That’s no longer available to new customers. I don’t think its fair to compare.
New customers can’t get a similar packaged account for that low a cost anywhere at the moment.
May be entirely free at the moment. But will likely have to start charging for something at some point.
I was just outlining dynamics in the market, and financial products that you really buy with upgrades.
Buying convenience like integration with spreadsheets or virtual cards as a product is somewhat contradicting with their initial ways of working. All digital banks were/are offering convenience for free, because highstreet banks are so bad at it. And what I don’t like, is making products out of “convenience” instead of making and selling better financial products. Hence was pointing out that other competitors are not monetizing the convenience yet, and still stick to the same model as when they all started, - free better technology, better user experience, better banking.
It sure if this is any better than the previous launch. I can see some features which are good but there are some features which would’ve been good for example instead of offers I’d rather it provided a cash back feature.
Or have that as a base plus account but with additional cost such as £3-5 more per month get cash back feature, mobile insurance, better rates on overdraft, loans and eventually if they do mortgages and ISA fees.
So, some trivia: Nationwide return current account transactions in “reverse” order, so we flip them round before displaying them in the app. (We can’t sort them by time, because the transactions all have the time set to midnight, so that won’t wouldn’t fix the order of transactions on the same date.)
It turns out we applied this “reversing” to credit cards too, by mistake. (Most banks have separate tech stacks for credit cards and current accounts.)
I’ve fixed that now, so if you refresh they should be in the right order