There is finally some competition in banking so some of these are improving.
1. In the UK at least bank accounts are completely free, as long as you don't borrow money (you can use a credit card for free as long as you pay it off every month).
2. Not really in my experience. The worst thing they do is constantly make new types of savings accounts with decent interest rates and then sneakily drop them to 0.1% a couple of years later.
3. Hasn't been an issue for me travelling around Europe and Asia. The new breed of banks don't charge you insane fees either. E.g. check out Transferwise's debit card.
4. How would Libra solve this?
5. It's actually not too bad now - more and more online shops support 2 factor authentication for credit card purchases. Plus because of the fees merchants pay you have pretty good protection against fraud.
> It feels like banks have mostly given up on making their product better.
Disagree. They finally have competition: Monzo, Revolut, Starling Bank, Metro Bank, etc.
1. In the UK at least bank accounts are completely free, as long as you don't borrow money (you can use a credit card for free as long as you pay it off every month).
2. Not really in my experience. The worst thing they do is constantly make new types of savings accounts with decent interest rates and then sneakily drop them to 0.1% a couple of years later.
3. Hasn't been an issue for me travelling around Europe and Asia. The new breed of banks don't charge you insane fees either. E.g. check out Transferwise's debit card.
4. How would Libra solve this?
5. It's actually not too bad now - more and more online shops support 2 factor authentication for credit card purchases. Plus because of the fees merchants pay you have pretty good protection against fraud.
> It feels like banks have mostly given up on making their product better.
Disagree. They finally have competition: Monzo, Revolut, Starling Bank, Metro Bank, etc.