The first banking disruptor?
In 1984 one UK bank was concerned about losing customers and made a decision that fundamentally changed how Britain’s banking landscape operated.
Midland Bank, then one of the UK’s big four banking groups (now HSBC), got rid of fees for cheques, statements and standing orders.
In other words, it made personal banking free of charge – although it might be better to describe the move as ‘free in credit banking’.
