moneysupermarket.com - Metro Bank securing FSA authorisation

Commenting on Metro Bank securing FSA authorisation to trade as a bank, Clare Francis, site editor at moneysupermarket.com, said: "The news that Metro Bank has finally got its banking licence and will open its doors in the next few months is fantastic for consumers. Recently we've seen the number of providers in the high street fall - reducing competition and choice.  So a new competitor can only be a good thing.

"What's even more exciting about Metro Bank is that it is promising a brand new take on retail banking. At a time when our trust in banks has taken a battering a new brand, with none of the baggage, is doubly welcome. Even before we've seen any of its products, Metro Bank will have made competitors sit up and take notice: customer-friendly opening times, no "stupid" bank rules, instant issue of cash point and debit cards and so on are all a refreshing take on how banking could and should be done. We hope that it follows this through into fairly priced, easy-to-understand products with customer-friendly small print.

"If Metro Bank lives up to its word and delivers on its pledges it should be great for consumers. Even though it is only planning to open branches in London at the moment, banking customers across the UK should benefit as it raises the bar in terms of customer service, in branch facilities and products."