This will happen by offering free foreign transactions and fully digital wealth management. Credit Suisse’s new CSX banking app will offer free online banking from next month, along with other lucrative services which will be added over coming months, including taking out mortgages, making investments, and planning pensions. Digital competitors like Revolut and N26 have amassed millions of customers and billion-dollar valuations by offering cheap, user-friendly alternatives to traditional banking services. Undercutting incumbents on pricing for foreign exchange, stock trading and money transfers, they are particularly popular with younger customers.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.