DP Pensions Ltd selects Metro Bank plc for its main SIPP bank account

We have been looking for some time to find a bank that can deliver a greater range of bespoke banking services to our SIPP clients as well as competitive interest rates and a high quality service. After much research, we have chosen to work with Metro Bank Plc.
DP Pensions has been providing pension administration services for over 25 years from its offices in Kent. We have been continually upgrading our own administration systems but have been seeking to work closely with a high street bank to provide a fully integrated banking service to our clients.
In selecting Metro Bank, we are seeking to maximise interest rate returns to our clients. The current rates that will apply to the accounts are as follows:

£0 – £50,000 0.200%
£50,000 – £500,000 0.375%
£500,000 and above 0.500%

A full range of banking products will be delivered on a one-stop basis, so eliminating the need for clients to seek more competitive banking returns elsewhere, however if any member wishes to hold another deposit account with another bank then we are happy for them to do so, but Metro Bank will be the audit trail account for the SIPP. We will have on-line access to all accounts and a full interface to our own systems and so will be able to permit clients to have immediate access to up-to-date balances and a full history of banking transactions. Each client will sign a mandate for their new account and migration will be controlled and smooth. From 5 December 2011 all new SIPPs will be set up with a Metro Bank account.
Metro Bank is the first new British bank on the high street in over 100 years. They opened their doors to the public on the July 2010. In order to launch this service they have built a dedicated team of professionals with over ten years experience of providing pension banking requirements. Metro Bank is FSA approved and complies with the FSA’s proposed new capital adequacy requirements for banks.
If you wish to discuss this further or have any other questions please do not hesitate to contact your account administrator.