Earn interest on the money you’re holding for your clients with our Client Monies Deposit Account
Withdraw money at any time
Send and receive electronic payments, including CHAPS, Bacs, SWIFT and standing orders
| Interest rate | Minimum balance | Interest payment frequency |
|---|---|---|
|
1.10% AER* (variable) |
None | Monthly, half-yearly or annually |
*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.
There’s no set-up fee or monthly maintenance fee for this account.
We will charge for some transactions and services such as international payments, CHAPS payments and an Auditor's Certificate of Balance. You can find all the details of our transaction and service charges in the downloadable PDF below.
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:
This account is for Metro Bank Business Bank Account or Commercial Current Account customers who need to hold clients’ money in a bank account.
It’s typically used by solicitors and accountants, but certain other regulated businesses may also be able to benefit too.
If you have client funds that you need to deposit for at least 6 months, you may want to consider our Flexible Client Term Deposit Account to earn a higher interest rate.
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 Client Premium Deposit Account online or on your mobile.
Interest and funds on maturity will be paid into your nominated Metro Bank account.
Since 06 April 2016, interest on deposits 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 Client Monies Deposit Account.
Client Premium Deposit Account Details (PDF) (340KB)
Our Service Relationship with Business Customers (PDF) (1.1MB)
You can make international payments from your local store. Find your nearest store
You can also call our Business Customer Service Team on 0345 08 08 508, or +44 203 402 8312 if you’re outside the UK, and a member of the team will help you make the payment.
You’ll need to know and provide the recipient’s IBAN number (International Bank Account Number), Swift/BIC Code (Bank Identifier Code) and the payee’s bank and personal details in order to make the payment.
With Bacs payments you can move money from one bank account to another. They’re mainly used for direct debits payments. Payments can take 3 working days to clear. There is no charge to make or receive Bacs payments.
You can use SWIFT payments to transfer money between different countries. There is a £25 charge to use this service.
You can use CHAPS to make payments in the UK, in sterling, on the same day. There is a £25 charge to use this service.
Usually, the cheque will clear on the fourth working day after you pay it in. If you pay a cheque in on Monday, you can use the money on Friday. Pay it in on Tuesday and you can use the money the following Monday – and so on.
If the bank the cheque is from is using extra security measures, it will take a little longer. International cheques can take 6-8 weeks to clear.
Yes, you can go on line and check your balance, make payments, move money between your accounts, and more, 24/7.
Find out more about internet banking.
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.
The right deposit account can help you reach your goals. See our range of deposit accounts that will make your money work harder.
Choose to lock away your client funds in a fixed deposit term that suits you and earn higher interest.
Find solutions tailored to your industry. Talk to our experts who understand the challenges in your sector, from healthcare to property to financial services.
Opening a business account with us is straightforward and hassle-free especially when you're prepared.