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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 Partnership

As a Limited Liability Partnership

As a Limited Company

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.

*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. 

Fees and charges

There’s no monthly charge 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. 

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).

Bank the way you want

Switching to Metro Bank

Moving your account to Metro Bank is simple, and if your annual turnover is below £6.5 million, we guarantee it will be switched within 7 days.

Setting up your online banking

Manage your Commercial Current Account online.

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.