See the complete list of valid IDs, deposit and interest rates, and fees. If your account balance and agreed overdraft aren’t enough to cover a payment, we may give you an unarranged overdraft. This will enable new customers to open a business account on their mobile or online, 24 hours a day. If your balance falls below £5,000 at the close of business on any day, you’ll pay the usual fees that month. Pleased to bank with Metro Bank. If you applied online before 8am on Friday 9 October, or you already have an appointment booked in store to make an application, you can carry on as normal. You can also download your transaction history via online banking before you close your account. Company number: 6419578. Business mobile banking app What the account doesn’t come with The Metro Bank Foreign Currency Account doesn’t come with a cheque book or debit card – so you can’t take money out at a cash machine. How to get started. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. These dedicated sector teams can support you with the challenges you’re facing, and have the knowledge to help you find the right solution. We’re getting a huge amount of interest in our Business Bank Account at the moment. We will charge for some transactions and services such as international payments, CHAPS payments and an Auditor's Certificate of Balance. Bank Accounts for Startups, Sole Traders, Small Businesses & SMEs. Business Bank Account Details (PDF) (275KB), Our Service Relationship with Business Customers (PDF) (1.1MB). We’re planning to start accepting applications again early next year. Read the simple instructions for connecting your account to Xero, Find out more about Xero accounting software. Metrobank offers two kinds of business bank account to keep things simple. You should be ready for a relatively long series of fees, which include: Account maintenance fees. For further information visit www.fscs.org.uk. Metro Bank has become the latest lender to stop opening new accounts for businesses, despite the Bank of England calling for credit to keep flowing. We've designed an account just for you. Metro Bank PLC is an independent UK Bank - it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Control your money on the move. Check balances, move money, make payments and more with our handy mobile app. There’s no monthly charge for this account as long as the balance remains above £5000 every day within the month, otherwise you will pay the monthly fee of £5. We’re getting a huge amount of interest in our Business Bank Account at the moment. ‘Variable’ means we may change these rates and charges from time to time, or introduce new charges. The best business bank account differs depending on your banking needs. The commercial account and the community current account both come with no monthly fee. And all the usual payment services too. Opening an account was made so seamless with personal attention to customer. Value for money. 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. Get the basics, add Bacs and CHAPs or go for our full commercial platform. Metro Bank PLC. A friendly face and a quick answer. The features of a business bank account include: An overdraft, which lets you borrow money through your business account - but watch out for expensive fees. Full cheque book and banking facilities. An account for smaller businesses Our Business Bank Account has been designed to support businesses with a turnover under £2 million a year. Here at US Metro Bank, we are aware of this; and regardless of the size of your business, we offer you hassle free, customized banking options to better manage your business cash flow. Metro Bank has become the latest lender to stop opening new accounts for businesses, despite the Bank of England calling for credit to keep flowing. Your eligible deposits with Metro Bank PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Does your business have an annual turnover of £2 million? We have the online banking solution that's best for your business. Keep your balance at £5,000 or more for the whole month and we'll waive your monthly fee. Business Bank Account Transfer to Metro Bank. We retain your transaction history for at least 5 years after you closed your account, so you can also request up to 5 years’ worth of prior transaction history from the date of the request. Just submit one valid, photo-bearing ID with your signature. There’s no monthly fee if you keep a minimum balance on the account, but it becomes £5 if your balance drops under £5,000. Metro Bank gives you 12 months’ free membership to Enterprise Nation: a whole year of expert help to start, run and grow your business. Any deposits you hold above the limit are unlikely to be covered. You can find all the details of our transaction and service charges in the downloadable PDF below. They want a bank that speaks their language, that understands their needs, and that makes banking simple and worry-free. Compare Metro Bank Business Accounts to other leading business accounts. Yes. Registered office: One Southampton Row, London, WC1B 5HA. Find out which IDs are acceptable. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Your eligible deposits with Metro Bank PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Download our PDF to read when you like – it contains all the ins and outs about your business bank account. We're open seven days a week, and we'll always find time for a chat. Get help when you need it, with a fixed rate for arranged overdrafts of less than £25,000 and no hidden fees. We're in business to help you make this happen. Visit them in person, send them an email or give them a call. OUR BUSINESS AND COMMERCIAL ACCOUNTS Our flexible accounts have been designed to suit all business sizes and types. They also offer three specialised accounts - one for foreign currency, one for community groups, and one for insolvency specialists. And we’re here with person-to-person support whenever you need us, because we want your business to grow. Check balances, make payments, see transactions and open new accounts any time - all with online banking. The bank sends the interest to the state IOLTA fund on a monthly basis. Our accounts are designed to take the hassle out of banking, leaving you more time to focus on running your business. First Metro Bank Business Debit Card; $100 Opening Deposit; Unlimited Transactions; Subject to Account Analysis; IOLTA Checking. Free business banking app for complete flexibility when on the go. Metrobank will make sure that your business is on track with the right savings account. Who offers business bank accounts? Quick and easy to set up. More about account fees. There’s no monthly charge for this account as long as the balance remains above £5000 every day within the month, otherwise you will pay the monthly fee of £5. Opening a Metrobank account is easy. To give them what they need and put a