Category: Banking

Current accounts with Metro Bank

As you would expect, Metro Bank’s most popular service is their current account provision. With a Metro Bank current account, you can govern your personal finances in store, online and over the phone. A current account is your personal bank account, one that you can withdraw money from whenever you need a bit of cash.

There is no monthly fee for using a Metro Bank current account and their accounts support MasterCard PayPass contactless debit card payments. You can also make free transaction in Europe. Legally, Europe consists of countries included in the SEPA, the Single Euro Payments Area. SEPA consists of the 28 EU member states, the European Free Association, San Marino and Monaco.

Switching to a Metro Bank current account

One of the reasons that many account holders avoid changing to another bank is all of the kerfuffle that surrounds the changing process. In order to entice customers to their service, Metro Bank aim to make the transfer process as simple as possible.

When transferring an account, Metro Bank move all current payments across to your new current account. This includes direct debits, standing orders, credits and income. If you are set to receive a payment to your non-Metro Bank account, it will be forwarded to your new account for a total of three years.

Metro Bank will match your existing overdraft limit (wherever possible) and can switch accounts over whenever you’d like, with transfers taking a certain number of working days. You can find out more about the transfer process by calling the Prove I Called Metro Bank Contact Number.

Metro Bank current account terms and conditions

There are a number of rules and regulations to consider when applying for a current account. You can only apply if you are aged 18 or over and you’re a United Kingdom resident. You do not pay credit interest on your current account and Metro Bank will do a credit check when you apply for a current account.

How do I apply for a Metro Bank current account?

To open a Metro Bank current account, visit your local branch of Metro Bank. You can find out more information by calling the Metro Bank contact number or by downloading the information package from the Metro Bank website.

Borrowing, credit cards and loans provided by Metro Bank

As you would expect, Metro Bank offer a number of different loans to customers across the country. There are a variety of ways to borrow, including credit cards and personal loans, in addition to account overdrafts and professional studies loans.

This short guide will detail the different methods of borrowing, explaining the terms and conditions, rates of interest and how you can apply for a loan when banking with Metro Bank. For more information about any type of loan provided by Metro Bank, you can call our Prove I Called Metro Bank Contact Number. Their customer service team can provide detailed information on each form of borrowing and provide support for customers hoping to apply.

Credit cards offered by Metro Bank

If you choose to apply for a Metro Bank credit card, you will receive a MasterCard PayPass card. This means it is accepted anywhere that shows the MasterCard logo, it also means you will be able to use your card for contactless payments.

There is no annual fee when using a Metro Bank credit card and transactions are free in any country in the SEPA. Statements are sent on a monthly basis. To apply for a credit card, you must be aged 18 or over and be a UK resident. You will also need a Metro Bank current account and you will be subject to a credit check.

Metro Bank’s current APR for credit cards is 13%. You must pay 5% of your balance or £20 each month, whichever number is larger. If your money owed balance is lower than £20, you pay off the balance. To apply for a credit card, visit your local branch of Metro Bank.

Overdraft payments and Metro Bank

An overdraft is an agreed on borrowing limit that allows you to withdraw money or make a payment from your current account when you have no funds in it. To set up an overdraft for your account, visit a branch of Metro Bank.

There are interest payments on instant overdrafts and agreed overdrafts. Interest is 15% Effective Annual Rate, with interest calculated daily and applied monthly. Metro Bank reserve the right to change their rates and charges.

Personal loans from Metro Bank

The personal loans offered by Metro Bank are sold with a representative 7.9% APR. The minimum loan is £2000 and maximum is £25,000. Repayment terms can be over the course of one to five years. To purchase a loan, head to a branch of Metro Bank.

Savings accounts and ISAs with Metro Bank

There are a number of different savings account to choose from should you choose to run your banking through Metro Bank. These include Instant Access Savings, Fixed Term Savings, Instant Access Cash ISAs, Fixed Rate Cash ISAs and Young Savers account.

Each account suits different needs, with a number of rules and regulations that govern the transfer of payments made into each account.

This short post will detail the difference between Instant Access, Fixed Term, ISAs and Young Savers accounts, in an attempt to make the complicated world of banking your savings a little simpler. For further information about applying for a savings account with Metro Bank, call the Prove I Called Metro Bank Contact Number.

Instant Access Metro Bank accounts

Instant Access Savings

An Instant Access Savings account gives you access to your money should you need to transfer or withdraw it. The interest for this account is 0.75% AER. Interest is paid after the basic rate of income tax is applied to your account, the rate is currently 20%.

