Unhappy with Metro bank

Cocomarine

My husband and I run a small business and decided to switch from one of the big banks to Metro business account as they don’t charge fees if £5000 or more in balance. After several weeks and several long visits to the branch, finally told us our business account is approved and good to go. Sent us several emails, phone calls and text messages assuring that.

Two days later, however, they called us to say they are going to close the account. Only explanation given was that they still (?!) needs an approval from the head office! To make matters worse, we transferred some money into the Metro business account the day before! We asked for clarification as to where our money is and also why the closure, but no answers to our emails and call back requests. Got our money back the next day, but could have been disastrous if we gave our clients our new Metro bank details!

Very unhappy about the whole thing and keeping us in the dark. Seems to show how grossly incompetent they are in doing what they are meant to do, i.e. opening and switching accounts, and not customer-focused at all (we already hold personal accounts with them). They spent a lot of time trying to persuade us to switch our main personal accounts to them, too, but we are glad that we didn't.

If approved, should we go on? If not for some unknown reasons, would that affect our credit scores? Either way, what is the best way to complain?

Archi_Bald

Cocomarine wrote: »

If approved, should we go on?

I am surprised you ask that after the experience you made.

Cocomarine

I guess we are hoping to see if this is one off incident, or Metro bank really is as bad as our experience.

Archi_Bald

It's your business, your decision.

ChiefGrasscutter

Interesting thread on the savings board....
Their Fixed rate issue closed to anymore ONLINE applications, but still open to branch applications.
Well that is a new way of doing business for sure!
https://forums.moneysavingexpert.com/discussion/5359106

Thrugelmir

Cocomarine wrote: »

I guess we are hoping to see if this is one off incident, or Metro bank really is as bad as our experience.

Head Office obviously made the decision on some information they obtained. Look elsewhere. That's the nature of business.

Cocomarine

Thrugelmir wrote: »

Head Office obviously made the decision on some information they obtained. Look elsewhere. That's the nature of business.

Yeah, we know. But the point is they actually opened the account after HO approved it first time, and then suddenly closed it. After they told us our account is approved, we test-transferred a quid to see if it works and it worked. But the quid is still with them at the moment even after the closure. What if we transferred a lot more?! Found them really unprofessional and looking into a way of complaining.

bubieyehyeh

You said in your first post "Got our money back the next day". Now your saying then still have a whole £1, which is it?