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
If you want a more of a personal connection, here’s how to have that.