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Metro Bank - In difficulty?

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  • huw01
    huw01 Posts: 380 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    They did have nice pens you could nick, always used to bag a couple when down in london
  • Rob5342
    Rob5342 Posts: 2,417 Forumite
    1,000 Posts Third Anniversary Name Dropper
    On the BBC news it said they are planning to open another 11 branches, they're doomed to failure if they carry on like that.
  • Rob5342
    Rob5342 Posts: 2,417 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Outeast1000 said:
    If Metro Bank does go under would it be a matter of days . weeks . or months . I have a Bank account with Metro Bank and I am worried 

    You needn't worry much, deposits up to £85,000 are protected by the FSCS. The only danger is that you might be without access to the money until it was returned to you, but it's always a good idea to have a spare current account and a credit card as backups.
  • trient
    trient Posts: 183 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    They banned me for life after I've been a customer for exactly five years (must have been some profitability calculation as I never did anything nefarious - just used it as a hub account, but it had been my main account for bills and expenses for the better part of those years). Plus I turned down a job offer with them early on which was my best career decision so far. So I'll say good riddance, even though I could never fault their service otherwise.
  • Cashmygiro
    Cashmygiro Posts: 101 Forumite
    10 Posts
    Just a London centric bank no great loss. They started opening branches when all the other high street banks were closing them and other new banks were online/app only.

    Bit like when Channel 5 started on analogue terrestrial TV.
  • wmb194
    wmb194 Posts: 4,890 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 6 October 2023 at 8:01AM
    GeoffTF said:
    wmb194 said:
    GeoffTF said:
    subjecttocontract said:
    Well if they will de-bank organisations like they did recently then what goes around comes around. Don't look for sympathy in my neck of the woods. Feeling sorry for banks is something that just doesn't ring right with me.
    It is not about feeling sorry for Metro Bank. It is about do you want fully staffed branches opening seven days a week?
    From Metro? No.
    Yes:
    My local branch (which has not been open long) seems to have more staff than customers when I have passed by.
    Hah hah. No, I'm saying I don't want it. Barely anyone does, and certainly not from Metro. It's one of the reasons why it's been struggling for so long. It's been rubbish and largely uncompetitive from day one. Add to that it apparently doesn't know how to be a good bank cf its accounting issues in 2019.
  • GeoffTF
    GeoffTF Posts: 2,012 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Outeast1000 said:
    If Metro Bank does go under would it be a matter of days . weeks . or months . I have a Bank account with Metro Bank and I am worried 
    Years probably. Provided you have under £85K with them, you should not need to worry anyway.
  • GeoffTF
    GeoffTF Posts: 2,012 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Rob5342 said:
    On the BBC news it said they are planning to open another 11 branches, they're doomed to failure if they carry on like that.
    My local branch is almost certainly rented.
  • GeoffTF
    GeoffTF Posts: 2,012 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    wmb194 said:
    GeoffTF said:
    wmb194 said:
    GeoffTF said:
    subjecttocontract said:
    Well if they will de-bank organisations like they did recently then what goes around comes around. Don't look for sympathy in my neck of the woods. Feeling sorry for banks is something that just doesn't ring right with me.
    It is not about feeling sorry for Metro Bank. It is about do you want fully staffed branches opening seven days a week?
    From Metro? No.
    Yes:
    My local branch (which has not been open long) seems to have more staff than customers when I have passed by.
    Hah hah. No, I'm saying I don't want it. Barely anyone does, and certainly not from Metro. It's one of the reasons why it's been struggling for so long. It's been rubbish and largely uncompetitive from day one. Add to that it apparently doesn't know how to be a good bank cf its accounting issues in 2019.
    Their customers disagree:
    Metro is top of the table for branch service, and near the top overall. The competition on the high street is pretty feeble and increasingly so. Whether there are enough people who are willing to pay for branch service is another matter.
  • boingy
    boingy Posts: 1,905 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Lead story in the FT today.
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