MSE News: Metro Bank opens its doors today

huw01

This was on BBC Breakfast this morning. I can't see it catching on to be fair. They kept on saying that a high percentage of people will never change their bank and are more likely to get divorced than change banks. On the telly they always state that the majority of people are fed up with their bank - are they ? I don't think so, I think most people stick with one bank from early on in their life and don't change because on the whole they are pretty happy with them.
I can't see this Metrobank meelarkey catching on to be honest with you.

Olipro

according to the terms and conditions of their current account: "If you make a debit card payment in a foreign currency, we will change the amount of the transaction to sterling on the date we pay it out of your account using the rate for the transaction which is set and provided to us by MasterCard."

no mention of a commission, so either they're not descibing it accurately, or it's as good as it sounds.

Dr_Cuckoo3

MSE_Guy wrote: »

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

"The first new bank to launch in over a century enters the market today with its one London-based branch ..."


and from the full story link "The first new current account-offering UK bank in over a century launches today."



Metro Bank certainly isn't the first new bank to launch in over a century , nor is it The first new current account-offering UK bank in over a century (even if you wished to restict the criteria to banks with branches open to the public and exclude private banking current accounts)


Islamic Bank of Britain is a UK bank offering a current account and has branches , and was launched in 2004


ICICI Bank UK PLC is a UK bank offering a current account and has branches , and was launched in 2003

There are other banks such as Bank of Cyprus UK , Punjab National Bank , Bank of Baroda offering current accounts with a UK banch network


Assuming that "The first new bank to launch in over a century /The first new current account-offering UK bank in over a century" includes banks that have been established within the last 100 years and subsequently ceased offering current accounts , merged with other banks or ceased trading

Then there are Girobank founded in 1968 , Western Trust & Savings Ltd established 25/01/1966 disolved 05/11/2008 ,Secure Trust Bank was established in 1952 and offered branches and current accounts in Birmingham and Bradford , the Bradford Branch was previously owned by another bank

I cant remember whether BCCI offered current accounts


Zurich Bank , Cahoot , Smile , First Direct are not banks in their own right but do represent the most recent new current accounts offerings prior to Metro Bank , only First Direct has been a sucess


Building Societies were only allowed to offer Current accounts from the late 1980's / early 1990's , therefore they are the most recent branch based current accounts prior to Metro Bank , some of those building societies are now banks and would meet the criteria of "The first new current account-offering UK bank in over a century " if "bank" is applied retrospectively

Dr_Cuckoo3

A video of people queuing up outside the branch to open an account




http://www.bbc.co.uk/news/business-10804019



Seems pathetic to me , why queue on the first day ?- what is the urgency ?, unless they are desperate for a dog biscuit and to use the loo


Mind you I do have an account with a low A/C number 00000592



Anyone know Metro Bank's sort code or who they use for clearing ?

Dr_Cuckoo3

KingElvis wrote: »

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

I think they have security guards (there is someone in a high viz vest at 1.57 on the video - you can see his reflection in the window)
http://www.bbc.co.uk/news/business-10804019

HSBC offer free tea and coffee , Yorkshire B/Soc offer free hot mars bar drinks - so it will take more than a dog biscuit to make me switch

huw01

Dr_Cuckoo3 wrote: »

A video of people queuing up outside the branch to open an account




http://www.bbc.co.uk/news/business-10804019



Seems pathetic to me , why queue on the first day ?- what is the urgency ?, unless they are desperate for a dog biscuit and to use the loo


Mind you I do have an account with a low A/C number 00000592



Anyone know Metro Bank's sort code or who they use for clearing ?

Seems like a load of nutters to me , yeah of course I'll give a bank with no customers and one branch my money to look after

Spooneroonie

I completely agree - why would you queue for hours to open an account, when one of the few things that is supposed to make Metro special is the fact that account opening times are supposed to be quick?

From the pictures it looks as though the decor was sourced from end of the lines at IKEA, so my summary is: the format looks tacky, the website is laughable, the products are boring. How many incontinent customers with dogs are there in central London?

Toe-Jam

Anyone got a picture of the debit card they are issuing ?

I might apply next week seems to be only good for foreign currency this account.

puddy

do people actually use bank branches anymore, i cant remember the last time i was in one

housesitter

I's a rather effective place to be when you have a complaint.

Plus it's better to have a face and a name rather than just a phone number so if something does go wrong you get to talk to the same person rather than a droid on the end of a line.