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Our Business Bank Account

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

Our Business Bank Account is perfect for SMEs – there’s no minimum balance, no hidden charges, and we’ll waive the monthly account fee if your account stays above £5,000 all month

Personal service

Banking as it should be – expert service from your Local Business Manager, 24/7 customer support and stores that are open 7 days a week

50 free transactions

If your balance stays above £5,000 for the whole month, we’ll not only waive the £5 monthly account fee, you’ll also get 50 free transactions

No appointments needed

You don’t need to make an appointment, just walk into a store and you’ll be able to talk to the Local Business Manager about your account

WANT TO TALK?

If you’d like to find out more or switch to this account, give us a call or email and we’ll get the ball rolling

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

If you’d prefer to talk face-to-face, walk into your nearest store any day of the week and see your Local Business Manager. No appointment necessary

Find your nearest store

If your business requires lending services, like an overdraft, a loan or invoice/asset financing, please give us a call on the number above

Switching to a Business Bank Account

Switching to a Business Bank Account

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

If you only need a business account and/or a deposit account, you can come see us in store 7 days a week and speak to the Local Business Manager.

Everyone involved in opening the account will need to provide proof of identity, including:

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

Want to know which documents you may need? You can find a breakdown of them below. Having these to hand can help speed up the process.


Proof of identity

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


Suitable ID for other nationalities


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

More about this account

More about this account

Eligibility

To switch to a Business Bank Account

  • You must be over 18
  • Have an annual turnover or balance sheet value under £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

To receive a cash incentive payment, you’ll need to be an eligible RBS customer. Find out if you’re eligible and what your incentive payment is on the RBS Business Banking Switch page.


Additional services

Our Business Bank Account is supported by a range of other services.

Overdrafts

Protect your short-term cash flow with an overdraft. Our fees are upfront, so you’ll know your rate and your arrangement fee.

You’ll need to apply for an overdraft and, once we review your financial status, we can let you know our decision.

Find out more about Business Overdrafts


Credit Cards

A credit card can help to support your cash flow when you need it.

Find out more about Business Credit Cards


Business loans

Help your business grow with our simple borrowing solutions.

Find out more about our borrowing options


Accounting support

Connect your Business Bank Account to Xero’s Cloud Accounting Software, so you can manage your accounting simply all online.

Find out more about connecting your account to Xero


Cash services

For businesses that deal with cash, we offer a number of services. You can pick up, deposit or exchange cash in our stores, organise cash delivery and collection to and from your premise, use our Magic Money Machines to count your coins and deposit them straight to your account and deposit or collect cash from your nearest post office.


Bank the way you want

Once your account is up and running, you can access it in a number of ways. So, whether you want one-to-one support with your day-to-day banking from a Local Business Manager, or prefer to manage your business online or on our app, you'll have a range of services to help you run your business your way.

If you ever get stuck and need support, our stores are open 362 days a year from 8am to 8pm on weekdays, 8am till 6pm on Saturdays and 11am to 5pm on Sundays and Bank Holidays. You can also call our UK-based contact centres 24/7, 365 days a year to make sure your finances always have the attention and help they need.

Online and mobile banking access is free to help you monitor your accounts, but you can also upgrade to our enhanced online service as your business and its needs grow. One of our Local Business Managers can tell you more about this service.

You can also use the Post Office to pay cash into your account, deposit cheques or convert notes into change. You can find out more on our Post Office business banking page.

Find out more about our ways to 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 


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 balance Monthly account fee Minimum balance UK transaction fees
Over £5000 Zero None 50 free per month then £0.30 each*
Under £5000 £5.00 None £0.30 each

* Any combination of 50 of the following transactions: ATM withdrawals, automated credits, bill payments, cheque payments, cheque deposits, debit card payments, direct debits, faster payments and standing orders.

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. 


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 are simple and straightforward. Account fees and charges will still apply, though.

Location Card Purchase Cash Withdrawal
In Europe* FREE FREE
Outside Europe* 2.99% 2.99% + £1.50

*These are the countries you can use your card in for free

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. 


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)

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) (929KB)

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

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.

    Eligible RBS customers will be able to view their personal incentive amount on RBS’s 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.