You know, no matter how much you explain, some people never manage to get it. Take Wonga and the thorny question of APR, for example. Wonga - the acceptable face of credit. Now I’m not going into compound interest’s mysteries and related technobabble. Let’s just look at the reality of how life is and take it from there.

Before the crash, we trusted banks and most of us funded our lifestyles with credit. Nowadays, most people are recovering from first-degree finger burns and avoid credit like gasoline on bonfire night.

But life still bites. You still get unexpected bills that threaten the next meal’s arrival. And if that happens – and you’re smart – you’ll appreciate Wonga…

Here’s a question for you. Imagine all four banks merging. What would we lose? OK – so they wouldn’t share one trough – and no one makes one that big. four brands - yet nothing to choose between any of them. Are we being served?

If our high street merged, what would you take from each to form one super bank? I’ll leave you for a minute to have a think about that one.

For all banking’s “talent” and money, why so little to choose between each one? Why can’t we find a killer product or even one differentiator?

How can this be – in other sectors key differences exist. Why not in banking?