Neobank wipeout looms

Monday, 9 March 2020

Via Ian Rogers at Banking Day last week:

Xinja is nursing bruises, a neobank in a fix – from today the bank’s high-yield savings account is a dormant product, a sharp twist to the capital raise the bank has in the market.

Xinja Bank have thus abruptly ended one centrepiece of their customer acquisition strategy.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.