Metro Bank Reviews, Features, Pros & Cons

Metro Bank

As a retail bank headquartered in the UK, Metro Bank is renowned for its customer-focused philosophy and dedication to offering valuable banking services with a personal touch.

The innovative and energetic Metro Bank has significantly impacted the retail banking industry in the UK. Since its founding in 2010, Metro Bank has transformed conventional banking by emphasizing superb consumer convenience and service.

Overview of Metro Bank

Metro Bank has redefined the banking experience with its distinctive “stores” rather than branches, open seven days a week and providing various services tailored to its client’s needs.

In 2010, the “challenger” bank Metro Bank opened for business. It has physical locations, unlike challenger banks like Monzo or Starling. Since more than a century has passed, the UK has not yet opened a new central street bank.

The current accounts offered by the company are straightforward and uncomplicated, with no additional costs or fees.

Metro Bank’s customer-centered philosophy is one of its distinguishing qualities. With extended hours than most other banks and a concentration on in-branch client assistance, it seeks to offer a high level of convenience and customer care. Safe deposit boxes, coin counters, and free Wi-Fi are among the services that Metro Bank locations provide. They are open seven days a week from early until late.

What Are the Unique Features of Metro Bank?

Metro Bank is a British retail bank that was founded in 2010. It is renowned for being the first brand-new high-street bank to open in the UK in more than 150 years. The following are some crucial details you should know about the Metro Bank:

• Vernon Hill, an American banking entrepreneur, launched Metro Bank to develop a client-focused community.
• Branch Network: Customers can access in-person banking services from Metro Bank’s network of physical branches. They place a strong emphasis on the needs of the consumer and strive to provide a more individualized and practical banking experience.
• Added Hours: Metro Bank locations are open more frequently on weekends and federal holidays. As a result, consumers have more flexibility and convenience to access banking services outside of regular business hours.
• Current Accounts: Metro Bank provides a selection of current accounts to satisfy a range of customer requirements. Debit cards, mobile and online banking, and overdraft capabilities are just a few advantages of these accounts.
• Savings Account: Opening a savings account with Metro Bank will allow customers to earn interest on their money. These accounts could provide various options and interest rates to accommodate multiple savings objectives.
• Mortgages and loans: Metro Bank offers a selection of mortgage and loan solutions to individuals and businesses. This covers credit lines for personal use, mortgages for new or existing homes, and loans for expanding companies.
• Credit Cards: Metro Bank provides credit cards that come with a variety of features and incentive schemes. Customers can use these cards for regular purchases and manage their credit card accounts online or through a mobile app.
• Online & Mobile Transactions: Customers may monitor their accounts, make transfers, pay bills, and carry out other financial tasks from a distance, thanks to Metro Bank’s online and mobile banking services. These platforms provide accessibility and convenience.
• Excellent customer service is a priority at Metro Bank, and the company strives to give each customer a more tailored banking experience. Customer service agents can help with various banking requirements at their branches.
• Metro Bank offers contactless payments through its debit and credit cards, enabling customers to complete rapid and safe transactions.
• Business Banking: Metro Bank provides various solutions for cash management and current business accounts, loans, and credit cards. Regarding their financial requirements, they want to assist small and medium-sized firms.

Why Choose Metro Bank?

The features listed above are a good reason you should try Metro Bank. You can also check out the following reasons:

• For the eighth consecutive year, Metro Bank ranked first in the Competition and Market Authority’s (CMA) most recent Service Quality Survey for its overall service to clients with current personal accounts.
• The high street bank receives the most outstanding ratings for both personal and commercial customers’ overall satisfaction.
• It is also the best-rated bank for both personal and commercial customers’ satisfaction with service at its retail locations and business centers.
• The second-best option for business customers in terms of online and mobile banking services

 Account Opening Process with Metro Bank

Online or in-store account opening are both options. You will require the following:

• To be at least eleven. If you’re between 11 and 15, you must go to a branch with your parent or legal guardian to open the account.
• To live in the UK.
• To possess Swiss, EU, or UK citizenship.
• Have identification on hand.
• Have valid address proof.
• You must take a selfie while signing up online to confirm your identity.
• It will take a few days for your card to arrive through the mail unless you sign up in-store, in which case they can print it immediately. If you open an account in the branch, no appointment is necessary.

How can I locate my Metro Bank sort code?

How to determine your Metro Bank sort code includes the following methods:

The sort codes for some of the largest UK banks are mentioned on this website.

