Phone number portability has been around for ages. In many countries it is common practice to bring your number when switching provider. This isn’t the case for your bank account number. While people are switching telecoms provider for a better deal every now and then, they tend to stick at their bank forever. Although a better service or better price maybe waiting just around the corner.
Why: because it feels like a hassle! And the established banking community wants you to keep on feeling this way, causing you to stay put.
We strongly believe that bank account portability would be opening up this market in a way that has not happened before. We want to discuss and share our ideas with interested parties.