Instant Access Cash ISA

Like the above savings account, you are able to withdraw money from this account. You are only able to subscribe to one cash ISA during a tax year and there is a limit on the amount you can pay into your ISA. This limit is not affected by withdrawals. The current limit is £15,240. ISA interest is free from income and capital gains tax. The current Metro Bank rate of interest is 1.25% AER.

Fixed Rate Metro Bank accounts

Fixed Term Savings

A fixed term account ties up your deposit for an agreed amount of time, either 3 months, 6 months, 12 months, 18 months or 3 years. During this time, you will receive a fixed amount of interest, the rate will not change during your term.

The rate of interest you receive is based on the length of the term you choose, with higher rates available to customers that tie their funds up for a longer period of time.

Fixed Rate Cash ISA

A fixed rate ISA works as a savings account does, though you will not pay any income tax on your savings. The maximum amount you can place in a cash ISA is £15,240. The deposit you place in the ISA is made as one lump sum.

Young Savers Metro Bank accounts

This is a savers account for your children, with different options based on the age of your children, the differences are between 10 and under and 11-21. There are a number of different regulations that affect payments made to children’s bank accounts, you can find out more by calling Metro Bank.

Business accounts provided by Metro Bank

For businesses hoping to open an account, Metro Bank have you covered. A business account with Metro Bank includes a series of benefits, such as a company credit card, loans for businesses and investment services. This short post covers the account, card and loans offered by Metro Bank.

For further information on the forms of commercial banking and investment plans offered by Metro Bank, call the Prove I Called Metro Bank Contact Number. Their customer service team will be able to explain the areas not covered by this guide. They can also assist with any issue you may have had with your business account, or offer advice on setting up a Metro Bank business account.

Metro Bank business bank accounts

If your business’ turnover does not exceed £2 million, you may be able to open a business account with Metro Bank. The account is designed for start-ups and established companies alike, with 24 hour telephone banking as standard.

You will also be able to make use of Metro Bank’s 8am to 8pm, 7 days a week branch opening times and Local Business Manager, specifically assigned as part of your account contract. The account opening process is fast, with cheque books and cards printed as you wait in the branch.

If you hold a Metro Bank business account, you must pay a monthly maintenance fee, transaction charges and service charges. Metro Bank provide free internet banking, with a monthly subscription to their premium banking service, Business Online Plus, available to account holders.

Company credit cards from Metro Bank

When making payments for items your business needs or paying for the meal that will wow those important clients, a company credit card can be used to easily keep your finances in check. Metro Bank offer a company credit card with 13% APR interest and 60 days interest free if all your debts are paid in time.

The minimum monthly payment towards your account is either 5% of your owed balance or £20, whichever number is higher. You need a Metro Bank business account to apply for a company credit card.

Small and large business loans from Metro Bank

Metro Bank offer two forms of business loan. Small business loans range from £2000 to £25,000, with a fixed interest rate and variety of terms available for your business. Repayments are made on a monthly basis, with a typical 10% APR.

Business loans, unlike small business loans, allow you to borrow over £25,000. There are a wide range of options available to suit various situations. You can select the length of repayment, varying from 12 months to 15 years, and can choose between fixed and variable rates, based on the length of repayment you select.

All applications for accounts, loans and credit cards are handled in-house by Metro Bank; you will need to visit a branch to apply.

Wonga – loan applications

Loan eligibility

There are various short-term loan amounts available via Wonga, all of which are said to be flexible. Eligibility for a Wonga loan is largely determined by a customer's ability to meet repayments. Credit checks also influence whether or not you will be granted your loan. Just because you may have been granted a previous Wonga loan, another loan isn't always guaranteed.

Stringent eligibility criteria is in place including:

Age - applicants must be 18+ years old

Credit checks - applicants must hold a satisfactory credit history with Callcredit Ltd/Experian Ltd (these are Wonga's main points of credit reference).

Existing debt - a Wonga loan should not as they suggest be taken out to manage current debt.

Application process

Online calculator

Wonga's website has two handy sliders which will help you calculate loan amount and repayments. Simply set one slider to indicate how much you would like to borrow and the other slider to how long you wish to borrow it for. Thankfully the Wonga calculator will do all the maths for you and give a repayment amount including interest.

There are two options to choose from including:

An instalment loan = as the name suggests this allows repayments made in instalments over 3 months.

A short-term loan = this is a flexible option and is ideal for unexpected expenses.

Selecting your loan depends on your individual circumstances.

Personal info required

Applying for your Wonga loan is pretty straightforward and can be carried out online. There is information you can have ready prior to beginning your application which will speed the process.

You will need:

· Your basic personal information i.e. full name, contact details, work status and number of dependents etc.