smile on their faces, so they'll pass on your name to their friends. Get better visibility and more control over all your money with Monzo Business bank account. Click here if you’re eligible for the RBS Incentivised Business Switching Scheme and wish to open an account – we can still accept these applications. To make a request, you can visit us in store or call us on 0345 08 08 508. Different business accounts come with varying features, and you need to see which are available to your business. Metro Bank today announces that it has launched a new Business Account Online (BAO) journey for SME customers. Metro Bank suspends new business accounts. MamathaHegde. For further information visit www.fscs.org.uk. We like to be upfront with you. Tell us how you want to start and we'll find the best and meaningful savings account for you. Let Metrobank guide you in saving for the future. We’ll walk you through the accounts we have, what you need to open them, and which businesses they’re designed for, If you’re looking to save money for your business, we have a number of accounts that may interest you, Whether it’s buying new equipment or helping to smooth your cash flow, we can help, We’ve teamed up with Xero, letting you link your account directly to this software and making managing your accounts easier. Find out more about our Business Credit Card, Don’t worry – we’ve got you covered. Free online banking for the first 12 months and for the lifetime of the account if the total balance remains above £2,000. Transaction fees. Metro Bank PLC. Quick & easy comparison. You're in business to help your customers. A Metrobank checking account gives more flexibility and freedom to grow your business. Make your everyday banking easy with accounts designed to be simple and straightforward, Make your money work for you with deposit accounts to manage your extra cash, Smooth your business’s cash flow with our credit, loan, asset and invoice financing options. The amount of interest payable and when it will be charged will be shown on your monthly statement. When we refer to Europe, we mean the countries which are part of the Single European Payments Area (SEPA). We're open 362 days a year. "Metrobank" is the registered trademark of Metro Bank PLC. 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. Learn More Bank or open an account online, by app or in one of our stores - Our branches are open 7 days a week from early until late, or chat to our call centre 24 hours a day, 7 days a week. At Metro City Bank, we realize business owners and managers have far more important issues to be concerned with than their business bank accounts. Accounts which have been closed due to fraud or other unlawful activity, impairment, bankruptcy, insolvency, liquidation or which have had no activity in the past 5 years will not be eligible to receive transaction history. Access and manage your money 24/7 with our app, on the phone or online; Our stores are open 7 days a week, 362 days a year; We’re here to support your business, from our sector services teams to Local Business or Relationship Managers We will provide a printed version of your transaction history via post, normally within 7 working days. Open an account. Our accounts are designed to take the hassle out of banking, leaving you more time to focus on running your business. Click here to know more Metrobank’s Checking Account for Business. Any deposits you hold above the limit are unlikely to be covered. That's why we give you plenty of choice when it comes to managing your business banking with us, and let you pick the way that works for you. To open an account, visit the nearest Metrobank branch and bring one photo-bearing ID with your signature, a well as your initial deposit. Know more about Metrobank Deposits and Savings here. There is also no overdraft facility and you don’t earn any interest on money in your account. Company number: 6419578. To make sure our services keep running smoothly, and so we can meet our commitments to our existing customers, we’ve temporarily stopped taking any new applications online or in store. It’s a no-fee card with a simple low rate. Reviewed on 16th January 2020 . Show which countries you can use your card in for free, Hide which countries you can use your card in for free, Independent service quality survey results: business accounts, Information about our business current account services, Trade services: make the world your marketplace, What you need to open a business or commercial account, Managing my internet banking & security details, Read the simple instructions for connecting your account to Xero, 19 EU Euro countries — Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain, 8 EU non-Euro countires — Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, 2 non-EU, Euro countries — Monaco, San Marino, 4 non-EU, non-Euro countries — Iceland, Liechtenstein, Norway, Switzerland, £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). Click here if you’re eligible for the RBS Incentivised Business Switching Scheme and wish to open an account – we can still accept these applications. An account which generates funds from the interest on attorney’s small or short-term, escrowed funds. Metro Bank business account fees. Metro Bank offers current accounts, business bank accounts and lots more with a difference. Talk to a real person in our always-open UK contact centre, 24 hours a day, 7 days a week, 365 days a year. See our range of deposit accounts that will make your money work harder. Speak to our business specialist team on: You can reduce your bank charges with our Monthly Balance Reward. EAR stands for equivalent annual rate. One account is focussed towards small businesses and startups, the other towards larger corporations. Unarranged overdrafts have a typical interest rate of 25% EAR (variable). Most of the big high street names offer a range of business bank accounts. Metro suspended openings because of a deluge in demand from businesses seeking government-backed bounce back loans, for which borrowers must have a current account … If you are an existing customer, please contact your Relationship Manager, Independent service quality survey results: business accounts, Information about our business current account services, Trade services: make the world your marketplace, What you need to open a business or commercial account, Managing my internet banking & security details, Access and manage your money 24/7 with our app, on the phone or online, Our stores are open 7 days a week, 362 days a year, We’re here to support your business, from our sector services teams to Local Business or Relationship Managers, If you need help with your account, please contact 0345 0808 508. It shows the rate you’d pay if you remained overdrawn for a year. Where can I use my card for free in Europe? 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