MSE News: Metro Bank opens its doors today

opinions4u

How many clicks does it take to find out the interest rate on a savings account? It's a minimum of 4 if you know the route and even then it appears to be buried in the small print. Using an unscientific test of two guys at work, it took both of them 7 clicks to get to the instant access savings rate.

The web site is dire. So many hyperlinks that don't exist.

The products are distinctly average. Really.

The service? Draw your own conclusion from those who are currently trying to use the branch!

I finally got my account yesterday. It was my 3rd attempt. The queues on Saturday and Sunday were so long (2 hours plus) that I didn't want to wait.

By the way, do people really walk their dogs and go banking in central London at the same time?

pumpkin_eater wrote: »

They give a current account to ANYONE no matter how low the credit score, defaults, CCJs etc.

If I've understood their small print correctly, they won't. They will make their Cash Account open to anybody. I'm unable to see reference to a debit card facility on this (skim-reading, so feel free to search for it).

So, inferior to a typical "basic bank account" elsewhere?

politicfool

From http / www .metrobankonline.co.uk/about-us/

The vice chairman of Metro Bank is Vernon Hill, the same guy who ran Commerce Bancorp, a chain of banks in the northeastern USA. Hill was famously brought low by some unsavoury business deals and forced out from Commerce, which was then bought by TD Bank.

See http / en. wikipedia.org/wiki/Vernon_Hill and http / en. wikipedia.org/wiki/Commerce_Bancorp (sorry can't post with links as a newbie).

From what I can tell, Metro Bank looks exactly like Commerce - free coin counting, dog biscuits, open seven days a week - which might be a good thing for consumers in the UK, but hopefully they can avoid some of the shady deals of their American predecessor!

Equatorial_Guinea

Also, I got a FREE sandwich maker for opening up an account. NatWest never did that for me!

MrTomato

Equatorial_Guinea wrote: »

Also, I got a FREE sandwich maker for opening up an account. NatWest never did that for me!

You get a wife?:rotfl::rotfl:

I joke......

But sign me up!! I love a good sandwich, and they give you a money box, what more could you want in life?

Equatorial_Guinea

I'm a woman and I'm straight, so that would be a no. :P

MrTomato wrote: »

You get a wife?:rotfl::rotfl:

I joke......

But sign me up!! I love a good sandwich, and they give you a money box, what more could you want in life?

proeleche

Does anyone know which CRAs Metro bank are using for their various products?

And while they may not have the best deals and the website isn't great, I think some of their products look OK and are definitely better and/or the same as the other big banks. In addition, they're terms and conditions are straightforward and I think the various fees and charges are transparent and fair.

ticketcollector

Went in on the very first day and got my free money box (which is a massive big M complete with holes at the top) Was told there was a 3 hour wait top open an account and to come back tomorrow.

Went back the next day and told was an hour wait.

So far there's been 3 mess ups.
They've lost two crossed postal orders ive paid in.
'Mislaid' my coin counter credit.
and left me waiting for 2 hours.

They've now found the postal orders, (or more likely absorbed the loss) after i've given them the receipt proof, and admitted their mess up.
They've found the coin counter credit, it had gone into a pending bit on my account, but hadn't actually been accepted !!!
As for the two hours wait, they again admitted the mess up, but bribed me with a free £20 customer guarantee, credit.

As for the card, it was delivered to me personally in around 15mins. I had to then put it into a chip n pin read and activate the card, The pin I had to choose myself.

Metro use Barclays as a clearing bank.
As for transfers, they are not yet part of Faster Payments. (week 3-4 apparently).

Toe-Jam

Went to open an account, Had to wait for an hour and a half before someone could open it. Then had to wait for a whole day while they did the credit check.

There is absolutely nothing new about this bank, in fact its worse than anything available at the moment, it doesn't even have internet banking, or faster payment.

Snakeeyes21

Have you seen the free money counter video, its so crap.

You can tell its styled from America, guess how many pennies you have and get a prize.
https://www.metrobankonline.co.uk/Community-box-pages/Magic-Money-Machine/

Its like some game show set from the 70s, I was half expecting some cheesy music to come on and some soft core !!!!!!

P*ss off back to America with your simple ways.

Red_Rabbit

Can you apply over the phone? Or is it just in branch?

thanks