Yep, I probably won't bother switching to them now as Chase provides a good service as far as I know, though I do get a bit twitchy about its U.S. links. However, it's headquartered in the UK and is a division of J P Morgan Europe, so I hope that provides some level of distancing from the inevitable economic collapse of U.S. A.I. companies.
For what it's worth, JP Morgan specifically is probably the best positioned of all the major banks to endure any political and/or economic instability that might arise in the near-ish future. Not that this should necessarily drive your decision on who to bank with, but having spent the last decade or so working at various large US banks I have a lot of respect for the way JPMC operates
- The vast majority of their infra (at least as of ~3 years ago) is self-hosted in data centers that they own, and a lot of their other key cloud infra is/was multi-cloud (i.e. operations could fail over to GCP in the event of an AWS outage)
- Financially they have the healthiest balance sheet of any non-state-owned bank (like, in the entire world). Over the last ~20 years JPMC has acted as a sort of lender of last resort several times, most recently when they bought out First Republic.
- Politically, after navigating the aforementioned instability Jamie Dimon has almost carte blanche support from the shareholders, and everyone knows it. As a result, he can afford to be a lot less... compliant with the current US regime than other major players have been recently.
Thank you, this is great insider info. I only wish they had free checking accounts; they have all sorts of requirements in order to waive their monthly fee. Then I’d switch in a heartbeat because of your post.
Yep, I probably won't bother switching to them now as Chase provides a good service as far as I know, though I do get a bit twitchy about its U.S. links. However, it's headquartered in the UK and is a division of J P Morgan Europe, so I hope that provides some level of distancing from the inevitable economic collapse of U.S. A.I. companies.
For what it's worth, JP Morgan specifically is probably the best positioned of all the major banks to endure any political and/or economic instability that might arise in the near-ish future. Not that this should necessarily drive your decision on who to bank with, but having spent the last decade or so working at various large US banks I have a lot of respect for the way JPMC operates
- The vast majority of their infra (at least as of ~3 years ago) is self-hosted in data centers that they own, and a lot of their other key cloud infra is/was multi-cloud (i.e. operations could fail over to GCP in the event of an AWS outage)
- Financially they have the healthiest balance sheet of any non-state-owned bank (like, in the entire world). Over the last ~20 years JPMC has acted as a sort of lender of last resort several times, most recently when they bought out First Republic.
- Politically, after navigating the aforementioned instability Jamie Dimon has almost carte blanche support from the shareholders, and everyone knows it. As a result, he can afford to be a lot less... compliant with the current US regime than other major players have been recently.
Thank you, this is great insider info. I only wish they had free checking accounts; they have all sorts of requirements in order to waive their monthly fee. Then I’d switch in a heartbeat because of your post.