Since we launched in 2010, we’ve been offering all our customers a leading level of service and convenience in banking. As well as this great service, eligible RBS customers can receive a cash incentive when they switch to us, as part of the RBS Alternative Remedies Package. Find out if you’re eligible and what incentive you could receive on the RBS Business Banking Switch page
Easy. Convenient. Personal
Whether you’re a sole trader or a global company, we’ll make your banking as easy and convenient as we can.
Customers switching to Metro Bank as part of the RBS Incentivised Switching Scheme will have their cash incentive paid to them in full once they have switched and the funds have been sent to Metro Bank from Banking Competition Remedies Limited (BCR).
To check if you’re eligible and what incentive you could receive go to the RBS Business Banking Switch page.
Our Business Bank Account is for businesses with an annual turnover or balance sheet below £2 million. The pricing is simple, has no hidden fees and if your balance stays above £5,000 the whole month, you won’t pay a monthly account maintenance fee
Our Commercial Current Account offers businesses with an annual turnover or balance sheet over £2 million with tailored services, a dedicated relationship manager to support them and an online banking service designed to suit their needs
Our Community Current Account can keep your club, society or charity’s accounts clear and simple. There’s no monthly fee, you get 200 free transactions a month, as well as free giant cheques to create more fanfare for your special events
The RBS Alternative Remedies Package is a result of the government supporting the Royal Bank of Scotland (RBS) during the 2008 financial crisis. One of the conditions of the support was RBS had to reduce its share of the Small to Medium Enterprise (SME) banking market.
It’s made up of two funds: The Capability and Innovation Fund and the Incentivised Switching Scheme. These funds are being managed by the independent Banking Competition Remedies Limited (BCR).
Challengers like Metro Bank were able to pitch for a share of the Capability and Innovation Fund to improve their financial products and their capability to compete with RBS. Meanwhile, the Incentivised Switching Scheme will be used to fund incentives to encourage eligible RBS SME customers to switch to other banks.
We want to provide SMEs a great banking experience, and this gives us an opportunity to offer these businesses a new alternative as well as helping us to grow.
Yes, Metro Bank did pitch for the Capability and Innovation Fund.
The Capability and Innovation Fund’s announcement was on 22 February 2019, where we found out we’d been successful in our pitch and awarded £120 million.
We’ll be using the £120 million to help meet the needs of SMEs and inject vibrant competition into the banking market. It will also help us to open new stores, launch new digital service and deliver an even better banking experience to businesses.
RBS customers have been able to switch to Metro Bank ever since we launched in 2010, but the Incentivised Switching Scheme will offer eligible RBS customers an additional incentive to join the revolution.
All switching customers receive our superior service, straightforward accounts and help from our wonderful colleagues. While our accounts will remain the same for eligible RBS customers, they will receive an incentive payment when they switch.
Eligible RBS customers will be able to view their personal incentive amount on RBS’s Business Banking Switch site.
Anyone can switch their account to Metro Bank at any time, including RBS customers. However, eligible RBS customers who wish to receive the switching incentive payment will need to wait until 25 February 2019.
The RBS Incentivised Switching Scheme is only applicable to eligible RBS customers. Businesses switching from other banks will not be able to receive incentives from this fund.
The switching incentive for eligible RBS customers will begin 25 February 2019. There is no end date currently specified – it is expected that the scheme will run for up to 18 months.