Instant Access Savings

We'll write to existing customers who are impacted by a change, in line with the timescales outlined in our Terms & Conditions. We'll also update our website with any pending changes.

There are a few different ways you can pay money into your Metro Bank account, the fastest being a payment from one bank to another. You can also deposit a cheque or pay cash* into your account at your nearest store.

*Please note that you may be asked additional questions about the source of funds to help keep your money safe.

We’ve introduced limits on the amount of cash customers can pay into their Metro Bank account each day.

• Personal accounts – new daily limit £5,000*
• Business accounts (including community accounts) – new daily limit £10,000*

  *If you are depositing foreign currency into a ‘regular’ GBP or a Foreign Currency Account, this will be the GBP equivalent of the above limits using the exchange rate on the day of the deposit

The new cash deposit limit for Commercial Current Accounts won’t be introduced until early 2023. If you have this type of account, your Relationship Manager will be in touch nearer the time to discuss the new limit with you.

Changes to who can pay in cash

To pay cash into a Metro Bank account you must either:

• be named on the account, or
• have authority to manage the account – e.g. power of attorney, or
• be paying less than £250 into a Young Savers account if you are not named on the account (the account holder or a named person on the account can pay in larger amounts), or
• an employee paying into a business or commercial account for your employer, using a pre-printed paying-in slip issued to the account holder.

Exchanging cash

You can only exchange cash over the counter if you’re a Metro Bank customer.

You can transfer money from existing Metro Bank accounts online, in store or by calling us on 0345 08 08 500. If you’re transferring money from another bank or building society, you’ll need to give them your new Metro Bank details.

Yes, just pop into one of our stores. You can open a joint account to manage your money together. 

You can find the rates for any account that is not listed on the current rates page set out in Rates for Closed Products.

Instant Access Savings Account interest is paid on the first working day of the month.

The Annual Equivalent Rate (AER) shows the rate of interest earned over the course of a year. You can use the AER to compare financial products. The Gross rate is the contractual rate paid & it's calculated daily. How often it's paid out depends on your account type and term.

Existing Metro Bank customers can apply to open a new Instant Access Savings Account through our Mobile App or via one of our stores. Customers new to Metro Bank can apply to open an Instant Access Savings Account online, via our website.

When applying via our app, log in and select Products & Services to see products available to open.

You can create new payees through our Mobile App or Online Banking.

You can nominate a payee for your Instant Access Savings Account through Online Banking or you can call us on 03450808500.

If you only hold an Instant Access Savings Account with us and would like to create a new payee or nominate a payee – please call us on 03450808500.

See through the fraudsters

If someone contacts you claiming to be from Metro Bank – or another bank or organisation – and asks you for your account details, it’s a scam. If this happens, please call us straight away on 03450808500.

Our Limited Edition rates are variable throughout the term and we review these regularly in line with changes in the savings market. We’ll let you know if we decide to change the rates on any savings accounts, including Limited Edition rates, in line with our Terms and Conditions.

Limited Edition rates will not drop below the Standard Variable Rate for each product.

Our Limited Edition rates are variable throughout the term and we review these regularly in line with changes in the savings market. In line with our Terms and Conditions, if we decide to make any changes to interest rates, we’ll let you know by email or letter.

You can withdraw funds and move them to another Metro Bank account or to one nominated beneficiary using Online Banking. You can create and select a beneficiary for your Instant Access Savings Account funds using Online Banking or by calling us on 0345 0808 500.

You can also withdraw and move funds to your chosen beneficiary on the Mobile App. The beneficiary will need to be created and selected in Online Banking, or by calling us on the number above, before this can be done.

If you’re not registered for Online Banking and need to make a withdrawal, you can visit your nearest store or call us on 0345 0808 500.

Call charges might apply – please check with your service provider.

You can close your account by visiting your local store or by calling us on 0345 0808 500. Call charges might apply – please check with your service provider.

If there’s a balance in the account, the funds will need to be withdrawn before the account can be closed.