Collecting a ATM card and pin in a Bank

londoninvestor

Another pro is the coin counting machines in all Metro branches - no need to pre-sort, just dump your change in every few months.

(To be fair, HSBC have some too I think, but not in all branches.)

Wester

I have just opened an account with Metro Bank and transferred £65k from my old bank to Metro Bank

My question is how safe is my money if Metro Bank goes bust ?

Sorry if this sounds a dumb question but I am a slight bit worried

sal_III

Metro bank has the standard FSCS protection of up to £85k, so in case of a bank collapse you have the same protection as more or less any other FSCS protected bank

System

If they do 'go bust' then you'll have the protection of the FSCS plus another Bank/Building Society will almost certainly take over their customer base.

colsten

Leaving the safety access to one side as it's not an issue for Metro deposits <£85K, why would you keep £65K in Metro?

badger09

colsten wrote: »

Leaving the safety access to one side as it's not an issue for Metro deposits <£85K, why would you keep £65K in Metro?

Fixed term savings account?

lindabea

colsten wrote: »

, why would you keep £65K in Metro?

Are you saying it's not wise to keep that amount in Metro?

If the OP means putting the money in a fixed rate account, they currently have some good fixed rates ( admittedly not the very best). Also, if the OP needs access to the funds in the near future, then that would be a good option.

I'd be interested to know your scepticism though

sassy_one

Let's not forget everyone, the OP has been posting very suspicious threads.

Stopping post going to home address / moving large quantities of money around.

I'd be wary of the advice you give them, as I suspect they are involved in concern of fraud.

colsten

lindabea wrote: »

Are you saying it's not wise to keep that amount in Metro?

No, I was just asking.

lindabea wrote: »

If the OP means putting the money in a fixed rate account, they currently have some good fixed rates ( admittedly not the very best).

So no point using Metro for fixed rate savings

lindabea wrote: »

Also, if the OP needs access to the funds in the near future, then that would be a good option.

That's the other extreme to fixed rate savings, and possibly sensible if the short term is days, rather than weeks

lindabea wrote: »

I'd be interested to know your scepticism though

Scepticism is a normal state of mind for Money Saving Experts

badger09 wrote: »

Fixed term savings account?

They're not offering the best rates

malky39

You could go for a starling account they send the card out but the pin is done through the app