Startups are cool and disruptive. Youngsters flock to products like Revolut, Monzo etc. and say “finally, someone understands me!”

Then they might say

Wow, look at all these perks that I get because of sticking with them! Discounts here and there, 24/7 support, maybe even cashback! Savings account, wow!

Little do some of them know that these are, in fact, available at “big corporation banks” like HSBC, Barclays etc. — simply not to them.

Or if they are, they haven’t been made clear, since the wide audience that HSBC caters to can’t allow for very precise communication — a luxury Monzo or Revolut can afford.

However, if you have £30m in cash, you probably won’t hold your money with Revolut. Indeed, maybe not with HSBC either, you might choose a private bank.

But the point is the same — you surely want that “ancient” company dealing with your big amounts. Can’t risk it with a startup that’s younger than you.

Disruption is cool. But, by definition, not stable.

About Ch Daniel

I’ve updated this signature in July 2020, so older mentions of the signature might not make sense.

I currently don’t write on this blog anymore. I wrote daily for 9 months on this very blog, but now I’m focused on building the CH Group.

If you want to follow my newer articles, check out the CH Group’s blog.

See everything I do here: Chdaniel.com