How to Kill a Business!
Great example, of how an acquisition can kill a business. NEAT was an amazing business, great service, great interface, and fair fee structure. RAPYD, took over, and completely destroyed it. Crazy fixed fee of $100/Month, slyly slipping it in without proper communication. They claimed they sent an email notifying it, but I never received it. Introducing a fee to close the account of $75. This has to be a first, as I have never heard of a bank doing this. And you would think, with all that you would get more, not less, but 1. Shockingly poor interface. 2. Fewer options, for e.g. you cant even money between your own HKD and USD balances. You have to send your money back to your actual bank account, convert and send it back to Rapyd. 3. No Sync with accounting software like XERO, QBO etc. 4. Significantly worst customer service and response times. I am actually very surprised, Rapyd has got to where it is, but it is clearly not a sustainable way to build a business.