The Citi Never Sleeps

I was surprised to get a letter this week from HMRC letting me know that they’ve moved their banking to new “suppliers.” Apparently they’re moving to:

and to

I’m sure this was all carried out through open competition but am I the only one who finds it odd that HMRC would use an American bank, and incur unrecoverable banking costs with no equity upside, when HMG owns so much of the UK banking industry?

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