The First Banking Disruptor?

Summary

The episode examines Midland Bank's 1984 decision to eliminate fees for cheques, statements, and standing orders, effectively making personal banking free in the UK. It explores how this bold move reshaped the competitive landscape, prompting other banks to adopt similar fee-free models and accelerating the shift toward credit‑driven banking. The discussion highlights the strategic thinking behind the disruption and its lasting impact on consumer expectations and banking business models.