Metro Bank opens its one millionth account as the profit-making lender hails a "banking revolution"

 
Oliver Gill
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A New High Street Bank Is Launched In Holborn
Metro Bank opened its first branch in Holborn in July 2010 (Source: Getty)

As Metro Bank approaches its seventh birthday, the lender today celebrated the opening of its one millionth account.

The challenger said it has given away nearly 3.9m lollipops since 2010. Yes, that's almost four lollipops for every account it has opened, which seems quite a coup given the incentives Metro's rivals use to entice people to them.

And Metro's great giveaway doesn't end there.

Since launching its first store (branch) in Holborn it has also handed out some 12.5 tonnes of dog treats to fans (customers) who have brought their pooches into Metro's pet-friendly outlets.

Meanwhile, Metro's "Magic Money Machines" (which count coins) have totted up some £99m and, the bank reckons, saved people £9.8m in fees in the process. Some observers might point out such fees could have otherwise been pocketed by Metro Bank instead.

Milestone

Craig Donaldson, Metro Bank's chief executive said today was a "real milestone" in what the lender called a "banking revolution".

Despite all this generosity, Metro reported its first ever annual profit in April. Metro, which opens until 8pm on weekdays and serves customers (fans) seven days a week, reckons it is open 75 per cent longer than its rivals.

Its policies don't help Royal Mail though. Instead of posting bank cards out to its customers, it prints them in store. This, Metro said, has saved customers 4m days waiting for cards in the post.

Donaldson added: "We’re proving that UK banking is ripe for disruption and showing just what can be done with the right model and culture."

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