Re:The Profitability Challenge for Challenger Banks
by BubRoss on Saturday October 12, 2019 @08:18PM
(#21237311)
Why? It seems almost impossible to take people's money, charge them fees for it, then loan it out again for interest and still lose money.
[ Parent
| on HN ]
Re:The Profitability Challenge for Challenger Banks
by 55555 on Saturday October 12, 2019 @10:49PM
(#21237996)
They all charge almost no fees and there is almost no money to invest for interest. Monzo is very transparent with their financials and when I checked in mid 2018 their account balances totalled a mere 150 million USD. A single rich person might have that in an older bank.