Cheese Bank?

Marchitiello

Daliah said:

Deleted_User said:

[Deleted User] said:

Chris_English said:

[Deleted User] said:

To be frank, I am just a customer who wants DD. I don't care about how the bank wants to set up etc. If you don't offer what I want, I won't be using your services. I thought an American bank would understand that above all.

They do, they are one of the biggest banks in the world.

Why do you think that they don’t understand it very well?

Because they launched an account in the UK without DD. It is like opening a hotel without a check in desk.

Just like Monzo and Revolut? If you aren't happy, don't use them - simple. 

I got an email confirming that Direct Debits will be available from next month (March) 

It's really funny the bank which has existed for centuries and has got all the financial prowess in the world is now getting compared with Fintechs, one of which isn't even a bank in the UK.

I have never said that I am not happy with Chase. I am just getting bored with getting reminded over and over again that the company has existed for a long time. As if that mattered to a retail bank customer when the UK licence conditions for a bank include FSCS protection. Having been in business for a very long time, and having stacks of cash, is zero guarantee that you have great customer service, or the best offers for consumers. 

But that is what they are entering the market for, competing with the fintechs (they are not opening branches like their mother company and if the latest survey is a sign, they want to minimise development to app only use) , and because of the resources behind it, they were able to launch with a customer service level and promotional offers that can only be dreamt by the newer player (plus the ability to exploit their USA network for fee free ATM withdrawal, almost impossible in USA for UK cards). That is the difference between a 1.1 billion theoretical capitalisation and a 450 billion plus real capitalisation. 

Daliah

The bottom line for me, and I am sure many others, remains that I look for features that benefit me. I couldn't care less whether the benefits are provided by a company who has been in business for yonks, or one that has just entered the market.

Just like any self-respecting company would pursue markets that are most profitable for them, I pursue companies that are most profitable/least costly for me. The concept of "my bank" went out of the window for me 3 or 4 decades ago, when serious competition between banks started to emerge. 

We are here on the MoneySavingExpert site, not on a bank appreciation site.

Chris_English

Daliah said:

Deleted_User said:

[Deleted User] said:

Chris_English said:

[Deleted User] said:

To be frank, I am just a customer who wants DD. I don't care about how the bank wants to set up etc. If you don't offer what I want, I won't be using your services. I thought an American bank would understand that above all.

They do, they are one of the biggest banks in the world.

Why do you think that they don’t understand it very well?

Because they launched an account in the UK without DD. It is like opening a hotel without a check in desk.

Just like Monzo and Revolut? If you aren't happy, don't use them - simple. 

I got an email confirming that Direct Debits will be available from next month (March) 

It's really funny the bank which has existed for centuries and has got all the financial prowess in the world is now getting compared with Fintechs, one of which isn't even a bank in the UK.

I have never said that I am not happy with Chase. I am just getting bored with getting reminded over and over again that the company has existed for a long time. As if that mattered to a retail bank customer when the UK licence conditions for a bank include FSCS protection. Having been in business for a very long time, and having stacks of cash, is zero guarantee that you have great customer service, or the best offers for consumers. 

And upsetting a few strange types on the internet is zero evidence that they are doing something wrong.

There's a little too much solipsism being employed here I think.

Chris_English

RG2015 said:

Deleted_User said:

[Deleted User] said:

Chris_English said:

[Deleted User] said:

To be frank, I am just a customer who wants DD. I don't care about how the bank wants to set up etc. If you don't offer what I want, I won't be using your services. I thought an American bank would understand that above all.

They do, they are one of the biggest banks in the world.

Why do you think that they don’t understand it very well?

Because they launched an account in the UK without DD. It is like opening a hotel without a check in desk.

Just like Monzo and Revolut? If you aren't happy, don't use them - simple. 

I got an email confirming that Direct Debits will be available from next month (March) 

Hallelujah! Roll on March.

Like revenge, Cheese is a dish best served cold.

I could not disagree more!

At this time of year it's best served in a fondue, preferably up a cold mountain.

Zanderman

Chris_English said:

RG2015 said:

Deleted_User said:

[Deleted User] said:

Chris_English said:

[Deleted User] said:

To be frank, I am just a customer who wants DD. I don't care about how the bank wants to set up etc. If you don't offer what I want, I won't be using your services. I thought an American bank would understand that above all.

They do, they are one of the biggest banks in the world.

Why do you think that they don’t understand it very well?

Because they launched an account in the UK without DD. It is like opening a hotel without a check in desk.

Just like Monzo and Revolut? If you aren't happy, don't use them - simple. 

I got an email confirming that Direct Debits will be available from next month (March) 

Hallelujah! Roll on March.

Like revenge, Cheese is a dish best served cold.

I could not disagree more!

At this time of year it's best served in a fondue, preferably up a cold mountain.

I prefer raclette to fondue myself.

RG2015

Here are a few big cheeses at JP Morgan Chase.

Daliah

Chris_English said:

Daliah said:

Deleted_User said:

Deleted_User said:

Chris_English said:

Deleted_User said:

To be frank, I am just a customer who wants DD. I don't care about how the bank wants to set up etc. If you don't offer what I want, I won't be using your services. I thought an American bank would understand that above all.

They do, they are one of the biggest banks in the world.

Why do you think that they don’t understand it very well?

Because they launched an account in the UK without DD. It is like opening a hotel without a check in desk.

Just like Monzo and Revolut? If you aren't happy, don't use them - simple. 

I got an email confirming that Direct Debits will be available from next month (March) 

It's really funny the bank which has existed for centuries and has got all the financial prowess in the world is now getting compared with Fintechs, one of which isn't even a bank in the UK.

I have never said that I am not happy with Chase. I am just getting bored with getting reminded over and over again that the company has existed for a long time. As if that mattered to a retail bank customer when the UK licence conditions for a bank include FSCS protection. Having been in business for a very long time, and having stacks of cash, is zero guarantee that you have great customer service, or the best offers for consumers. 

And upsetting a few strange types on the internet is zero evidence that they are doing something wrong.

There's a little too much solipsism being employed here I think.

I don't need to resort to ad hominems when it comes to assess the services provided by a bank. They either do provide them or they don't.

I also don't have to resort to ad hominems when assessing the quality of the services they do provide. I simply assess them by the value they provide to me. After all, a retail bank (like other consumer businesses) lives or dies by what their customers think of them. Very few businesses survive, long term, on the strength of their age or their financial prowess. Businesses thrive on providing products and services customers want to buy. Simples. "Big is beautiful" might still work for some, but mainly went out of fashion in the late 1980s.

RG2015

And all this because someone said it's a new bank and someone else said it's actually an old bank.

It's a good job that this thread was only ever intended as a joke.

Definitely too much solipsism in the kingdom of the ad hominems.

Daliah

So true. The posting history is witness to the solipsism.

RG2015

Daliah said:

So true. The posting history is witness to the solipsism.

As is the history of the universe as witnessed by the selfish gene.