Reply To: RevPoints from Revolut

[JDB]

@BBetter – the trouble is that the regulators can’t really create competition and they are also responsible for stability. . Sainsbury’s is just acknowledging the failure of its banking project as Tesco did a while ago. M&S Bank is a little different. Virgin Money agreed to be taken over for half book value when its attempt to be a challenger bank failed badly. Metro Bank has been a fiasco and even Starling, considered a good quality bank has issues.

While we continue to enjoy free banking, it’s really tough to compete with the mainstream banks.