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Business bank account

YOUR BUSINESS ISN’T 9 TO 5, SO NEITHER ARE WE

We believe in giving our customers the highest level of service possible. Like being open early ‘til late, 7 days a week with Local Business Managers on hand to help. Because running a business is challenging enough

Personal service

Your Local Business Manager can help support your business, and you can talk to one of our Customer Support team 24/7 

Simple and straightforward

Clear fees and charges. If your balance stays above £5,000 the whole month, we’ll waive your monthly account maintenance fee

We’re open 7 days a week

You don’t need an appointment – just walk into a store, and we’ll start opening your account

TALK TO US ABOUT OUR BUSINESS BANK ACCOUNT NOW

Walk into your nearest store 7 days a week to talk to your Local Business Manager. No appointments needed

Additional information

Additional information

Eligibility

To open a Business Bank Account, you need:

  • To be 18 or over
  • Have an annual turnover or balance sheet value of up to £2 million
  • At least 50% of the business’s directors or beneficial owners (people who own more than 25% of the shares) are resident in the UK
  • At least 50% of shares owned by UK residents

Bank the way you want

We believe in letting you decide how you want to bank with us – whether that’s online, in store, over the phone or on the move.

Ways to bank


Setting up your online banking and mobile app

Manage your Business Bank Account online or on your mobile.

Business online banking

Business mobile banking app


Switching to Metro Bank

Moving your account to Metro Bank is simple – we can get all your funds, direct debits and standing orders switched and set up within 7 days, guaranteed.

Find out more about switching to Metro Bank


Find your Local Business Manager

Your Local Business Manager is based in your nearest Metro Bank store. You can find their name and contact details on the store page.

Find your nearest store


Overdrafts

This account supports an overdraft, but you need to apply for one. Once we’ve reviewed your financial status, we’ll let you know our decision.

Find out more about Business Overdrafts


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.

Important: Cheques will begin to be processed as soon as they are received by a bank, which could be on the same day as it’s written. Please ensure you have enough money in your account to cover all your payments, including cheques, to avoid becoming overdrawn.

Fees and charges

Fees and charges

Daily balanceMonthly account feeMinimum balanceUK transaction fees
Over £5000 Zero None 50 free per month then £0.30 each
Under £5000 £5 None £0.30 each

Using your debit card abroad

We don’t charge fees for non-sterling transactions or purchases in many European countries. If you’re outside of Europe, our rates offer the best value possible. Account fees and charges will still apply, though.

LocationCard PurchaseCash Withdrawal
In Europe* FREE FREE
Outside Europe* 2.75%** 2.75% + £1.50**

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

If you use your card abroad, any foreign currency transaction will be converted into sterling on the day it’s taken out of your account. The exchange rate is set by MasterCard®.

MasterCard® is a registered trademark of MasterCard International Incorporated. 

**The current rate of 2.75% will change to 2.99% on 10 January 2019


If you don’t have enough in your account

If your account balance and agreed overdraft aren’t enough to cover a payment, we may give you an unarranged overdraft. Unarranged overdrafts have a typical interest rate of 25% EAR (variable).

EAR stands for equivalent annual rate. It shows the rate you’d pay if you remained overdrawn for a year. It takes into account the interest rate you’re charged when you go overdrawn, how often it’s charged and the effect of compounding – charging interest on interest – on your debt.

‘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 will be calculated daily on your account and applied monthly. The amount of interest payable and when it will be charged will be shown on your monthly statement.

We may also make other charges:

  • £25 charge for an unpaid item (when you don’t have funds to cover a cheque, direct debit or standing order payment and we have to return it unpaid)
  • £15 charge for a paid item (when a cheque, direct debit or standing order is deducted from your account and creates an unarranged overdraft)

Fees and charges

There’s no monthly charge for this account as long as the balance remains above £5000 every day within the month, otherwise you will pay the monthly fee of £5.

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. 

Opening a Business Bank Account

Opening a Business Bank Account

What we need to open your account

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:

  • Account operators (authorised signatories or nominated persons)
  • Responsible individuals (anyone who directly or indirectly controls 25% or more shares)
  • Company officials

Proof of identity

A valid passport, EU national ID card or UK driving licence is ideal, and may be all we need. 


Proof of address

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.


As a Sole Trader


As a Partnership


As a Limited Liability Partnership


As a Limited Company

Get all the details on our Business Bank Account

Download our PDF to read when you like – it contains all the ins and outs of our Business Bank Account. 

Business Bank Account Details (PDF) (635KB)

Our Service Relationship with Business Customers (PDF) (1.1MB)

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FAQs

Got a question? Find your answers here. 

  • How can I reduce my bank charges?

    You can reduce your bank charges with our Monthly Balance Reward. If your account balance stays above £5,000 for any whole month, for that month we’ll waive the monthly maintenance fee – and give you 50 free transactions.

    If your balance falls below £5,000 at the close of business on any day, you’ll pay the usual fees that month. The £5,000 balance needs to be cleared funds within the account – ask your Local Business Manager for more details.

  • Can I open a business account at the weekend?

    Yes, you can. All our stores are open 7 days a week. Just pop in and see us.

  • Can I get an overdraft or credit card with my business account?

    You can apply for an overdraft with your Business Account – just talk to your Local Business Manager.

    Find out more about Business Overdrafts

    You can also apply for our Business Credit Card. It’s a no-fee card with a simple low rate.

    Find out more about our Business Credit Card

  • How do I connect my account to Xero accounting software?

  • Can I access my transaction history for closed accounts?

    Yes. If you choose to close your account, we will offer you the option to receive up to 5 years’ worth of prior transaction history at the point of account closure. We retain your transaction history for at least 5 years after you closed your account, so you can also request up to 5 years’ worth of prior transaction history from the date of the request. To make a request, you can visit us in store or call us on 0345 08 08 508.

    We will provide a printed version of your transaction history via post, normally within 7 working days. You can also download your transaction history via online banking before you close your account.

    Accounts which have been closed due to fraud or other unlawful activity, impairment, bankruptcy, insolvency, liquidation or which have had no activity in the past 5 years will not be eligible to receive transaction history.

Your ways to bank

Online

Metro Bank 24/7. Check balances, make payments, see transactions and open new accounts any time - all with internet banking

Mobile

Control your money on the move with our mobile banking app. Check balances, move money, make payments and more wherever you are.

In-store

A friendly face and a quick answer. And all the usual payment services too. We're open 362 days a year

Telephone

If you need help you can talk to a real person in our UK contact centre 24 hours a day, 7 days a week, 365 days a year

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.

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