Unfortunately no matter how many features we add, some people won’t switch because they already have a premium account with another bank that offers them at least one feature they like (such as phone or travel insurance).
You could argue to them at this point that we offer so many features for free that it makes up for that. But, that then requires the person to do a bit of mental gymnastics, because they feel like they are paying for a service that they appreciate. Cognitive dissonance? Perhaps. But in that specific instance, the only way we could get that customer is by offering the same option - let’s say insurance. And we obviously can’t do that for free.