A new mobile app which gives customers the ability to temporarily block and unblock their payment card using their phone has been rolled out by Metro Bank.

The challenger bank said the functionality was designed to “create instant peace of mind” and allow “valuable time” to look for misplaced cards before cancelling them.

Metro backed up the move with customer research which showed that of the UK adults who have reported their cards lost or stolen, 55 per cent found them again shortly afterwards.

Two-fifths of Brits had lost or had their cards stolen at some point, according to the survey of 2,000 people, with 36 per cent doing so more than once.

Topping the chart were 18-34 year olds, who are most likely to lose their cards more than once – with a quarter doing so three times or more, compared to just 5 per cent of those aged over 55.

Four-fifths of survey respondents had waited at least four days for a replacement card to arrive, while almost one-fifth waited over eight days. The average replacement time was six days.

However, the bank pointed out that Metro customers who had permanently mislaid their debit or credit cards could have them printed on the spot at all of its 27 branches across London and the south-east.

Craig Donaldson, chief executive officer at Metro Bank, said: “Today’s research highlights a disconnect between the needs of customers and the priorities of many banks.

“It seems completely unreasonable that customers are being forced to cancel cards if they’re unsure whether they’re truly lost, and then wait such a long time for a replacement to arrive. Banks should be able to respond adequately to their customers’ needs, and to go without a card for that long is undoubtedly frustrating for many people.”

Metro’s new banking app is available to all of its personal customers with access to iPhone, Android and Windows smartphones. Customers will also be able to view a summary of their accounts, transfer money to saved payees, pay their bills from their phone and locate their nearest branch.

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