New banks on the block

There are two new high street banks floating about at the moment. They both want your attention, and they both want your cash. Those banks are Virgin Money and Metro Bank.

It’s a really interesting situation that banking hasn’t seen before – the public doesn’t know anything about either bank and that means there are no customer services records to see, no branches to visit, no stats, nothing. So the only ways to get you hooked are with their accounts. And with their branding.

Here’s some bits from Metro Bank’s boastful ‘about us’ page.

‘With our unique, customer-focused retail business we reinvent the rules of retail banking, making every effort to remove all stupid bank rules from our day to day services to offer simpler and more convenient banking to you.’ ‘We aim to exceed the expectations of our customers every day.’

And here’s some bits Virgin Money’s calm, honest ‘find out more’ page.

‘We’ve made no secret of our ambition to build a new kind of bank in the UK, one that makes everyone better off – customers, staff, shareholders, partners and the communities we serve.’ ‘We’re here to build a bank that’s fair, transparent and honest – bringing a fresh face and some much-needed competition to the high street.’

Which will do better? For me, calm and honest definitely beats boastful when it comes to keep my cash safe and sound, so my money’s on Virgin.