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A Revolution in banking?
"Love your bank at last" is the first thing you read on the Metro Bank website, so we did some digging to find out whether Britain's first new bank in over 100 years is all it's cracked up to be, or just another, well... bank!
Let's cut to the chase, Metro Bank are re-writing the rulebook for how a bank should treat customers. Long gone are the days of the scary bank manager or formal local branch. Welcome to the friendly, useful staff and bring your dog in to say "hi" era.
Metro Bank opened 4 branches around London last year declaring its launch as a "revolution in banking".
If we look at the basics, they don't seem to be anything special. The 10% interest rate charged on loans is not as good as some other high street banks, nor is the rate they offer you on savings.
However, it's the simple things that make the difference. You can open an account in one of their branches - nothing revolutionary there. But they have taken out a lot of the twaddle you have to deal with in other banks. You walk into Metro bank, and walk out 15 minutes later with a new bank account, credit card, debit card and cheque book - now that's simple.
It doesn't stop there. They are open 7 days a week from early till late, and if you lose your card all you have to do is swing by a branch and they will give you a new one there and then.
Metro Bank have looked at the obvious problems with banking and addressed them. Most banks have poorly trained staff who tell you to contact a call centre based in India - Metro Bank have invested time and money in delivering clued up staff that can help - and their call centre is UK based if you ever need it!
This is what banking should be like. They're transparent, accessible and more importantly - they seem genuinely focused on offering a great service to their customers.
This site is about protecting UK consumers by exposing the scams and cons in the world of loans. So it's really nice to be able to take a moment to celebrate a success! Lloyds, Barclays, HSBC, etc. - We hope you're listening, Metro Bank are raising the bar (to where it should be) we hope you follow suit!
A revolution in banking - we agree!
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