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I was taught never to put all of my eggs into one basket. The reason that I use multiple financial institutions is to safeguard my money. If one gets into trouble, I still have access to funds elsewhere. What juristiction would X Bank fall under? If US, then I would definitely not bank with it.

Having spent 17 years as a Coutts customer and one year with HSBC Premium (which was a disaster), I moved to Nationwide Building Society and have not looked back. They are excellent. Who needs a neobank?

Why is the bank not named?

Nowhere in this article is the bank named.

But they have still managed to close two of my local branches - Whetsone & Southgate. In addition, the Moorgate Branch, which is my work branch, is closed on Mondays & Thursdays. Yes, they are doing better than most of the high street banks, but I am not impressed by the PR.

The last paragraph is the key. If banks charge ahead with instant payments without Confirmation of Payee (CoP) fraud is going to excalate at an alarming rate.

Time for hackers to target Russian Banks

Have not written a cheque in 10 years. Cash, debit card & credit cards are all I need. All utility bills are paid by direct debit.

The one ting not to do is put money into a pension fund. My pot, which is £105,000, increased in value by £100 last year, after charges. The same sum in an ISA or even a simple savings account, would earn 3-4%. The killer is charges.

You have not mentioned the downside of digital payment. That is that everything you spend is trackable, regardless of whether you want it to be. Cash offer anonymity and there can be good reason why you may wish it to remain so. It is always assumed that this offers criminals and tax evaders the opportunity to operate, but it is not the case.