And I think punitive fees are going to become a bigger issue. I still see some challenger banks with them, even though they are technically not allowed (at least in the UK).
Where I think Dozens can shine is the simplicity afforded to a wide range of customers in different situations and lifestyles. This is something I do not think high street or the main challenger banks have been good at at all.
For me, high street bank fees don’t hurt if you follow the norm (stay in UK, stay within limits, don’t make mistakes). With most challenger banks, you have to follow their way, which varies. They might have foreign or UK ATM charges, foreign transaction charges with a low free limit (Monzo may make lot of money from customers who didn’t keep track, but at what cost?), lost card charges, high contract termination charges (for pay monthly accounts), or just poor support and lots of time lost with any issue.
It might sound like I want some perfect bank, which I do, but don’t expect that. But I do think there was a space for simpler, worry-free banking which looks to me like Dozens fills, which is also why I invested a bit.