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 Post subject: Re: The AIB thread
PostPosted: Thu Jun 01, 2017 9:21 pm 
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Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


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 Post subject: Re: The AIB thread
PostPosted: Thu Jun 01, 2017 10:04 pm 
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Boston wrote:
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


Buying into an industry ripe for disruption?


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 6:03 am 
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AWAAF wrote:
Boston wrote:
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


Buying into an industry ripe for disruption?


LOL there are no longer-lasting businesses in Ireland than AIB, BoI and Ulster.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 8:36 am 
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Joined: Jan 7, 2008
Posts: 657
Skippy 3 wrote:
AWAAF wrote:
Boston wrote:
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


Buying into an industry ripe for disruption?


LOL there are no longer-lasting businesses in Ireland than AIB, BoI and Ulster.


All it would take to change that is IBAN portability - moving my bank account should be just like moving to a different mobile network. Crazy that this wasn't introduced at the same time as SEPA.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 9:14 am 
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tinneym wrote:
All it would take to change that is IBAN portability - moving my bank account should be just like moving to a different mobile network. Crazy that this wasn't introduced at the same time as SEPA.


I never thought about that.
Excellent point.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 9:52 am 
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Joined: Feb 8, 2007
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AWAAF wrote:
Boston wrote:
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


Buying into an industry ripe for disruption?

I can't see it. Disruption has been happening in capital light sections of the economy. Bank lending is anything but capital light, if you want any degree of scale in the industry, you need billions of capital.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 11:03 am 
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Real Estate Developer
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Joined: Mar 25, 2008
Posts: 877
Location: North Dublin
tinneym wrote:
Skippy 3 wrote:
AWAAF wrote:
Boston wrote:
Minimum €10k to purchase at the planned IPO.

Good investment yes or no?


Buying into an industry ripe for disruption?


LOL there are no longer-lasting businesses in Ireland than AIB, BoI and Ulster.


All it would take to change that is IBAN portability - moving my bank account should be just like moving to a different mobile network. Crazy that this wasn't introduced at the same time as SEPA.


Going a bit OT here - but the reason why moving your number to a different network is so easy is because the system has been designed in that way and it is part of the standard. (Very) Simply put, the phone number is largely irrelevant for the operator as well as call routing. It is achieved (again, very simplified) by having 2 numbers: SIM card and phone number, so all you need is to update the phone number database with the new sim card number and all is sorted. A bit like the link between web URL and IP address via DNS.
IBAN and to a lesser extend BIC are (AFAIK) in fact at the heart of SEPA, and do not have a comparable system. I am not sure if I could see the benefits / ROI on introducing this, for either customer nor banks itself. Open for discussion though.
TelCo innovation move at a much faster speed than banking innovation, so it is much easier to introduce large changes.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 3:42 pm 
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Joined: Apr 9, 2014
Posts: 2128
Compliance with anti-money laundering requirements also makes switching difficult.


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 5:14 pm 
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Joined: Sep 29, 2010
Posts: 8799
Location: London, innit
Luan wrote:
Compliance with anti-money laundering requirements also makes switching difficult.

Number26 made it really easy. Basically a Skype call with someone who looks at your passport over the interwebs (plus you post or scan utility bills)


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 Post subject: Re: The AIB thread
PostPosted: Fri Jun 02, 2017 5:23 pm 
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Property Magnate

Joined: Oct 11, 2012
Posts: 709
I was talking to someone who is in the process of establishing an online retail bank in the US. Says he can easily provide free banking by keeping deposits in US Treasuries and making money out of debit card transaction fees (to the retailer of course, not the customer). Also said the only reason Apple and Amazon don't provide direct banking services is that the terms of US banking law would require the entire corporation to be subject to banking regulations if they did.


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