The way the news are looking for Metro I’d be taking money out not putting money in if I was banking with them.
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The only reason I can see for opening a Metro account is the ability to use their coin counting machine. With round ups this is probably no longer needed.
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Apparently you don’t need to be a customer to use this machine, so no reason at all to be a Metro Bank customer.
Since covid, you need to be a customer to use the MMM.
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Ah ok, thanks for clarifying.
I remember watching Vernon Hill giving a talk about how he builds fans for his bank brands, and offering quirky stuff like coin counters and dog bowls with no strings attached, “you don’t even need to be a customer”, was one of his secret weapons to making a fan. Maybe in covid they realised the fan base was a bit light on the ground anyway so why give away free stuff.
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I am not 100% sure so don’t quote me but I think the decision was made to make it customer only so that they had a better idea of where cash was coming from / going to etc.
As an ex-employee I can 100% say that I don’t miss the sound of them, it was like listening to someone blend metal 
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I agree that was the case previously. I tried to use one recently and was told I had to be a customer. As I had an account with them some years ago and found them dreadful I decided it wasn’t worth reopening an account just to convert some coinage.
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Not good!
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You may rely on it
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Rely on them not making it? Monzobot aint not clear 
I think they will, but only just. And then a quite ‘exit stage left’ some time in 2024 when they get quietly acquired.
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So what I said, them not seeing the end of 2024?
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I read that as end of 2023! More coffee needed
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I don’t see what is worth buying, expensive real estate? not really. Technology, nope, as bad as it gets in lots of ways. Big customer base? nope, I think Starling have more customers.
Feels like its model is set by whats in Vernon Hill’s head as good in 2010
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Sell off customers, shut down the rest?
Well that was my thoughts (as someone who knows very little about what Metro actually do) - they seem to have been a thing around early 2012, then left in the weeds as Monzo/Starling et all accelerated at pace onwards.
Wonder what would happen in this instance. I can’t really remember what happened to Northern Rock customers etc upon dissolution, presumably they go elsewhere via the FCA/PRA/acquistion and the company goes bye bye.
EDIT: Geez, how unbelively Fin-Legacy they are - It promoted me to go and have another look and it reminded me why I discarded them as an option back in 2018. Surreal mix of legacy and fintech, the whole proposition doesn’t look like it has ever modernised and knowing this, I can see why @Sachaz says what they do.
I’m in agreement, then. Closedown 2024, with no-one buying.
from what I remember, the branches were bought by Virgin Money, and the high-risk mortgage book by a US capital management company, which has left those borrowers in a world of pain
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Yes, the old Northern Rock current accounts are still handled separately from what were Yorkshire an Clydesdale accounts.
Very sad for the mortgage customers for sure.
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I suspect this is a victim on not really grasping what a difference smart phones would have on the world. Back in 2010, was there any predictions on how much banking people would do on their phones? The idea of having branches open for longer periods, 7 days a week, definitely made a lot of sense back then to try and avoid the lunchtime scrum but now the Fintech gang have come along, transformed banking and made branches (for better or worse) a bit of a dying service.
I think, if I remember rightly, wasn’t Tescobank also going to be a full competitor in banking with people able to do ‘branch stuff’ at their local Tesco (pay money in directly at the till, have specific ‘bank areas’ in their larger Megastores to talk to a bank manager etc). That never really took off either.
I wonder if Metro might be a target for the spanish company that also owns TSB?
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They’re closing branches, so probably not.
Chase though might be.
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