Metro Bank 2% savings account

buffman

Every time one opens a fixed rate account, a new instant access account is automatically opened. If you apply for two fixed rate accounts (as I did a few years ago) on different dates, two separate instant access accounts will be opened each individually linked to one of the fixed rate bonds.

lindabea

That's what their T&C state, but some people on this forum are saying that an instant access account will not be opened for Metro current account holders. As a matter of interest, were you able to close the instant access account before the maturity of the fixed rate account? The T&C also say that on maturity, the money will be transferred to a current account or to a nominated account. Their terminology is very unclear.

ColdIron

buffman wrote: »

Every time one opens a fixed rate account, a new instant access account is automatically opened. If you apply for two fixed rate accounts (as I did a few years ago) on different dates, two separate instant access accounts will be opened each individually linked to one of the fixed rate bonds.

Not if you have a current account with them and you do it online. I have opened five or six of them in the past, including one last month, and I have never had an instant access account

buffman

lindabea wrote: »

As a matter of interest, were you able to close the instant access account before the maturity of the fixed rate account?

I needed to keep both instant access accounts open (with zero balance) for the fixed term bonds to be transferred into on maturity.

dosh37

I'm still trying to work out why, after you apply for an new account online, Metro Bank sends you a letter through the post containing a 'Magic Word' that you already supplied as part of the application process.
To me, this serves no purpose unless you forget to make a note of the word in the first place. Sending it back to you through the post just compromises security.
I'm still waiting for my customer number (also sent through the post) so that I can log into the account online.

IanSt

dosh37 wrote: »

I'm still waiting for my customer number (also sent through the post) so that I can log into the account online.

My OH is still waiting for this too. The magic word arrived three days ago but there's no sign yet of the customer number.

Is this typical of the length of time it takes to arrive?

IanSt

In case anyone was wondering, my OH eventually received her Customer Number yesterday - nearly two weeks after the account was opened.

Was then really easy to get online access, just a pity that they don't send it out sooner. The letter we received was dated a week after the one with the magic word on.

xxdeebeexx

IanSt wrote: »

In case anyone was wondering, my OH eventually received her Customer Number yesterday - nearly two weeks after the account was opened.

Was then really easy to get online access, just a pity that they don't send it out sooner. The letter we received was dated a week after the one with the magic word on.

I'm still waiting for my magic word.
I had to phone twice for my customer number which arrived yesterday. I then went on and put in my 'remembered' magic word 3 times and got it wrong each time.
I'm now waiting for my new magic word to be issued.
Gosh it's a long process


d

dosh37

It's ten days now since I applied for a new 12 month bond.
I'm still waiting for my customer number to arrive through the post.
I called into my local Metro Bank branch to find out why it was taking so long but they seemed clueless. They were unable to help without proof of id.

I realise that banks have to take care to avoid fraud, money laundering etc. but nearly two weeks just to open an online account seems excessive.

emily2ton

This is the worst Bank I have ever had dealings with...... I applied for a One Year Fixed Account in the middle of June of this year as at the time it was offering the best rate of interest. I received a letter on the 19th June detailing the MAGIC WORD I had chosen. The letter told me that I could now log on to internet banking, but to ensure I had a customer number. I assumed that would either be sent via email or in a couple of days through the post. By the 24th June I had still not received anything, so I telephoned them and was promised that my customer number would arrive within 5-7 days. Since that time I have made seven phone calls, to no avail. I have been fobbed off with stories saying there had been problems with the system. Needless to say I have become very angry about the situation. On my return from holiday on 24th July I received another letter from them stating that the Bank now considers my complaint had been resolved. It has not, so I phoned again. I was promised that a customer number would be posted that night. If it doesn't arrive today I am contacting the Financial Ombudsman Service. I understand the Bank is in some difficulty.