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