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Welcome to the Revolution

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Switching From RBS to Metro Bank

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.

  • Open before and after normal business hours, 7 days a week, 362 days a year
  • Local Business Managers in every store, no appointments needed
  • Comprehensive support for your business from our contact centre, sector services teams and relationship managers
  • Choose how to access and control your money, either through our app, on the phone, online or in our stores
  • We have stores all over south, west and east England, and are continuing to open new stores across the UK
  • Our customers think highly of our service, voting us as one of the top-scorers on the independent service quality survey

Switching to Metro Bank

Interested in joining the revolution? The first step is working out which account suits your needs – you’ll see a quick breakdown of our business accounts below. There’s more information on the account’s page as well as details on how to switch to us

Want to switch or keen to find out more? Give us a call or email and we’ll be able to help

Call us on 0203 402 8054 or email tbm@metrobank.plc.uk

Incentivised switching cash payment

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).

Please note that for businesses turning over £1M or more, the incentive is paid in two stages – 50% once the switch has been completed and funds paid to Metro Bank by the BCR, and 50% a year later. 

This is in line with the scheme rules set out by the BCR.

Please be advised that in order to qualify for the incentive payment, your account switch from RBS needs to be complete - meaning both that a business current account has been opened with Metro Bank and your old account with RBS closed.

To check if you’re eligible and what incentive you could receive go to the RBS Business Banking Switch page. 

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Our account for start-ups and SMEs

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

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Our account for larger businesses

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

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Our community account

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

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FAQs

  • What is the RBS Alternative Remedies Package?

    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.

  • Why is it relevant to Metro Bank?

    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. 

  • Did Metro Bank pitch for the Capability and Innovation fund?

    Yes, Metro Bank did pitch for the Capability and Innovation Fund.

  • When did Metro Bank find out its pitch was successful?

    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.

  • What is Metro Bank planning to spend its £120m Capability and Innovation Fund money on?

    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.

  • Will RBS customers be able to switch to Metro Bank?

    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. 

  • What incentive will Metro Bank be offering eligible RBS customers?

    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.

    Please note that for businesses turning over £1M or more, the incentive is paid in two stages – 50% once the switch has been completed and funds paid to Metro Bank by the BCR, and 50% a year later. 

    This is in line with the scheme rules set out by the BCR.

    Please be advised that in order to qualify for the incentive payment, your account switch from RBS needs to be complete - meaning both that a business current account has been opened with Metro Bank and your old account with RBS closed.

    Eligible RBS customers will be able to view their personal incentive amount on the RBS Business Banking Switch site.

     

  • What happens if eligible RBS customers want to switch before the ‘switching incentive’ is available?

    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.

  • Will customers switching from other banks be eligible for an incentive? If not, why not?

    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. 

  • When does the switching incentive start and run until?

    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.

  • How will businesses know if they are eligible for the incentive?

    All eligible customers will be contacted by RBS to let them know about the Incentivised Switching Scheme. RBS’s Business Banking Switch site has all the information for eligible customers. 

  • I’m an eligible RBS customer, how can I switch to Metro Bank?

    You can start the switching process from 25 February 2019. Register on the RBS Business Banking Switch for further updates.