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Look after your client deposits

Client Premium Deposit Account

Earn interest on the money you’re holding for your clients with our Client Monies Deposit Account

Earn interest

Get 0.01% AER (variable) interest on money you’re holding for clients

Easy access

Withdraw money at any time

Simple transactions

Send and receive electronic payments, including CHAPS, Bacs, SWIFT and standing orders

Talk to us about our client premium deposit account now

Your local director can talk you through how we can support your banking needs. Their details will be listed alongside your local store

Interest Rates, Fees and Charges

Interest Rates, Fees and Charges

Interest rate Minimum balance Interest payment frequency
0.01% 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.


Fees and charges

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.

Opening a Client Premium Deposit Account

Opening a Client Premium Deposit 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. 

Show suitable ID for UK, EEA or Swiss Nationals Hide suitable ID for UK, EEA or Swiss Nationals

Photographic ID

  • Valid UK/EEA/Switzerland passport
  • Valid UK full photocard driving licence
  • Valid UK provisional photocard driving licence
  • Valid EU member state national ID photocard
  • Valid firearms certificate or shotgun licence.

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 old-style UK driving licence (no photo)
  • HMRC documentation (PAYE Coding Notice/Tax Notification/Self-Assessment/Statement of Account/NI contributions bill) issued in the last 3 months or valid for the current tax year. We can’t accept P45 or P60 forms
  • Notification letter from Benefits Agency/Local Authority confirming your right to benefits (Department for Works and Pensions (including Jobcentre Plus), Benefits Agency or Veterans Agency), dated within the last 12 months
Show suitable ID for other nationalities Hide suitable ID for other nationalities

Valid passport with your current visa (with at least 6 months left on it) or a Biometric Residence Permit.


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.

Show suitable proofs of address Hide suitable proofs of address
  • Current UK full photocard driving licence
  • Current UK provisional photocard driving licence
  • Current old-style UK driving licence (no photo)
  • Council Tax bill (valid for the current financial year)
  • HMRC documentation (PAYE Coding Notice/Tax Notification/Self-Assessment/Statement of Account/NI contributions bill valid for the current tax year issued by Job Centre Plus dated within the last 3 months. We can’t accept P45 or P60 forms.
  • Notification letter from Benefits Agency/Local Authority confirming your right to benefits (Department for Works and Pensions, Jobcentre Plus, Benefits Agency or Veterans Agency), dated within the last 12 months
  • Current Tenancy Agreement, from a local council or a recognised letting agency
  • Bank, Building Society, Credit Union statement, dated within the last 3 months
  • Credit card statement, dated within the last 3 months
  • Mortgage statement from a recognised lender, dated within the last 12 months
  • Life assurance/life insurance policy, dated within the last 3 months but outside of cancellation period
  • Motor insurance certificate, valid for the current year but outside of cancellation period – we can’t accept cover notes
  • Utility bill - gas, electricity or water, dated within the last 3 months
  • Telephone bill, dated within the last 3 months. We can’t accept mobile phone bills
    Sky or cable TV bills, dated within the last 3 months

As a Sole Trader

Show suitable documents for Sole Traders Hide suitable documents for Sole Traders

If you are a sole trader you will need to provide one of the following documents:

  • An existing business bank statement (dated within the last 3 months)
  • A utility bill (dated within the last 3 months)
  • An invoice from a supplier (dated within the last 3 months)
  • A letter addressed to Metro Bank from an accountant acting on behalf of your business
  • HMRC correspondence (dated within the last 12 months)
  • Business premises rates bill (dated within the last 12 months)

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.


As a Partnership

Show suitable documents for Partnerships Hide suitable documents for Partnerships

Partnerships, including limited partnerships, will need to provide one of the following documents:

  • An existing business bank statement (dated within the last 3 months)
  • A utility bill (dated within the last 3 months)
  • An invoice from a supplier (dated within the last 3 months)
  • A letter addressed to Metro Bank from an accountant acting on behalf of your business
  • HMRC correspondence (dated within the last 12 months)
  • Business premises rates bill (dated within the last 12 months)

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.


As a Limited Liability Partnership

Show suitable documents for Limited Liability Partnerships Hide suitable documents for Limited Liability Partnerships

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:

  • A Certificate of Incorporation, and
  • A registered members list to clarify the details of the members and their individual shareholding within the company

As a Limited Company

Show suitable documents for Limited Companies Hide suitable documents for Limited Companies

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:

  • A Certificate of Incorporation, and
  • If the Limited Company is using a “trading as” name, a copy of the Company Board Resolution (signed by 2 Directors or 1 Director and the appointed Company Secretary, or by the sole Director, if there is no appointed Company Secretary) authorising the use of the “trading as” name
Additional Information

Additional Information

Eligibility

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.


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, through your Relationship Manager or on the move with our app.

Ways to bank


Setting up your online banking and mobile app

Manage your Client Premium Deposit Account online or on your mobile.

Business online banking

Business mobile banking app


Deposit terms

  • You have unlimited access to your client's money.
  • You can withdraw funds in any Metro Bank store or by transferring funds instantly to another Metro Bank account.
  • You can also set up a beneficiary account to transfer funds outside of Metro Bank.
  • You can withdraw up to any amount from your Client Premium Deposit account. For cash withdrawals over £1,000 you must give us one banking weekday’s notice.

Interest and funds on maturity will be paid into your nominated Metro Bank account. 


Your account and tax

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.

Get all the details on our Client Monies Deposit Account

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)

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FAQs

How do I make international payments?

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. 

What is the difference between CHAPS, SWIFT and Bacs payments?

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. 

How long does it take for a cheque to clear?

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.

Can I use internet banking with my Client Premium Deposit Account?

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.

Where can I find the rate for my Metro Bank account that’s now closed to new Business Customers?

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.

Your ways to bank

Online

Check balances, make payments, see transactions and open new accounts any time - all with Business Online Banking.

Mobile

Control your money on the move. Check balances, move money, make payments and more with our handy mobile app.

In-store

A friendly face and a quick answer - and all the usual payment services too. 

By phone

Talk to a real person in our our UK contact centre. We’ve temporarily changed our opening hours – click the button below to check when we're available.

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