Metro bank - new customer review

blackrat779

Hazzanet wrote: »

They have access to DDs outwards, so there's no problem setting up your monthly DD to the council.

To collect DDs from Joe Public's accounts, you have to jump through several hoops (money on deposit with a sponsoring bank, Director's personal guarantee among other things) before you can get a Service User Number. I'm guessing that Metro are still jumping through these hoops with a sponsor as their liability would be significantly more than mine.

Their sort-code seems to belong to the Barclays range, so I'm guessing they do their clearing through them.

Thanks for the info. I think many people looking at this site before opening an account will be grateful for your type of balanced view rather than too much praise or too much criticism.

Some of the criticism from others may well be justified but not everyone seems to be experiencing it, so it may be individual cases.
My transfers for example (small amounts to test the system) have all gone through within the hour. (I only checked after an hour so it may have been faster) For me this is quick enough.

I guess its the old story of not being able to please all of the people all of the time.

Cheers,
Blackrat

innovate

blackrat779, do you think it is time to declare your full relationship with Metrobank?

blackrat779

innovate wrote: »

blackrat779, do you think it is time to declare your full relationship with Metrobank?

I guess you missed this from my earlier post. I am only speaking as I find and have nothing to do with the banking industry.

It's probably worth saying that I am nothing to do with the bank other than being a customer trying them out.

It may be that I will change my opinion with time.

Cheers,
Blackrat

innovate

apologies, blackrat779, I missed your previous post about your declaration. Thanks for closing the loop, and good luck to you (genuinely).

Anthorn

CitySlicker wrote: »

I know I risk being a bit controversial with this question, but why is anyone banking with this bank? Their rates are not competitive and the only thing I can see being a bonus is the extended opening hours.

The answer is that some people don't like their bank particularly if it's one of the big (high street) banks and they will go anywhere that's different: They blame the banks for the crisis of 2008 and didn't like it when those banks were bailed out with billions only to use most of the funds to pay fat bonuses to their no doubt equally fat executives. Also demutualisation and the narrowing of alternatives has led to depersonalisation to the extent that bank customers are now little more than numbers in a database.

So people are voting with their feet and moving on to new horizons where personal service and a fair fee structure are the carrots. Metrobank isn't the only bank to benefit, Handelsbanken is also seeing growth as well as the old alternative stalwart, the co-op although the co-op too is becoming something of a dinosaur.

alanq

CitySlicker wrote: »

Their rates are not competitive ...

This may have been true when CitySlicker wrote that in November but in the current climate MetroBank's 18-month fixed-rate bond is paying amongst the best rates for 1-2 year bonds....which is not saying a lot!

NManthey

NManthey wrote: »

My experience of Metro Bank has been very positive. I opened my account in the Reading branch on 31 Dec 2012. The whole process took about an hour.

They issued the cards and pins there and then. They made sure I could log into the internet banking site.

Used their switching service so far no complaints. I get a weekly call from the Switching Team to let me know how the transfer of my Direct Debits and Standing Orders are going. They have contacted my payroll department to tell me them to payment my salary into my new account. I have checked with payroll and all looks good.

I get paid on the 31st and the DD’s go out on the 1st so will really see how good the switching service is.

Their internet banking site could be better but am sure with time it will be. Currently bank with Lloyds TSB and their internet banking site is very good.

Just an update to say the switching service worked very well. Salary and DD's and Standing orders all transfered smoothly.

saker75

Apologies for digging up an old(ish) thread.
I am considering switching over to Metro bank. Having visited them in Tottenham Court Road and also in Reading the customer service experience has been unlike any other banking experience I've had. They have been brilliant. It's as if somebody has taken a sheet of paper and said "what should a bank in 21st century look like" and started afresh. If I had kids then the coin machine and children's accounts would be great.
I have opened a current account but haven't committed to moving over to it completely yet. The barrier for me though is their online banking. It just seems a little bit rubbish - kept crashing in Firefox and the design in a little dated.

blackrat779

Saker75,

Like you I have opened an account and I am trying Metro Bank out. I have been with my bank, Nat West for 35 years and everything has been ok. To be fair I have never given them any problems. My son on the other hand has plenty of problems with Nat West and their customer service seems to be all over the place, some good, some dreadful.

Banks no longer reward customer loyalty because they don't know who you are anymore. People used to know their bank managers once upon a time. So, in my opinion, its up to customers to get what they want from whoever supplies it and no longer feel loyalty to the banks.

For me customer service is high on the list but so is functionality. For me the only slight issue with MB online is that the transactions and balance don't reflect my days spending and tend to lag a day behind, my Nat West account is much quicker.

In every other respect Metro Bank has done what they said they would do. I dont have a local branch yet but this is being built and due to open in April, so a non-problem. I am a shift worker, so to have my bank open when I need it is great.

I know Metro Bank have a phone app coming soon and this will have to compete with the likes of the Nat West app (very good).

I think when the branches are all open and the dust has settled they will have to compete against the big 4 more and more. Speedy opening of accounts will no longer be relevant to the majority as they will have their account. The majority will not be concerned about a change counting machine, so things like the internet banking and how you are dealt with in branch will become even more important for them if they wish to keep up the momentum.

For me, so far so good with Metro Bank. I will be testing their cards abroad soon (but will have back-ups). Once the local branch is up and running I will strongly consider moving my main banking to them. If it doesn't work out there will be no customer loyalty on my part, I will move to whoever gives me what I need.

Cheers,
Blackrat

System

Is it anymore basic than First Direct's current offering?

saker75 wrote: »

Apologies for digging up an old(ish) thread.
I am considering switching over to Metro bank. Having visited them in Tottenham Court Road and also in Reading the customer service experience has been unlike any other banking experience I've had. They have been brilliant. It's as if somebody has taken a sheet of paper and said "what should a bank in 21st century look like" and started afresh. If I had kids then the coin machine and children's accounts would be great.
I have opened a current account but haven't committed to moving over to it completely yet. The barrier for me though is their online banking. It just seems a little bit rubbish - kept crashing in Firefox and the design in a little dated.