Rob Carrick says outages are going to happen regardless of who you deal with, so it’s good to have a backup plan that includes a no-fee transactional account at an alternative bank
highlight the harsh truth of electronic banking – it’s never going to be 100 per cent reliable. Always have a backup.
Fear of service interruptions is one of the reasons why people stick to Big Six banks instead of trying challenger banks that operate strictly online. But outages are going to happen in online banking, regardless of who you deal with. Having a backup account at an alternative bank is also a kind of audition. You may find you like the combination of zero account fees, decent interest and a full range of transactions so much that your Big Six bank becomes your backup.
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