• Banking online: Logging into your online banking or bank app will allow you to obtain your account number and sort code.
• Depending on the bank, the sort code and account number are frequently printed on bank cards on the front or reverse.
• From a bank’s statement of accounts or deposit slip
• You should always verify the sort code—including the digits on this page—with your bank or your recipient to ensure that the bank can process your payment efficiently and securely.

What charges apply to the maintenance of a Metro Bank business account?

When choosing where to open a business bank account, fees are almost always crucial. The costs you’ll pay if you select Bank Metro depend on your balance.

You will be charged a £6 account fee monthly if your balance falls below £6,000. This fee is waived if your balance remains higher than £6,000 for the entire month.

Enjoy 30 free monthly transactions if your account balance exceeds £6,000. Once these 30 transactions are finished, or when your balance falls below £6,000, you will be charged 30p for each of the following transactions:

• the use of ATMs
• debit card purchases
• credit automation
• Cheque payments or deposits
• payment of bills
• ACH transfers

The following fees apply to a Metro Bank business account, regardless of your balance.

• 0.70% of any cash transaction (whether deposited into your account or withheld from you in person).
• Any international SEPA payment will cost 20p, while international SWIFT payments will cost £25

What Users of Metro Bank Says about Them

Regarding client reviews, Metro Bank performs marginally better than most larger-scale UK banks. Metro Bank received a score of 2.5 out of 5 on TrustPilot, which is based on just over 4,000 reviews.

It’s unlikely that Metro Bank will promote that score because it’s still classified as Poor, but it’s still much better than what NatWest, HSBC, RBS, or Virgin Money have managed to achieve. Most Metro Bank evaluations are either five stars or one star, which leaves little space for nuance and is appropriate for a score that falls squarely in the middle.

As always, we urge you to read the reviews and comments assigned to Metro Bank. Remember that almost all of these comments have been made by personal banking customers, not business users, and then decide if they are sufficient to dissuade you from opening a Metro Bank account or alleviate any worries you may be harboring.

How Can You Contact Metro Bank?

You can call one of the lines listed below to get in touch with our UK contact center if you have any questions about our stores, accounts, or services.

• Contact personal customers at 0345 08 08 500.
• Callers from businesses should dial 0345 08 08 508.
• From another country calling the UK? Use 0044 20 3402 8312

Frequently Asked Questions

How effective is the Metro bank app and online banking?

The app is uncomplicated and straightforward to use. As of this writing, users have given it a 4.8 rating on the App Store and a 4.6 rating on Google Play.

Despite this, it is straightforward compared to competitors like Monzo or Starling. It lacks features like savings pots, for instance. To offer you a primary picture of what and how you are spending, use the “insights” feature. The Metro Bank app also allows you to link other accounts to see more of your financial life at a glance.

What exactly is a sort code?

Sort codes ensure that payments sent to UK bank accounts reach their intended recipients quickly and accurately. The sort code of the local UK account to which you are transferring a fee must be provided for your bank to complete the transfer.

Does Metro Bank offer commercial banking services?

Yes, Metro Bank is open to business banking clients on the main street and online. You may manage your Metro Bank business account in person or online using the website or an Apple or Android app.

The Metro Bank app allows you to use bookkeeping software, and the bank is giving you a 25% discount on a Clearbooks subscription. Alternatively, your Metro Bank account can be connected to Xero, but you will be responsible for paying for and maintaining this subscription.

What disadvantages come with opening a Metro Bank business account?

In the UK, Metro Bank has just 76 locations, 74 of which are in England. The two branches in Wales are both in Cardiff, while Metro Bank has no locations in Scotland or Northern Ireland. There will be no option for in-person transactions, but you can still bank online and call customer service for assistance.

Business customers of Metro Bank are subject to a variety of microtransaction fees. If your balance exceeds £6,000 for the entire month, they are decreased, but they can still start to build up. These can begin to mount up if you intend to use a business debit card regularly or if you have a variety of deposits and payments coming into and going out of your account.

Conclusion

Located in the UK, Metro Bank is a retail bank renowned for its client-centered philosophy and dedication to offering valuable banking services with a personal touch.

The creative and vibrant retail bank Metro Bank has significantly impacted the UK banking industry. Metro Bank transformed conventional banking by emphasizing great client convenience and service from the moment it was founded in 2010. Metro Bank has redefined the banking experience by offering various services tailored to its customers through its distinctive “stores” rather than branches open seven days a week.