· Your average outgoings including: mortgage/rent, credit commitments, utility bills, transport, food and other general monthly expenses.

Please note that if you are unsure of any of the questions, a member of the Wonga team is just a call away. Lines are open 24-hours a day, 7-days a week.

Once your application is completed you should receive a decision about your loan via email within a matter of 3 working days.

Wonga – making a complaint

Reasons to complain to Wonga

Despite having tightened their approach to lending in recent years, Wonga occasionally still get things wrong. Poor customer service and payment quibbles are just two of the common reasons people have for calling to complain. Thankfully, one call to Wonga should put you in contact with an advisor able to address your issue - fast.

Ways to complain to Wonga

Wonga suggest that they always do everything in their power to resolve customer grievances. To air your complaint you can choose to call, write or email using the following contact details.

By phone:

Wonga customer service phone lines are open 24-hours a day, 7-days a week, 365-days a year - ensuring there is always somebody there to take your call.

By email:

Complaints can also be emailed to customercomplaints@wonga.com

Including the following information may significantly speed the complaints process:

· Your full name

· The email address associated with your Wonga account

· Full details of the complaint including any supporting documentation

· Suggestions of how Wonga could possibly put things right

By post:

Prefer to write to Wonga? Please send any written complaints to:

The Complaints Manager

Wonga.com

Sheffield

S95 1AR

The next step

If you choose to complain via post or email you can expect a response within 5 working days. Wonga suggest that they always try and reach a solution as quickly as possible. The whole process typically takes no longer than 8 weeks and you should receive regular updates along the way.

Still not happy?

You may feel that a Financial Ombudsman is required at this stage. If so, please contact:

The Financial Ombudsman Service

Exchange Tower

Harbour Exchange Square

London

E14 9SR

Email: complaint.info@financial-ombudsman.org.uk

Please note that you can also find out more at www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm

Alternative ways to complain

If dissatisfied after the initial Wonga complaints stage you can then choose to contact the Finance and Leasing Association (FLA).

The contact details required are:

The Compliance Manager

Finance & Leasing Association

Imperial House

15-19 Kingsway

London

WC2B 6UN

Email: code@fla.org.uk

Please note that complaints forms are available online via www.financeleasingassociation.co.uk/index.php/consumer-information/how-to-make-a-complaint2/.

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Wonga – repayment problems

Experiencing payment problems

Despite planning for every eventuality, there are sometimes unexpected expenses which mean you can’t meet your Wonga repayments. Such circumstances are best addressed by speaking directly to a member of Wonga’s customer services team.

Can’t pay your Wonga loan on time?

If you are experiencing problems in meeting your payment dates there are options available. To make life easier we have listed a quick step-by-step process of what to do.

Step 1. Call Wonga customer services – lines are open 24-hours a day, 7-days a week, 365-days a year.

Step 2. You will be asked to complete an income and expenditure form (this stage can be completed online).

Step 3. Wonga may be able to create a payment plan for you. Establishing a repayment plan can mean that interest is frozen.

Late payments

Not meeting your Wonga repayment dates on time can result in extra costs.

Typical fees are:

At least £15 will be charged by 11pm on the third day after your due payment day. Continued interest will also be added for up to 30 days after your repayment day. Reassuringly, you should never have to pay more than double your original loan amount.

Please note that you can access payment set-up details via your online Wonga account at www.wonga.com

Debt Advice

Struggling with debt can be a frightening experience but with the right guidance it needn’t be. If you require specialist advice on how to manage your debt why not visit:

Step Change Debt Charity - more information can be found online at www.stepchange.org or by calling their dedicated team. Lines are available from 8am until 8pm on a Monday to Friday and from 8am until 4pm on a Saturday.

You may also like to try:

The National Debtline – further info is available at www.nationaldebtline.co.uk and you can call from 9am until 9pm on a Monday to Friday and from 9.30am until 1pm on a Saturday.

Or

The Citizens Advice Bureau – find out more via www.adviceguide.org.uk, alternatively pop into your local branch (please note that times may vary).

Want to check your credit rating?

This is a useful way in which to ascertain how your credit score may have been effected by missed or late loan payments. To have a look click onto one of the following:

· www.callcreditcheck.com

· www.annualcreditreport.co.uk

· www.equifax.co.uk

· www.creditexpert.co.uk

Managing your Wonga account

Wonga account services

From setting up loan repayments and changing your bank details to updating personal information and changing account passwords, there are many advantages to having a Wonga online account in place. Of course, if you can’t find the services you are looking for, why not call the Wonga customer services team? Lines are open 24-hours a day, 7-days a week, 365-days a year.

