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Colin Ng

Metrobank hire comes under question from regulators

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Luuk Jacobs

@Andy MilnerI think in the case of Revolute it is more growing pains than anything else. In the end they are for the moment only prepaid master card with new ways of paying (from own experience it is great when travelling and having to pay someone new while abroad, clearly Monzo is the other one in this space) and not yet a full bank (although I believe they recently have been granted a UK banking license.

 

I would say Metro is more of a culture and governance issue and believe the regulator should absolutely be tough on them. They have been in business for long enough (in the UK for 10 years) to know better. I fully agree with @Eva Keogan that Metro has brought back some good business banking with easy access and great customer service. On the personal banking side they definitely are not in there with the new kids on the block but still are catering well to a clientele that is more used to the personal contact instead of the smart phone. Not withstanding their added value to the client, they are not immune of the regulators arm and rule and therefore should quickly get them to the right regulatory playing field.

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