Combine this with that fact that challenger or “digital” banks are also able to offer:
Interest free overdrafts – all credit cards, major or minor, in the UK were quick to offer no interest on overdrafts and credit cards alongside the governments furlough scheme and other benefits arising in response to the pandemic.
Business and personal help available – many challenger banks pride themselves on the support they give Small-to-medium enterprises and entrepreneurs and can arguably offer an improved, more personal level of support.
Payday loans – most payday loan lenders should be viewed with suspicion, but that does not mean that established traditional and digital banks don’t offer them online.
With more and more headlines referencing the closing of bank branches and the loss of jobs,