Our accounts are designed to take the hassle out of banking, leaving you more time to focus on running your business. We’ve got colleagues ready to help across a number of industries. News 14 October 2020 Business Matters. Business Bank Account Details (PDF) (275KB), Our Service Relationship with Business Customers (PDF) (1.1MB). They also offer three specialised accounts - one for foreign currency, one for community groups, and one for insolvency specialists. Speak to our business specialist team on: You can reduce your bank charges with our Monthly Balance Reward. When we refer to Europe, we mean the countries which are part of the Single European Payments Area (SEPA). We're open seven days a week, and we'll always find time for a chat. Metro Bank suspends new business accounts. Keep your balance at £5,000 or more for the whole month and we'll waive your monthly fee. Get help when you need it, with a fixed rate for arranged overdrafts of less than £25,000 and no hidden fees. If your account balance and agreed overdraft aren’t enough to cover a payment, we may give you an unarranged overdraft. 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. And we’re here with person-to-person support whenever you need us, because we want your business to grow. The amount of interest payable and when it will be charged will be shown on your monthly statement. Visit them in person, send them an email or give them a call. If this means you’ll pay more, we’ll let you know beforehand. 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. Just submit one valid, photo-bearing ID with your signature. You can also apply for our Business Credit Card. OUR BUSINESS AND COMMERCIAL ACCOUNTS Our flexible accounts have been designed to suit all business sizes and types. Metro Bank : new digital account opening for businesses takes just 15 minutes to set up. We have the online banking solution that's best for your business. Metro Bank business account fees. Any deposits you hold above the limit are unlikely to be covered. Metrobank offers two kinds of business bank account to keep things simple. I have had the business account with Metro Bank for over 5years. MamathaHegde. 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. The £5,000 balance needs to be cleared funds within the account – ask your Local Business Manager for more details. The exchange rate is set by MasterCard®. "Metrobank" is the registered trademark of Metro Bank PLC. You're in business to help your customers. $100 Opening Deposit; No Service Charge; Metro Business Investment. 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. 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 … 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. We’re getting a huge amount of interest in our Business Bank Account at the moment. 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. Company number: 6419578. It's good to bank with people who think like you. Company number: 6419578. Click here to know more Metrobank’s Checking Account for Business. I recently wanted to open a business account with Metro Bank. 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 Unarranged overdrafts have a typical interest rate of 25% EAR (variable). Tell us how you want to start and we'll find the best and meaningful savings account for you. Full cheque book and banking facilities. Interest will be calculated daily on your account and applied monthly. Where can I use my card for free in Europe? Registered office: One Southampton Row, London, WC1B 5HA. Value for money. "Metrobank" is the registered trademark of Metro Bank PLC. Learn More All debit card transactions in Europe are free of charge. Check balances, move money, make payments and more with our handy mobile app. To make a request, you can visit us in store or call us on 0345 08 08 508. For further information visit www.fscs.org.uk. Different business accounts come with varying features, and you need to see which are available to your business. Bank Accounts for Startups, Sole Traders, Small Businesses & SMEs. Registered office: One Southampton Row, London, WC1B 5HA. To open an account, visit the nearest Metrobank branch and bring one photo-bearing ID with your signature, a well as your initial deposit. The commercial account and the community current account both come with no monthly fee. The best business bank account differs depending on your banking needs. Talk to a real person in our always-open UK contact centre, 24 hours a day, 7 days a week, 365 days a year. Download our PDF to read when you like – it contains all the ins and outs about your business bank account. Get better visibility and more control over all your money with Monzo Business bank account. Business Bank Account Transfer to Metro Bank. Opening an account was made so seamless with personal attention to customer. Metro Bank gives you 12 months’ free membership to Enterprise Nation: a whole year of expert help to start, run and grow your business. These include: Bank of Scotland, Barclays, Clydesdale Bank, HSBC, Lloyds Bank, Metro Bank, NatWest, Royal Bank of Scotland, Santander, the Co-operative Bank, TSB and Yorkshire Bank. Quick and easy to set up. We're a fully regulated UK bank. 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. It’s a no-fee card with a simple low rate. You should be ready for a relatively long series of fees, which include: Account maintenance fees. Whether you’re looking for an account for transactions, savings and deposits or need a loan or business credit card, we can provide you with what you need quickly and easily This will enable new customers to open a business account on their mobile or online, 24 hours a day. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. The bank sends the interest to the state IOLTA fund on a monthly basis. Check balances, make payments, see transactions and open new accounts any time - all with online banking. Transaction fees. 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. 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. 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. 