Metro Bank 'needs to offer competitive rates'

Fri 30 Jul 2010 - Published in Banking

If the new Metro Bank is to succeed, it must offer competitive rates and high levels of customer service, an expert has asserted.

Yesterday (July 29th), the financial services provider opened its inaugural branch in London and became the first new high street bank to have been started in the UK for more than 100 years.

The bank, which will follow its Southampton Row branch with another one on Cromwell Road in Earl's Court next week, will be open seven days a week with longer hours than its rivals.

Commenting on the new venture, MyMortgageDirect director Catherine Hearnden said that the bank has to offer something different to its rivals if it is to be a success with customers.

"The people who bother to shop around and the people who bother to change things like that are looking for a good deal. They are not bothered about the opening hours," she explained.

Ms Hearnden also claimed that the Metro Bank will have to offer "brilliant" levels of customer service as well as longer opening hours if it wants to attract customers from other financial services providers.

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