The New Metro Bank won’t be fighting back a stampede of customers from first glance of the products they are offering.
Aside from hailing itself as the start of the banking revolution, the British bank will have to improve its offerings to the community to build a worthwhile base. The bank plans to be open 7 days a week and hold later hours than most banks.
David Black of Defaqto says: “It doesn’t look like they’ll be troubling the best buy tables and they aren’t offering any introductory deals. But products look straightforward and are what they say on the ten.”
Although there are some products which are competitive. The credit cards at 13 per cent compared to the average 18.5 per cent is very good. Unsecured loans at 10 per cent also stands out nicely.
Metro probably won’t revolutionize the banking industry, but as long as it stands behind its word, it will end up being a bank of trust.