Tương lai số tài khoản ngân hàng

là người dân dễ dàng chuyển ngân hàng, như đổi nhà mạng nhé...

-----

The $109 Billion Bank Hustle

by Matt Stoller,

...Even though there are banks that try to lure depositors, most consumers and small businesses don’t switch accounts very quickly because of lock-in costs. As Chopra said, “changing a bank account is a huge pain,” as ”direct deposits need to be reset, as do scheduled payments linked by ACH or debit card.“ To change bank accounts means redoing all of this, while making sure you have enough money to pay everything you need to pay. This ‘lock-in’ effect is somewhat similar to switching phone carriers without being able to move your phone number, or changing email providers without being able to forward email. It’s usually not worth it, because the friction - intentionally put there by incumbents - is too high.

'up light a rocket, down like a feather’

...How much does this lock-in effect matter? Well, Klein showed that two fifths of the increase in bank service revenue is a result of organic growth, aka people saving more money, while the other three fifths is pure pricing power. As he put it, “banks have made a lot of money off of consumers in the past few years by failing to adjust the interest rates they pay by changes in market conditions and by failing to adjust the interest rates they charge by changes in default risk.” So there’s been “a boom” for banks “with almost no increase in the value of the service provided.”

How much is this pricing power in absolute dollars? Banks had $239B in annual revenue from this line item in 2013, and $421B this last quarter. If you take three fifths of that amount, it’s $109 billion of extra revenue banks are getting from doing nothing except locking in consumers to their bank accounts.

...The CFPB, because of a provision in the Dodd-Frank Reform Act, has authority to require banks to force interoperability of banking data. That means people would be able to more easily switch their bank accounts and credit card products, without having to lose all of their ledger data or having to redo all of their direct deposits. Neither the Obama nor the Trump administration did anything with this authority, but Chopra is going to exercise it, starting with letting people have freedom to move their own financial data.