current accounts could switch to a new high street provider this month, following the establishment of a new bank.
Metro Bank, the first new high street bank in more than a century, has opened its doors to new customers with the emphasis placed firmly on service.
Although it doesn't offer the lowest rates on the market, the bank hopes to get new customers into its first branch in Holborn by addressing the frustrations that many have with banking.
Firstly, it boasts extended opening hours - from 8am to 8pm Mondays to Fridays, 8am to 6pm on Saturdays and 11am to 4pm on Sunday - making it easier for consumers to access their accounts and pay bills outside of normal working hours.
What's more, Metro Bank will be open every day of the year apart from four; Good Friday, Easter Sunday, Christmas Day and New Year's Day.
The inside of the branch has also been designed specifically to engender a friendlier atmosphere - with no visible security screens and a range of pleasantries such as dog biscuits for pets (welcome inside) and lollies for youngsters.
In this way, Metro Bank believes it can tap into the market of those consumers who are frustrated with their existing banks and would consider switching Current account providers, a segment which research shows could be as large as three million.
Speaking to BBC News, Vernon Hill, one of the co-founders of the bank, said that a similar policy has proved to be successful in the US.
"Britons are dying for revolution in the banking business, focused on service, and we are here to provide it," he said.
However, some industry analysts have suggested that the bank's rates on mortgages and savings products will not be attractive enough to win over customers from rival providers.
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