Competitor update

I hope that Monzo will be able to match Triodos at least in some sustainability aspects. Eco-friendly card from recycled plastic anyone?

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Fidor btw is awful, idk if anyone has opened an account here?

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Fidor (D) are good

Fidor (GB) lacks even the most basic banking essentials and is not viable as a primary bank account and I think it is mainly used by people wishing to open a savings bond

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I hope so! See:

Yep, Fidor has been an attractive (ish) savings option during 2016. It’s a shame it’s profile as a rounded bank is so lacklustre.

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NS and I now offering 2.2% fixed rate for 3 years

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NS and You offering :slight_smile:

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no no no no lol National Savings and Investment - phew

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yeah, but the max investment is so low…

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Starling get a few mentions

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Apple Cash

Revolut just redesigned their app -

Video from tweet :clapper:

https://twitter.com/i/videos/tweet/857627255769636864

There’s no real news in this story so I don’t think it needs it’s own topic but here’s an overview of the FinTech scene in 2017 covering Tridos (‘the ethical current account’), Coconut, Atom & Monzo.

With all the news stories we’ve seen recently, it seems like the mainstream press are starting to take the challengers more seriously now :slight_smile:

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Revolut feedback has gone from good to bad to worse to horrendous. I haven’t seen their books but smells like they have welcomed way too many customers on the free forex train and are trying to put out the massive cash bonfire by forcing through monetisation, blocking heavy users and not issuing new accounts without a hefty card fee or premium account. With all the tricks they are playing thousands of users are blowing up their customer support channel and they are ignoring it for days and weeks at a time. Those sort of tactics can work in business until something better comes along. :monzo:

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Revolut has always (in my experience) had poor support. I had to wait a whole day with a locked account because a bug between their app and fraud engines kept getting me to retry a failing transaction until I was effectively banned from the service, support didn’t even look at the message until about lunchtime the next day. Unacceptable for what, at least at the time, was marketed as an international money card. :disappointed:

They’ve tried various things, the bot is just one of the latest but imo, you need to start with a great, around the clock, human-based support team. Then you can start looking at ways to reduce the workload of common queries through the product.

Many of the problems I hear requiring Revolut support could be so easily fixed inside the app too…

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Wow just looked on the feedback part of their forum and there are so many complaints like no customer services and transfers not arriving which seems to be a big thing.

Wonder how long it’ll be before people jump ship…

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Seems a bit of a stretch to call this a challenger bank (they’re planning to buy a small bank & create a branch network :see_no_evil:) but for the record, Iam Bank are planning to launch in the UK -

http://www.bankingtech.com/818052/challenger-iam-bank-to-launch-in-uk/

Here’s the FT Adviser article, mentioned in the above story -

https://www.ftadviser.com/investments/2017/04/28/new-challenger-bank-will-target-millennials/

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Wow that sounds like a real pie in the sky steaming pile of an idea made from the comfort of being nowhere near operational- like 10k extra police officers for £300k a year :stuck_out_tongue:

It might have been a decent ‘faster horse’ concept 9 years ago, but there’s no way that is going to reach market in this age!

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i agree with yout comment. I cant see it lasting.

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And another one, coming thick and fast!

https://www.blossomapp.co.uk/