Your current account, your way

Eligibility

You can apply for our Current Account if:

• You’re aged 18 or over
• You’re a UK resident
• You’ll have proof of your identity and address. If you’re a non-UK, EU, EEA or Swiss national, you’ll need a valid visa/residence permit. Here’s a list of what you need

If you’re wanting to open an account online, you’ll need photo ID and be able to upload a selfie. For those who aren’t a UK, EU, EEA or Swiss national, we're working on extending our system to cover biometric residence permits, but for the time being, you’ll need to come in store to open an account. We can only accept the original documents. Photocopies and handwritten passports or ID cards are not valid.

Overdrafts

We offer arranged overdrafts on request and we'll make a decision depending on your personal circumstances.

We’ll send you a free text message when you’ve gone past your arranged overdraft limit and let you know when you need to top up your account, to minimise any interest charges.

You can always opt out of these messages if you want. Simply ask us in store or give us a ring on 0345 08 08 500.

Arranged and unarranged overdrafts have a typical interest rate of 15% EAR (variable). From 25 April 2020, arranged and unarranged overdrafts will have a typical interest rate of 34% APR (variable). 

'EAR' (variable) explained 

'EAR’ stands for Effective Annual Rate. It shows what you would pay if interest were charged and added to the amount you owe once every year, instead of monthly. It doesn’t include fees for unarranged overdrafts.

‘Variable’ means we may change these rates and charges from time to time, or introduce new charges. If this means you’ll pay more, we’ll let you know beforehand. Interest is calculated daily and charged monthly. Your monthly statement will show how much interest you’ll pay and when. Charges for unarranged overdrafts or for going over your agreed overdraft will be shown separately. 

For more information on our terms and services, please see this page. 

APR (variable) explained

APR stands for Annual Percentage Rate. It shows what the interest rate would be if interest was charged and added to the amount owed once each year including any additional fees. However, we don’t charge any additional fees.

Using your debit card abroad

We don’t charge you for debit card payments and cash withdrawal in a foreign currency in most European countries. And we offer outstanding value rates in the rest of the world.

*Where can I use my card for free in Europe? 

If you make a debit card payment or a cash withdrawal in a foreign currency outside the UK, any foreign currency transaction will be converted into sterling on the day it’s paid out of your account. The exchange rate is set by MasterCard®.

MasterCard® is a registered trademark of MasterCard International Incorporated.

When you don’t have enough money in your account

If we receive a request for a payment but you don’t have the funds in your account to cover it, we will either: 

• Give or extend an unarranged overdraft and make the payment
• Refuse the payment due to lack of funds

From 18 December 2019 we stopped charging the £10 fee for each payment made and each payment refused due to lack of funds.

In any given month we’ll never charge you more than the monthly cap of £60 for charges relating to an unarranged overdraft.

If deducting interest causes you to go overdrawn or increases your overdraft, you’ll only be charged interest on the new balance.

The monthly cap on unarranged overdraft charges

1. Each current account will set a monthly maximum charge for: 

   (a) going overdrawn when you have not arranged an overdraft; or 
   (b) going over/past your arranged overdraft limit (if you have one).

2. This cap covers any: 

   (a) interest and fees for going over/past your arranged overdraft limit; 
   (b) fees for any payment made despite lack of funds (Metro Bank does not charge for these)
   (c) fees for any payment refused due to lack of funds (Metro Bank does not charge for these).

Helpful failed payment alerts

We process standing orders, Direct Debits and future dated payments in the morning. If you don't have enough funds in your account to cover a payment, we'll send you a text message to let you know so you can pay in the money. Top up your account and we’ll try to make the payment again at 2pm on the same day.

Cheques

Cheques normally take 5 working days to process. If you’d like to know how quickly you can withdraw your funds after a cheque has been paid into your account you can take a look at our cheque clearance guide.

Get all the details to read at your leisure

Download our PDF to read when you like - it contains all the ins and outs of our Current Account.

Current Account Details (PDF)(288KB)

Our Service Relationship with Personal Customers (PDF)(1.9MB)

You can bank with us online, on the phone, in store or using our app. Find out more about how to service your account using these different channels.