Sorry if Iām mis-reading thisā¦ but isnāt what youāre saying the exact same as what Iām saying? Iāve just stated it at the highest possible level. More money earnt in Net Interest Income will increase their capital, allowing them to lend moreā¦? I dont use hugely technical terminology on here, but I actually work for a Bank
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I donāt understand how the valuation is so low,when they were valued at Ā£3.5 billion over a year ago?
Yes very true,it says will value Monzo at more than Ā£3.5b I reckon nearer Ā£6b
I think if it was going to be a huge increase like that then the article would have said. I think itāll be closer to Ā£4bn but not over. But who knows, pure guesswork.
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Absolute hatchet job. Itās pretty embarrassing to read.
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I think thereās a valid point in there that if other premium bank accounts let you apply for them whatever your age and you just donāt get the travel insurance, then Monzo should allow that too.
The headline is false though and when you get rid of the fake headline thereās nothing newsworthy in this.
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HSBC is constantly offering to upgrade my elderly motherās Advance account to Premier, even though sheās well past the maximum age for the included travel insurance.
The headline is designed to instill fear, uncertainty and doubt (FUD) in the reader on a topic the editor doesnāt like. Itās the same with most newspapers these days, just look at The Sunās daily deluge of articles about electric vehicles
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Yes, HSBC donāt refuse or downgrade customers based on their age.
Of course, they do inform those customers that you wonāt be covered by the free/included travel insurance
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I know.
I know.
Do others that do this still charge the same amount?
According to Shifted N26 got into trouble for mis-selling:
The absence of medical scrutiny means that premium users with certain pre-existing conditions could have bought travel insurance (provided by German insurer Allianz) that they were actually ineligible for. That means, for instance, that if theyād had a health complication on holiday, they would not have been able to claim for the policy theyād paid to cover them.
which is different from a bank having a clear age limit in their policy (other banks also have age limits on their bundled travel insurance)
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I think so, which the person in the article said theyād be happy to pay.
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The bank has a limit because the policy has an age limit? Itās much the same as a pre existing condition?
N26 didnāt tell customers pre-existing conditions werenāt covered nor did it carry out any kind of medical screening.
Hence, their customers thought they were covered by the insurance even when they werenāt.
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I wonder if they were careful about wordingā¦ said he had no intention of āmergingā but nothing about being acquired ā¦?
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