Metro Bank - Current Account and Debit Card Queries

osaddict

I'm tempted to trek to Holbon (even use the Central line ha ha) to get me a Metro Bank current account and hence debit card.

From looking in their T&C (and reading general information) it seems that:

* Payments made overseas are converted to GBP at the MasterCard rate which is basically as good as it gets for a debit card and so in effect this would match Halifax Clarity for exmple.

* ATM withdrawals (anywhere in the world) are at zero charge - so for example taking out 100 USD in NY or 100 EUR in Paris costs whatever the MasterCard rate is between USD/EUR and GBP on the day in question (This obviously assumes I'm not using a stupid ATM inside a pub or newsagent etc).

Are both of these assumptions correct? Because if they are (as I believe them to be) I don't understand why MetroBank don't make a massive point about this on their website? (I had to trawl through the T&C to find it), just seems odd!

Now, on to my other question, online access...

Would I be able to use my NatWest current account (for which I have online banking) to 'feed' this account and then view the balance online?

Likewise, if I wanted to move money from MetroBank to NatWest would this be possible via their online portal?

It seems this would be a great backup card to have abroad in conjunction with Halifax Clarity card (in fact better in the case of cash withdrawals!)

COIAHLGW

Unlike the UK, just about every ATM in America will add a fee for withdrawing cash added by the operator of the machine if your card does not belong to that bank.

Having said that, for the sake of $3 or so - it is still not really worth complaining about. Just make fewer larger withdrawals rather than several smaller withdrawals. Most places accept the debit card for even small purchases.

Just remember to select "credit" at the point of sale rather than "debit". This just means you will be using Visa or Mastercard to process the transaction rather than an American debit card network that your card would not be affiliated with (example NYCE, Pulse or Interlink).

osaddict

Thanks for the reply

I wonder how that compares with Europe on the whole?

I saw a post yesterday with a list of non charging atm locations in US so i guess i should give that a read and try to find some in NY.

benjus

The Metro Bank online site is not the prettiest, but it is functional and you can do things like transfers easily enough. However, note that Metro Bank can receive Faster Payments from other banks but not send them - so transferring funds from Metro Bank to NatWest will still take around 3 working days.

Most ATMs in Western Europe are free to use, so you should be fine there. In fact, you could well be better off than a local, as banks in Spain (for example) often charge customers of other Spanish banks to use their ATMs.

As has been widely discussed, make sure all transactions are made in the local currency - if an ATM or a retailer offers to convert to GBP for you, you should decline.

osaddict

I'm not fussed how pretty it is, just so long as it's secure! Speed is also not overly important for transfers either way to be honest so no worries there.

Cool, sounds like I'll be okay in most of Europe, I guess I'll have to be more careful in the US though.

At the moment my plan is to try and use card as much as possible, Halifax Clarity, if I do need to get cash then use Metro Card. As far as I'm concerned Halifax and Metro should be identical for card purchases except Metro will take the cash there and then and Halifix I'll have to pay it off (I have it linked via DD to my current account to pay in full anyway though).

Thanks for the reminder on the local currency/gbp/dynamic loading. I've heard that a few times now so hopefully I'll not fall into that trap!

COIAHLGW

You may have luck with a credit union ATM rather than a bank ATM in America. I have managed to withdraw cash from a credit union ATM without being charged the surcharge, but I have not found any consistent rules.

And as always, this can be subject to change at any time... Banks are always looking to claw back money from consumers here when banking laws changed. They lost a lot of revenue when consumers now explicitly have to agree to overdraw the account.. so banks lose out on the fees.....

inmypocketnottheirs

For free cash machine withdrawals in the US open an account at https://www.citibank.co.uk. You can have a sterling/euro/dollar account and switch in real time between all three. You get a visa debit card that can be switched to any account just on a phone call. Dollar rate better than Caxton fx.

The only drawback: at the moment no sending or receiving faster payments.

Jonny_B_Good

Hello everyone,

In my humble opinion, Metrobank are charlatans. When I signed up I was looking for a breath of fresh air from the usual high stree dross. If you scratch the surface of cringe-making terms like going to the 'store' instead of the 'bank' and the fact they've spent money on dog biscuits, the emollient but uninformed staff (beyond the account opening process) then Metrobank are just dire. The litany of charges against them includes:

-shadowing (i.e. debiting the same amount twice) card transactions
-intrasigent call centre staff
-poor acceptance overseas in shops because the 'swipe' element of the card is mostly disabled
-inability to maintain direct debits on the clunky website

Just my opinion. It is early days, but given how hard it is to use the card overseas, the difficulties with even slightly unusual transactions (i.e. overseas, offline authorisaion retailer) it's not worth the hassle.

The one thing they're excellent on is foreign currency. Saved £15 as against post office rates when converting sterling the the dollar.

System

<sigh> In my humble opinion Metro Bank is excellent. You speak to a real person when you ring them, that person rings you back to check all is OK, the web site is one of the best I have experienced (and that includes most UK and Irish banks). I really can't fault them. I have used my card in shops and ATMs abroad and have had an excellent exchange rate with no issues. I was in Berlin at easter and got a phone call from my Metro Bank branch just checking that I was indeed on holiday and that my card wasn't being used fraudulently. Full marks to them.

Faster payments out has not been implemented yet admittedly and you have to ring them to cancel a direct debit. It is work in progress. They have completely overhauled their online banking site recently and intend bringing out an iPhone app shortly.

Regarding using the card abroad, accepted wisdom suggests that you never, ever rely on one card however good the bank. I always travel with at least 4 cards - a couple of current account debit cards and two or three credit cards. When there is a problem I find it is usually with the local bank and you can never foresee that problem.

I switched to Metro bank last around a year ago and am very pleased indeed with them. No intention of going elsewhere.

heloid

Metro bank has been brilliant for me as a holiday spending card. Been fine all over Europe and the Middle East.