MSE News: Metro Bank opens its doors today

edited 29 July 2010 at 9:46AM in Budgeting & Bank Accounts
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Former_MSE_GuyFormer_MSE_Guy Former MSE
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edited 29 July 2010 at 9:46AM in Budgeting & Bank Accounts
This is the discussion thread for the following MSE News Story:

"The first new bank to launch in over a century enters the market today with its one London-based branch ..."
Read the full story:
Metro Bank opens its doors today
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Replies

  • anyone there for the launch? I like the idea of longer opening hours, instant credit card printing etc :)

    will be hard to get people to move now though, I think
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  • Mr_£Mr_£ Forumite
    7 Posts
    Well so far it doesn't seem any different to any other bank! (except the dog biscuits, of course, but not having a dog, it's a little lost on me!)

    High charges for overdrafts, authorised or not, low savings rates but great customer service.

    In my experience most banks offer good customer service when you're in credit and have no financial issues, it'll be interesting to see how Metro will try to differentiate themselves when someone calls them, heavily in overdraft and with no means of repaying!

    Trying my best not to be cynical but is there too much spent on Marketing and not enough on the customer?

    Next time I’m in central London I’ll give them a go and decide for myself!
  • premierfellapremierfella Forumite
    875 Posts
    Part of the Furniture 500 Posts Combo Breaker
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    I note that Metro Bank accepts faster payments in, but is not able to send payments out using the faster payments service for the time being.

    I would only consider using a current account without faster payments out if they were offering Lloyds Vantage/Halifax Reward style interest/bonus rates or some other added benefit. Metro Bank aren't (the extended opening hours and instant cards are of no real interest to me), so its a no from me until they are fully faster payment enabled.
  • I'm pretty seriously underwhelmed. The current accounts looks pretty much the same as everyone else's (except the package account, which looks worse).

    I find it hysterical the amount of mileage they are getting out of dog biscuits in 'store' - presumably they are promoting this, because there aren't that many customers with dogs in Central London? I would love to know what happens when half a dozen dog walkers go in with three dogs each. I suspect their much vaunted 'Customer Experience' would become pretty ropey.

    This 15mins to open an account is clearly pretty impressive, especially if you can walk out with a fully working credit and debit card, but this is only really a benefit if you want to open an account, so doesn't seem to be actually all that meaningful.

    Their website is the most hysterically amateurish looking thing I have seen in years. I agree with Mr £, spend less on dog biscuits and marketing and more on actually providing a good service.
  • robpw2robpw2 Forumite
    14K Posts
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    i would be a bit suspiscious about them being able to print cards an pins in 15 mins you only need one bad apple and you could find that there are two copies of your card been printed and two copies of you pin
    im concerend at their marketing tactic of dog biscuits .. children bored in the bank whilst mummy is waiting may end up eating them


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  • They seriously need to sort out their website. The indian restaurant down the road has a more impressive site!
  • MrTomatoMrTomato Forumite
    771 Posts
    A 15 minute wait for a card is all good. But that's not an idea used often by individuals. Online banking is however something used often. Do they even offer that? Their website is crap, unless they have a special customer version.
  • edited 29 July 2010 at 1:51PM
    heloidheloid Forumite
    472 Posts
    edited 29 July 2010 at 1:51PM
    Hmmmm, might get one just for the debit card/free foreign transactions..

    EDIT: When they get their online banking working lol - apparently its 'coming soon'
  • preablepreable Forumite
    2.1K Posts
    Debt-free and Proud! Mortgage-free Glee!
    Not realy that much better than a normal bank
  • KingElvisKingElvis Forumite
    4.1K Posts
    When all those branches are open it will be a useful place to drop your guts because the toilets are open to everyone, not just customers. You can always gnaw on a dog biscuit while you take a dump.

    I can't wait for them to get some crazy old tramps, drunks and winos in there :p
    "We want the finest wines available to humanity, we want them here, and we want them now!"
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