Has anyone managed to open the 5.22% Metro Bank easy access? "..something is not quite right'

ColdIron

Egoberry said:

I managed to open one without any issues and transferred money in but the interest rate continues to show the normal variable rate (1.64%) rather than the advertised special rate if incoming fund criteria is met. Has anyone had this and did it just take a little while to update? The account T&Cs received via email could be interpreted as either rate changes as soon as you meet criteria or after 28 days after opening..

You need to meet the eligibility criteria, if you met it today you will see the rate tomorrow

• During the eligibility time period we’ll assess whether you have met the Limited Edition rate criteria, and begin paying the Limited Edition rate. When the interest is paid from can be worked out using the following table:
• Please note: If you meet the Limited Edition rate criteria on a Friday or Saturday we will only consider your closing balance on a Sunday for the purposes of eligibility and applying the Limited Edition rate.
• If there is a Bank Holiday (including before or after a weekend), we will only consider your closing balance on the last non-working day for the purposes of eligibility and the Limited Edition rate will apply from the next working day.

See the eligibility table

https://www.metrobankonline.co.uk/globalassets/documents/customer_documents/personal/instant-access_savings-account_important-information-summary.pdf

boingy

And note that there is still a bug in their app where it shows the rate as "5.1% AER" rather than "5.22% AER". It is just a bug and they are paying 5.22% AER - I just checked my first full month of interest.

Fingerbobs

boingy said:

And note that there is still a bug in their app where it shows the rate as "5.1% AER" rather than "5.22% AER". It is just a bug and they are paying 5.22% AER - I just checked my first full month of interest.

Thanks for this! I just came to ask this very question as I just opened and funded the account yesterday and noticed today the rate was showing as 5.10% AER instead of the promised 5.22% AER. I guessed that 5.10% was the gross rate and it was just a cosmetic bug so wasn't too worried, but good to have it confirmed. They should fix that really as it is potentially confusing. 

Egoberry

Thank you boingy - I can see it has now updated. Clearly too impatient!:)

Mr_Jay

boingy said:

And note that there is still a bug in their app where it shows the rate as "5.1% AER" rather than "5.22% AER". It is just a bug and they are paying 5.22% AER - I just checked my first full month of interest.

Fab - thanks for this - I just searched for this exact same query   in fact my App does indeed show '5.1% AER', and from logging in via a web browser on a Desktop, it just shows 'Interest Rate 5.1%' - so no mention of AER or Gross.

This is my first experience of being a Metro Bank customer, must say I'm less than impressed. I also had no Magic Word posted to me and had to ring up to ask where it was - they couldn't confirm if one had been posted or not.  I suspect there is an air gap in their process and no Magic Words are auto despatched unless you ring up

gritpype

Tried numerous times to do the photo id but the metro app does not state if photo is acceptable - just reverts to stating submit a different id with no explanation. I tried on different days with different browsers (chrome & edge). Even went to the bank in Manchester which is a shambles trying to register there. Trendy uniformed female said she would check if they were doing any more registrations today and disappeared upstairs. I left after 10 -15 minutes with no sign of her return to the vast lobby where many lost looking customers were sat or  milling about. Also, paid in a cheque for a friend's personal account - they have no paying in slips so you can't just leave it there in an an envelope and scoot. Personal account holders cannot pay in at post offices, either (only business accounts). Have to post cheques with account number written on the back. (The friend is 84, has a smart phone, but no way could he use it for registering). This is barmy  - only one branch - and it's right in the middle of Manchester City Centre's shopping area. Had to wait in the counter queue. Not impressed. I tried to register a week previously but when I arrived at 13:30 was told there was a queue of 8 others and would take until 5pm to be seen. The app says registering yourself takes 10 minutes! As another poster says you should be able to upload a saved photo id shot to the bank and this coupled with previous bank details should be sufficient. Meanwhile, week by week the interest rate drops.

boingy

gritpype said:

Tried numerous times to do the photo id but the metro app does not state if photo is acceptable - just reverts to stating submit a different id with no explanation. I tried on different days with different browsers (chrome & edge). Even went to the bank in Manchester which is a shambles trying to register there. Trendy uniformed female said she would check if they were doing any more registrations today and disappeared upstairs. I left after 10 -15 minutes with no sign of her return to the vast lobby where many lost looking customers were sat or  milling about. Also, paid in a cheque for a friend's personal account - they have no paying in slips so you can't just leave it there in an an envelope and scoot. Personal account holders cannot pay in at post offices, either (only business accounts). Have to post cheques with account number written on the back. (The friend is 84, has a smart phone, but no way could he use it for registering). This is barmy  - only one branch - and it's right in the middle of Manchester City Centre's shopping area. Had to wait in the counter queue. Not impressed. I tried to register a week previously but when I arrived at 13:30 was told there was a queue of 8 others and would take until 5pm to be seen. The app says registering yourself takes 10 minutes! As another poster says you should be able to upload a saved photo id shot to the bank and this coupled with previous bank details should be sufficient. Meanwhile, week by week the interest rate drops.

Don't fight it or rage against it. Just forget them and move on.

I'm happy with Metro. I've opened 3 current accounts and 2 savings accounts all in the app, all trouble-free. But if they ever try to make me go into a branch or give me any of those App hassles I'll just dump 'em.