Whether you’re wanting to expand your business and need to save capital or are putting money aside for a rainy day, our Business Instant Access Deposit account can have you saving without taking your money out of reach. Earn interest while still having full control over your money
Open an account and deposit at least £1000 within 28 days to earn a Limited Edition Rate (variable) for 12 months. If you don't do this, you’ll receive our Standard Variable Rate of 1.20% AER* Gross (variable).
You have full control over your money and can access it when you need it
You won’t pay a monthly fee, there are no set-up costs and no minimum deposits
Interest rate | Minimum balance | Interest paid |
---|---|---|
Limited Edition rate of 4.00% AER*/ Gross (variable) |
Minimum balance of £1000 within 28 days |
Monthly or annually |
Standard Variable Rate of 1.20% AER* / Gross (variable) |
£1 |
Monthly or annually |
From 10 November 2023 you can earn a Limited Edition rate of 4.00% AER* /Gross (variable) for 12 months if a minimum account balance of £1000 is reached within 28 calendar days of account opening.*
Limited Edition rates are promotional rates which are subject to availability and can be withdrawn from sale at any time. The interest on these rates is higher than our Standard Variable rate.
During the 12-month period the rate can vary meaning it can go up or down, but it will not go below the Standard Variable rate that is available at that time.
Your account will earn Standard Variable rate interest until you meet the Limited Edition rate criteria.
For more information about Limited Edition rates please see the Important Information Sheet and the Frequently Asked Questions below.
*AER stands for annual equivalent rate. It shows what the interest rate would be if interest was paid and compounded once each year.
Variable means we may change these rates and charges from time to time, or introduce new charges. If this means you’ll earn less interest, we’ll let you know beforehand.
For more information regarding your FSCS protection, please see the FSCS Information Sheet and Exclusion List.
There are no fees for this account, but we do charge for some of our banking services.
Service | Charge |
---|---|
Issuing a banker’s cheque | £15 per item |
Stopping a banker’s cheque | £10 per item |
Copy or duplicate statements | £5 per statement |
Bringing in the right documents can smooth out the account opening process.
Everyone involved in opening the business account will need to provide proof of identity and proof of address, including:
A valid passport, EU national ID card or UK driving licence is ideal, and may be all we need.
Photographic ID
We can only accept original documents, not photocopies.
Valid Passport/EU national ID Card means in date, undamaged and machine readable. Unfortunately, we can’t accept handwritten passports or ID cards.
Non-photographic ID
If you’re providing non-photographic ID, you’ll need to bring 2 proofs of address. We can only accept original documents, not photocopies.
Valid passport with your current visa (with at least 6 months left on it) or a Biometric Residence Permit.
Must have your name and current address on it. We only accept originals. It’s handy to have 2 of these with you, just in case.
If you are a sole trader you will need to provide one of the following documents:
The document provided must have the name of the business owner on it, the business address and the trading name (if applicable).
If you are a sole trader and you can’t provide any of these documents, a site visit can be arranged if your business address is different to your residential address.
Partnerships, including limited partnerships, will need to provide one of the following documents:
The document provided must have the partner's names on it, the business address and the trading name (if applicable)
If you are a partnership and you can’t provide any of these documents, a site visit can be arranged if your business address is different to your residential address.
If you’re a limited liability partnership we will, with your permission, carry out a credit reference agency search. If the results are satisfactory, you won’t need to provide any further documents. Otherwise you will need:
If you’re a Limited Company we will, with your agreement, carry out a credit reference agency search. If the results are satisfactory you won’t need to provide any further documents. Otherwise you will need:
To open a Business Instant Access Deposit account, you need:
We believe in letting you decide how you want to bank with us – whether that’s online, in store, over the phone, through your Relationship Manager or on the move with our app.
Manage your Business Instant Access Deposit Account online or on your mobile.
Since 06 April 2016, interest on savings has been paid without tax being deducted. For more information, please contact the Business team on 0345 08 08 508.
Download our PDF to read when you like - it contains all the ins and outs of our Business Instant Access Deposit Account
Business Instant Access Deposit Account Details (PDF) (43KB)
Our Service Relationship with Business Customers (PDF) (1.1MB)
No – unfortunately the switching service is only for Current Accounts. You would need to make a payment to transfer a balance to your new Business Instant Access Deposit Account.
Yes – you can go online and check your balance, move money between your personal and business accounts, and more, 24/7.
You can find the rates for any account that is not listed on the current rates page set out in Rates for Closed Business Products.
Yes! Our Limited Edition rates can be opened by new customers or existing customers. All our existing customers have to do is open a new account and deposit the minimum balance within 28 days.
The Limited Edition rate will be applicable to your account for 12 months, but is variable, meaning that within the 12-month period the Limited Edition rate can go up or down, but it will not go below the Standard Variable rate that is available at that time.
Customers can see the interest rate being paid on their account at any time on their Mobile App or via Online Banking.
If you meet the criteria for the Limited Edition rate, this interest rate will be applied to your account from the next working day. Until that point your account will earn the Standard Variable rate. You can see your current interest rate at any point on mobile or online banking.
During the eligibility time period we’ll assess whether you have met the Limited Edition rate criteria, and begin paying the Limited Edition rate. When the interest is paid from can be worked out using the following table:
Your closing balance on a |
Limited edition rate applies from the following |
Monday |
Tuesday |
Tuesday |
Wednesday |
Wednesday |
Thursday |
Thursday |
Friday |
Sunday |
Monday |
Please note:
If you meet the Limited Edition rate criteria on a Friday or Saturday we will only consider your closing balance on a Sunday for the purposes of eligibility and applying the Limited Edition rate.
If there is a Bank Holiday (including before or after a weekend), we will only consider your closing balance on the last non-working day for the purposes of eligibility and the Limited Edition rate will apply from the next working day.
You can make withdrawals during the eligibility period, if at the point of assessment for an Limited Edition rate the balance is lower that the minimum required you have the option to top up while the eligibility period is still open.
Check balances, make payments, see transactions and open new accounts any time - all with Business Online Banking.
Control your money on the move. Check balances, move money, make payments and more with our handy mobile app.
A friendly face and a quick answer - and all the usual payment services too.
Talk to a real person in our UK contact centre. Click the button below to check when we're available.
With our Fixed Term Deposit Account you can decide how long you want to lock your money away for and with our fixed interest rate you'll know exactly what you'll earn.
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Start-up or growing business? Take your company to the next level with speedy account opening and Local Business Managers in every store.
Your eligible deposits with Metro Bank are protected by the FSCS.