Your ‘how to’ guide

To make life a little easier we have created a ‘how to’ guide addressing some of the most commonly asked about questions.

Q. How do I change my bank account details?

A. Please note that you will only be able to update bank details if your do not owe Wonga any money. To make changes simply click onto the ‘Payment’ section of your online Wonga account.

Q. I want to change my password, what do I do?

A. This can be easily done via the, ‘Contact Details’ section of your online account.

Q. My employment details have changed, can I update them?

A. Simply log onto your account and head for the, ‘Personal Details’ section.

Q. Is it possible to view my loan history?

A. Unfortunately, your loan history can’t currently be accesses via your Wonga account, however this is a service which may be available in the future.

Q. How long will my PIN number take to arrive?

A. Busy periods may mean that PIN numbers can take longer than anticipated to arrive but be patient, it will reach you – by text. If you feel that no PIN has been sent, another PIN can be easily requested by clicking, ‘resend PIN’ online.

Having difficulty using the online account service?

If you are having trouble managing your online Wonga account or you simply want to raise an enquiry please call the Wonga customer services team. With account lines open from 8am until 6pm on a Monday to Saturday, there is plenty of time to speak with a dedicated Wonga representative. General customer service lines are available 24-hours a day, 7-days a week, all year round for your convenience.

Using Apple Pay with TSB

All of the credit cards TSB offer can be used to earn cashback on transactions with Apple Pay. You will begin earning cashback immediately and it will be paid to you on the 15th day of each month.

For any qualifying spend in November and December, you will get your first payment in January and monthly from then on. The cashback will usually appear on the next month’s statement unless you have your statement processed beforehand.

You can only earn cashback on Apple Pay transactions, whether in or out-of-app, on 5% of the first £100 of Apple Pay that are made on TSB Amex or MasterCard Credit card every month. Therefore, the maximum you can earn is £5 per month for each of your TSB cards and you will not be taxed.

You can’t keep track of the cashback you have built up in your wallet but you are able to see the last ten Apple Pay transactions.

The below credit cards are eligible:

· Avios (MasterCards)

· Avios (Amex)

· Premier Avios (MasterCards)

· Premier Avios (Amex)

· Advance (MasterCard)

· Classic (MasterCard)

· Gold (MasterCard)

· Platinum (MasterCard)

· Student (MasterCard)

· Trust Card (MasterCard)

Any additional cardholders will not be able to register their card for Apple Pay so are not able to earn the cashback from purchases on their card. If you do have multiple cards and users, it’s advisable to set up a default card for the card that’s used the most in order to benefit from the cashback scheme the most. The default card for all transactions will automatically be the one you used to set up your Wallet app, though if you wish to make your TSB account the main card you can do so by finding ‘default card’ in the ‘transaction defaults’ of your Wallet and Apple Pay settings.

Opening a bank account with TSB

There a wide range of bank accounts on offer with TSB, including youth, student, graduate and under 19s accounts, as well as classic, classic plus, platinum and silver current accounts.

To open a bank account with them, the bank will need to verify your address and identity while you are in the branch. In order to do so, you will need to take two official and original documents along with you to fulfil each purpose. The bank will not accept any documents printed, scanned or photocopied as they are not original.

Despite IDs such as driving licences displaying both addresses and identity, you must take two documents along with you to provide proof of both.

Below are a list of things you can use, provided by the TSB website:

For proof of identity:

UK/EEA/EU passport

UK/EEA/EU photocard driving licence

EU/EEA National identity card

Northern Ireland voters card/Electoral Identity Card

Firearms or shotgun licence

UK Benefits/state pension notification letter - issued in last 12 months

Blue disabled drivers pass

All other current signed passports with valid UK Visa

For under 18's:

Young Scot card

National Insurance card or letter

UK birth certificate

Medical Card/Certificate

If aged between 11 and 15 a parent/guardian must be present and must bring proof of identity along with them, too

Over 16s do not need to have a parent/guardian but will need proof of identity and address

Proof of address:

UK/EEA/EU photocard driving licence (Only if not used as proof of identity)

Bank, building or credit union statement (Showing minimum 2 transactions from last 3 months)

Utility bill/utility statement (except water bill or mobile phone bill) dated within the last 3 months

Local authority tax bill/council tax bill for current year

UK Benefits or pensions notification letter confirming the right to benefit (only if not used as proof of identity) - issued within last 12 months

Allocation of National Insurance Number from Job Centre Plus letter dated within the last 3 months

For students:

UCAS confirmation letter, or (cannot be accepted as proof of address)

A letter from the university or college confirming the place

Proof of identity and address (outlined above)