@TrebaI still keep some money in commbank for a potential...

@Treba
I still keep some money in commbank for a potential emergency ATM cashout via the app, and carry no cards with me - that's also a limitation for most neobanks I guess, which gives existing banks like Commbank a leg up there (i'm keen to see how neobanks/Douugh tries to address this). One of the reasons I haven't moved the remaining of my direct debits/subscriptions over is out of pure laziness tbh and also because Up doesn't automatically transfer my salary into my Saver (so yes my pay still goes into my commbank account). It does have scheduled transfers which I can schedule for the night of my salary coming in, but I'd rather it happen instantly. Now Douugh's Autopilot is something that seems to address that.

You're right in that there will be people that have more than one bank account, since you may not fully trust a neobank or you're in a similar situation as I am, and that Douugh will need to be compelling enough for users to migrate over entirely. Also helping you migrate your direct debits over would greatly help (in my case haha). With their feature pipeline so far, Douugh looks to be a one-stop shop for personal finance+wellbeing, with a Credit jar (BNPL) and Wealth jar (ETFs etc.), and would use a subscription model - which means that for customers that see value in those additional features and choose to subscribe, that would be another stream of revenue for Douugh. So while they would most definitely look to get people using their Douugh debit card exclusively, they won't need to rely on it entirely. That is different to the other neobank/fintechs I've seen so far. I must emphasize that they need to have features worth paying a monthly subscription for, so that's on Douugh to make a compelling case for with the features in their pipeline. I do see lots of potential here, and like that they're taking bold steps with a BNPL+Investment offering. There seems to be a ticket on Trello for a Crypto jar - which I guess means we can pay/receive and store cryptocurrencies. Now I personally feel that crypto is too volatile to replace a currency atm, but I do see the benefit in Douugh being a crypto wallet - but lets see if they decide on pursuing that.

To sum it up: Douugh's customers may have accounts with more than one bank, but their business model doesn't rely entirely on interchange fees. If they're able to nail the upcoming features in the pipeline and give customers a compelling reason to subscribe to a plan, whatever form that may be, then they're able to diversify their revenue streams.