Metro Bank Business Account Overview
Metro Bank offers accounts to suit different businesses, both smaller and larger. Find out more about the accounts on offer and how to apply for them._ Metro Bank Business Bank Accounts
We do not include Metro Bank Business Bank Accounts in our comparison tables, but you can compare other top UK providers:
When it was founded in 2010, Metro Bank was the first new high street bank in more than 100 years.
Today, it offers a variety of bank accounts for small and large businesses, as well as foreign currency and deposit accounts, borrowing options to improve cash flow and fund growth, and even business insurance.
Metro Bank services are available to suit whenever and wherever you like to bank, including in store, over the phone, through an app, or online.
Read on to find out more about Metro Bank.
Pros and cons of Metro Bank business banking
There are advantages and disadvantages to consider with a Metro Bank business account.
Pros of Metro Bank business banking
- You could open a business account in-branch and have a debit card the same day
- Metro Bank branches open on Sundays
Cons of Metro Bank business banking
- Monthly fee if you do not keep your balance at a minimum of £6,000
What business accounts does Metro Bank offer?
Metro Bank offers bank accounts for small and large businesses, community groups, international businesses, and insolvency specialists.
The Business Bank Account is for smaller businesses with a turnover of less than £2 million a year. It offers personal support from a business manager, accounting software integration, and currently a year’s free access to Enterprise Nation. There is currently no monthly fee for using the account if your balance remains over £6,000. If it doesn’t, you’ll be charged.
If your turnover is over £2 million a year, you may need to consider a Commercial Current Account, which gives you access to a relationship manager, sector expertise and working capital options. There is currently no monthly fee for this account.
The Foreign Currency Account is available. It currently allows you to trade in popular currencies and manage your account from your phone. Fees and charges are dependent on which currency you use.
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How do I open a Metro Bank Business Account?
If you’re a small business, you can open a Business Bank Account by applying online.
You’ll be asked a few questions about your business so Metro Bank can find the right option for you. You’ll need an email address and phone number, a photo ID, and a device with a camera to take a selfie for your account. Metro Bank says the whole process on average can take around 21 minutes.
You can also go into a Metro Bank branch to open a business bank account. The in-branch Local Business Manager could set up your account and print out a bank card for you same-day. You should take all necessary documents with you to help make the process as quick as possible.
In order to open a Commercial account, you’ll need to go into a store with relevant documents and proof of address.
What features does the Metro Bank Business Account offer customers?
Metro Bank business accounts offer a range of features that make it easy for business customers to bank however and whenever they want, including:
- A Metro Bank debit card
- A Metro Bank credit card
- Xero integration with your Metro Bank account to automate bookkeeping, send invoices, and create expenses claims (fees apply)
- Access to tailored business support from dedicated sector teams, including in healthcare, hospitality, property, and charity
- Banks open seven days a week
- Access to banking services remotely through the app, online, or over the phone
- A year’s free access to Enterprise Nation, a network for business support
- Variety of flexible borrowing options available, including business loans, overdrafts, invoice finance, and asset finance
What do other Metro Bank Business Account reviews say?
The Metro Bank app has received positive reviews from its customers on a number of review sites.
- App Store: 4.8 out of 5, based on over 141,000 reviews
- Google Play: 4.6 out of 5, based on over 34,000 reviews
On TrustPilot, Metro Bank has 2.4 out of 5, based on over 3,800 reviews. It’s worth noting that this includes reviews of all Metro Bank services, not just business banking.
This information is correct as of 10 October 2022.
Metro Bank has a range of accounts, services, and finance options available to support smaller and larger businesses.
Whether your turnover is more or less than £2 million, your Metro Bank Account gives you access to in-branch, online, app-based, and telephone services seven days a week, which may be convenient for those who struggle to get to the bank during working hours.
It also supports businesses that trade internationally in popular currencies, and makes it easy to manage bookkeeping through direct integration with Xero accounting software.
Just be aware that, if you’re a Business Bank Account holder, you’ll be charged a fee per month if you don’t manage to keep your balance over a certain amount, currently £6000, and there are fees for using most banking services.
Metro Bank Business Account FAQs
Is the Metro business account free?
The Metro Business Bank Account doesn’t currently charge a monthly fee unless your bank balance drops below £6,000. After that, you’ll be chargedThe Commercial Current Account doesn’t currently charge a monthly fee.
What documents do I need to open a Metro Business Account?
To open a Metro Business account you’ll need proof of identity and proof of address, which must have your name and current address on it.
How long does it take to open a business account with Metro Bank?
On average Metro Bank says it can take around 21 minutes to open a Metro Bank Business Bank Account online.
Is there a Metro Bank business online app?
Yes, the Metro Bank business online app is available to download from the App Store and Google Play. It allows you to manage your finances, manage your cards, and access personalised reports on your finances while on the move.
Can I get a Metro Bank Business Account?
Yes, you can get a Metro Bank Business Account by applying online. You just need an email address, a mobile number, a photo ID, and a device with a camera to take a selfie.
It’s also possible to open an account in-branch, and you could receive a debit card the same day.
Is there a Metro Bank business credit card?
Yes, Metro Bank’s business credit card is available.
Is it worth having a business bank account?
If you run a limited company, it’s essential that you have a business bank account to separate your business finances from your personal funds.
Sole traders may also find it helpful to have a separate business account.
Henry is passionate about helping individuals and businesses stay informed. Over the last 8 years, he’s written for startup and small business sites, with a focus on finance, insurance, and websites. Read more
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