I don’t think most banks have had such “bank managers” since the 1980’s - they went a long time ago.
As for bank charges etc., the majority of these have been capped, reduced or abolished via the influence of regulators or Courts - not due to the existence of neobanks.
Even no f/x fees predated neobanks with the likes of the Santander Zero Current Account and the Santander Zero Credit Card/Halifax Clarity.
The experience was still garbage, be it having to return a load of paper in the post, or having to go into branch to sign boxes even upto 2 years ago. Yes the CMA9 have moved to a more digital experience, but they’ve been dragged there kicking and screaming.
A lot of them have digitised their banking experience, but not done the hard yards to be Digital, be that because of legacy, stubbornness or market domination.
They had these as far back as ooooh 2004. I remember being summoned to talk about my student account that was overdrawn (again).
So the major things that banking with a FinTech has resolved for me: more transparency.
I’m the type that forgot my PIN and was in an endless frustrating loop of having to re-order PINs that took weeks to arrive. I no longer have this issue as I can find my PIN in app.
I’m the type that loses everything. I would get into another loop where I’d order a replacement card that took a week to come, only for me to find the old one in the interim. Apple Pay and card freezing have fixed that issue.
Trying to work out what was actually in my account was a nightmare. Those mini statements never helped much. Being able to see pending allocations has helped that.
Never having to use god awful online banking, which to this day brings me out in sweats. Having to remember that long random number, and then the second random number just do I can check my account was a nightmare I am pleased to be freed of.
These four things have changed banking for me and made it more accessible. All came from the FinTech space. All have been copied since but I’m sure we probably wouldn’t be where we are without them.
The genuine problem for me, and why I still can’t consider a FinTech account the answer to everything personal finance, is is that I can’t get a pre-approved loan, credit card or Mortgage with a FinTech. They haven’t yet been able to replace the fact that your traditional bank knows you, your income and has range of lending / saving products to suit your needs.
Most banks had abolished the role by then and quite often what they would refer to as a bank manager by then would just be a member of staff.
By 2004, almost all decisions would have been made by computer and not the ‘old fashioned’ bank manager that @anon95680666 describes.
Halifax appear to still require making an appointment in branch to make any changes to a student account, as far as I’m aware. Barclays and RBS also, I believe, require calling in the branch to deal with any student issues, though I don’t believe an appointment is needed.
The places where the Aztecs went to socialise and drink alcohol, or…
I didn’t realise you were so old 
Removing some above posts which seems to have deviated from the OP.
Let’s keep things on track and if there’s a separate topic you feel like you want to discuss absolutely go ahead and open up something new. With this in mind, please let’s keep an overall theme of respecting each other and keeping our Code of Conduct in mind.
Didn’t see that coming 
This PRA potential rule seems really restrictive to me. Is 5 years long enough?
Googling tells me start up take between 3-5. But my gut feeling is banks would take longer. Perhaps I’m wrong on that.
Fully understand that they need to become profitable, but if it is rushed, and done at the expense of their customers, surely all this does is limit the competition to the legacy banks?
I think I agree with you. If a bank has a lot of investor capital and have a lot of money on their books but aren’t making a profit I really don’t take issue with that and don’t feel like the PRA should either.
A new bank may not even want to make a profit first but instead spend huge amounts of money on marketing to make a massive dent in the market.
I don’t understand, but I want to understand. Can you explain that a little more?
It was a response to this comment about Monzo:
I agreed with that comment, and said that Starling was doing well as the bank, and Revolut was doing well as the financial hub, whereas Monzo does well at neither.
I could’ve phrased it with less slang.
Must admit I didn’t get “found” reference.
As a result, it will waive cash withdrawal fees within the UK and EEA and give two free replacement cards per year to those who have a Monzo account and meet at least one of the following criteria (or share a joint account with someone who does)
This isn’t entirely accurate. The two free replacements is just for plus. Everyone else meeting the criteria gets one. Unless I misunderstood the email too.
Edit: ignore me. Re-read the email. Further down in regular font text it says everyone gets two free. Not sure why they made a big song and dance about giving plus member an additional free replacement at the top if it’s not an exclusive thing!
At the top of the email:
From today, you can get one more free replacement Monzo Plus card in the UK per year, which makes two in total.
A bit further down where the changes are explained and the plus element is bolded:
You’ll get two free replacement Monzo Plus cards in the UK per year. We’ll always send you a replacement for free in the UK if your card is stolen, frauded or expires. You’ll also get two free cards for any other reason, and after that you’ll pay a £5 fee. But from 31st October some customers will need to pay £5 for regular Monzo cards in the UK.
And then nearer the bottom:
If you meet these criteria, you’ll get unlimited fee-free cash withdrawals in the UK and EEA, and two free card replacements a year (in the UK).
I wonder if anyone unwittingly signed up to Plus thinking this was a plus only thing? Or was I the only person to come away with the impression that two cards was a plus only thing?
Ahh seen you’ve edited it now.
Card replacement rules are the same whether you have Plus or not 
| If you meet the criteria we outlined above | If you don’t meet the criteria we outlined above | |
|---|---|---|
| Cash withdrawals in the UK and EEA | No fee | No fee up to £250, 3% after that |
| Cash withdrawals outside the EEA |
If you don’t have Monzo Plus No fee up to £200, 3% after that If you do have Monzo Plus No fee up to £400, 3% after that |
If you don’t have Monzo Plus No fee up to £200, 3% after that If you do have Monzo Plus No fee up to £400, 3% after that |
| Card replacements per year, per account | Two free card replacements in the UK, £5 per replacement after that (unless you’re a victim of fraud or theft, or when it expires) | £5 per replacement in the UK (unless you’re a victim of fraud or theft, or when it expires) |
because as a plus customer you dont need to meet qualifying criteria ?
Might explain it. But I felt like I would lose the 2 free replacements if I cancelled based on how I understood the email yesterday.
I hope non-plus member received a different email that makes it clear you don’t need plus for those 2 replacements.
I did … Im not a plus customer but meet some of the other criteria that makes Monzo my main account
Here’s what’s changing:
You’ll keep free cash withdrawals in the UK and European Economic Area (EEA). Other customers will have a fee-free ATM allowance of £250 every 30 days in the UK and EEA, with a 3% fee after. Allowances outside the EEA aren’t changing for anyone, staying at £200 every 30 days, with a 3% fee after.
You’ll be able to get two free replacement Monzo cards in the UK per account per year. We’ll always give you a replacement for free in the UK if your card is stolen, frauded or expires. You’ll also get two free cards for any other reason, and after that you’ll pay a £5 fee. Other customers will always pay £5 in the UK, and won’t get two free ones.
We charge £30 for replacement cards abroad for all customers. This is already part of our terms, but we wanted to call it out again so you’re fully aware. The £30 charge applies in all cases, including fraud or expiry.
Ah, so it’s a bit clearer for those users then! That’s reassuring to see!
At least the two free replacements is not the incentive I thought it was to keep my subscription. Which means I’m now back to being on the edge. Hopefully some news soon for potential new additions to give me that little extra I need to make it worth keeping! 