METROPOLITAN NATIONAL BANK OF NY: ‘BIGGEST LITTLE BANK’ LURES DEPOSITORS FROM ACROSS THE COUNTRY

NEW YORK – Ever since Metropolitan National Bank of New York opened a virtual branch on the Internet earlier this year, it has been attracting “hundreds and hundreds” of new account holders from as far west as the Hawaiian Islands, according to First VP Barry Zabell.

“Our online presence [www.metropolitannationalbank.com] has succeeded beyond our expectations and our newly revamped website has accelerated the pace of business it is generating for the bank,” he says.

Metropolitan National Bank began accepting online account applications in the first quarter of 2008 and immediately began attracting nationwide business by offering high rates on deposits and such offers as a $200 bonus for new depositors opening direct deposit checking accounts. Also attractive to depositors is the fact that the bank’s ATM card can be used at any machine in the world free of fees.

The institution initially teamed with Bankrate.com to get the word out on the Web, “which proved to be an excellent partnership that almost immediately helped us open hundreds of new accounts.” Zabell says the bank is now “sold on the Internet” as an important source of new business and is seeking to significantly expand online partnerships that drive even more business to their site.

He says that with the help of Fiserv eSolutions, the bank has made its website “intuitive and efficient, allowing users to navigate with greater ease plus enhancing it with additional financial tools and information.” The bank makes it fast and easy for individuals to open personal checking as well as a variety of interest-bearing accounts and enables them to apply for mortgages online.

A newspaper reporter once described Metropolitan National Bank as ‘the biggest little bank in the country’ and the Internet has helped them live up to that.