Opening a checking account shouldn’t be aggravating. In essence it’s the completion of some varieties, some proof of tackle, and identification. It shouldn’t require your bodily presence inside a department.
And but, a lot to my dismay as I discovered over the previous couple of weeks, such practices are nonetheless carried out by the banking trade’s largest gamers. Having moved from Eire and coping with a barrage of varieties and paperwork, my endurance had worn skinny.
I discovered the entire technique of rummaging round for a brand new checking account so irritating that I made a decision to open my new account with challenger financial institution Monzo.
The choice was not based mostly on a greater degree of service supplied by Monzo, or an rate of interest on financial savings, and even on the safety of my funds. It was completely based mostly on private comfort.
My expertise, with the outdated machine that’s conventional banking, opened my eyes to simply how necessary a seamless consumer expertise is. It additionally made me realise the extent to which conventional banking could also be in bother.
This take could appear to stink of laziness on my half – and it does – nevertheless it’s mainstream laziness.
A lazy new world
We stay in a world the place meals arrives at your door with a number of faucets. The place Jeff Bezos’ military of drivers can ship you a product on the identical day you bought it.