I’m ready to close my account’ now with a checklist would be useful - at the mo you need to talk to their support team still to close.

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Incidentally, the big closedown day for Bo is the 20th July.

And…

Today should’ve been the day.

Although I’ve just logged into my account and it seems to be working. I assume it’ll close overnight.

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About the right time to pay homage all those numpties on Instagram who desperately did this:

Wow. You bought a coffee and bragged about it on social media. That’s original.

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It’s the ones who have clearly just made soup at home or arranged their coffee stuff at home that crack me up. :sweat_smile:

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I’m gutted that I can’t get a Bo card, so I could be like them /s

I thought these people were influencers? Just goes to show the limitations of social media.

(had to laugh at that last one, even I can wave a card in front of a costa coffee-n-muffin combo and take a picture! I should start a new life as social media guru)

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I love the guy who’s so deep in thought drawing a tiny grid for his bills :joy:

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Alas I’m sure they were paid handsomely.

Probably given a Bo account too, so swings and roundabouts!

Perhaps they’d be able to budget better if they didn’t spend all their money on coffee, Moleskines and Apple laptops?

Just a thought, Millennials.

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I can’t imagine the pay for these being that high; it’s not like it requires any particular skill so I would expect the mechanics of supply & demand to cap the fee to something reasonable.

If somebody wants to me pay to take a picture next to a card, please get in touch.

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What’s the fee?

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