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 like to be upfront with you. Metro Bank PLC. EAR stands for equivalent annual rate. An account for smaller businesses Our Business Bank Account has been designed to support businesses with a turnover under £2 million a year. Opening a Business or Commercial account Everyone involved in opening the business account will need to provide proof of identity and proof of address, including: Account operators (authorised signatories or nominated persons) Responsible individuals (anyone who directly or indirectly controls 25% or more shares) If your balance falls below £5,000 at the close of business on any day, you’ll pay the usual fees that month. MasterCard® is a registered trademark of MasterCard International Incorporated. The pricing is simple, and there are no hidden fees We’re planning to start accepting applications again early next year. A friendly face and a quick answer. Get the basics, add Bacs and CHAPs or go for our full commercial platform. Your Local Business Manager can help support your business. See all the fees we charge when you have a business bank account with us. We’re getting a huge amount of interest in our Business Bank Account at the moment. We’re planning to start accepting applications again early next year. You can find all the details of our transaction and service charges in the downloadable PDF below. An account which generates funds from the interest on attorney’s small or short-term, escrowed funds. Registered in England and Wales. A Metrobank checking account gives more flexibility and freedom to grow your business. 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. You can apply for an overdraft with your Business Account – just talk to your Local Business Manager. At Metro City Bank, we realize business owners and managers have far more important issues to be concerned with than their business bank accounts. To give them what they need and put a smile on their faces, so they'll pass on your name to their friends. 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. We're in business to help you make this happen. Metro Bank today announces that it has launched a new Business Account Online (BAO) journey for SME customers. 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. 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. 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. 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. If you choose to close your account, we will offer you the option to receive up to 5 years’ worth of prior transaction history at the point of account closure. Monthly statements. And all the usual payment services too. More about account fees. Does your business have an annual turnover of £2 million? We will provide a printed version of your transaction history via post, normally within 7 working days. Compare Metro Bank Business Accounts to other leading business accounts. Registered in England and Wales. Free online banking for the first 12 months and for the lifetime of the account if the total balance remains above £2,000. 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. They want a bank that speaks their language, that understands their needs, and that makes banking simple and worry-free. Our accounts are designed to take the hassle out of banking, leaving you more time to focus on running your business. Opening a Metrobank account is easy. First Metro Bank Business Debit Card; $100 Opening Deposit; Unlimited Transactions; Subject to Account Analysis; IOLTA Checking. Metro Bank PLC. There were some process issues that we needed to overcome, but Dani Oteng who took ownership and responsibility to help me through the process and eventually the bank account was opened. Read the simple instructions for connecting your account to Xero, Find out more about Xero accounting software. Control your money on the move. 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). Make the most of your business banking relationship with a bank that offers convenience, value and flexibility for you and your business. Quick & easy comparison. We will charge for some transactions and services such as international payments, CHAPS payments and an Auditor's Certificate of Balance. Find out more about our Business Credit Card, Don’t worry – we’ve got you covered. We’re excited to be part of your financial journey. There is also no overdraft facility and you don’t earn any interest on money in your account. Reviewed on 16th January 2020 . 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. See our range of deposit accounts that will make your money work harder. Let Metrobank guide you in saving for the future. Who offers business bank accounts? 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. We're regulated by all the same rules as high street banks; Open an account straight from your phone; Award-winning customer support, 24/7 ; You get the best of Monzo. Find out which IDs are acceptable. 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. It shows the rate you’d pay if you remained overdrawn for a year. One account is focussed towards small businesses and startups, the other towards larger corporations. 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. Pleased to bank with Metro Bank. We've designed an account just for you. How to get started. 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. You can also download your transaction history via online banking before you close your account. Metro Bank offers current accounts, business bank accounts and lots more with a difference. 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. Yes. In this digital space, getting that 1:1 attention is rare, to top that their digital experience has been flawless. We're open 362 days a year. If your account balance stays above £5,000 for any whole month, for that month we’ll waive the monthly maintenance fee – and give you 50 free transactions. Free business banking app for complete flexibility when on the go. Most of the big high street names offer a range of business bank accounts. For further information visit www.fscs.org.uk. Metro suspended openings because of a … 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. Metrobank will make sure that your business is on track with the right savings account. These dedicated sector teams can support you with the challenges you’re facing, and have the knowledge to help you find the right solution. See the complete list of valid IDs, deposit and interest rates, and fees. We will charge for some transactions and services such as international payments, CHAPS payments and an Auditor's Certificate of Balance. Less time on finances means more time for the important stuff. Know more about Metrobank Deposits and Savings here. 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. Open an account. ‘Variable’ means we may change these rates and charges from time to time, or introduce new charges. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Any deposits you hold above the limit are unlikely to be covered. 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. A Bank that offers convenience, value and flexibility for you i use my for. 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