Why Metro Bank is top?

born_again

eskbanker wrote: »

and review sites (such as Trustpilot) offer a chance for customers to give inherently subjective opinions about what their experience is like, which will inevitably differ massively from one person to another.

Check Trustpilot...
First Direct 1 star.
Metro 2 star....

Yet FD top the vast majority of the polls. Just shows how you get such different perspectives.

Time FCA put a stop to bribes to switch.

TiberUK

alandaniel132 wrote: »

I do not understand why Metro Bank is top in the list of custermer service with First Direct.

Metro bank does not provide any current account switch offer unlike First Direct.

I know it isn't reflected on sites like this, but I honestly think that its a very small minority of people who strongly care about things like switch offers and regularly changing their bank accounts to chase perks.

I am about to switch current account for the first time in my adult life and only because I am moving to Danske to have everything in the same place as my mortgage. Even though I have a bog standard Santander account with zero perks and I shop around for credit cards etc, changing current account always seemed like far too much hassle

Thrugelmir

alandaniel132 wrote: »

What we want at the end of the days is money (high interest and switch offer like £100 from first direct, £135 from halifax)

Banks offer what they want. Customers have to choose from what's available.

If banks don't need deposits (in order to lend money out) they've no requirement to offer high interest rates to attract business. Interest rates have been falling generally for some time.

System

born_again wrote: »

Time FCA put a stop to bribes to switch.

I suppose it's just part of the bank's advertising budget. I'm not averse to receiving a reward IF I wanted to move my current account to that bank anyway and I was going to use it as my day to day account. I'd feel like I'd earned it. I just dislike the idea that a reward could affect my decision and, as I've posted on here before, I really don't like the idea of serially collecting rewards where there's no intention of using the account as it was intended.

Ergates

born_again wrote: »

Time FCA put a stop to bribes to switch.

Why? What harm does it cause the customer?

born_again

Ergates wrote: »

Why? What harm does it cause the customer?

Many people do not choose what is the best account for them as they just see £££.

All bank staff have to complete bribery & corruption courses, because as we know banks are full of it, Yet can't even accept a box of chocolates from a customer for going over and above.
Yet the banks will quite happily bribe customers to join.

eskbanker

born_again wrote: »

All bank staff have to complete bribery & corruption courses, because as we know banks are full of it, Yet can't even accept a box of chocolates from a customer for going over and above.
Yet the banks will quite happily bribe customers to join.

That's not a sensible or meaningful comparison!

A corporate decision to offer customers switching incentives is no more a 'bribe' than offering higher interest rates, or cashbacks, or discounts, etc, i.e. a perfectly legitimate commercial marketing tool.

Actual bribery, involving personal gain for bank employees, is obviously an entirely different matter....

Ergates

born_again wrote: »

Many people do not choose what is the best account for them as they just see £££.

All bank staff have to complete bribery & corruption courses, because as we know banks are full of it, Yet can't even accept a box of chocolates from a customer for going over and above.
Yet the banks will quite happily bribe customers to join.

As Esk says, that's not a meaningful comparison.

And a member of staff at a bank *can* accept a box of chocolates - as long as it's not some ludicrously expensive boutique brand.

Rich1976

born_again wrote: »

Check Trustpilot...
First Direct 1 star.
Metro 2 star....

Yet FD top the vast majority of the polls. Just shows how you get such different perspectives.

Time FCA put a stop to bribes to switch.

Because people generally only use those sites to moan and from what I've seen a lot of it is over petty grievances.

People who are happy are perhaps less inclined to comment until they complete a survey.

Personally most people will have issues at least once in their lifetime with whatever company they use for anything so I'm not interested if First Direct only get 1 star on Trust Pilot. Overall I've been very happy with the service they offer and that's all that matters to me.