Metro Bank Business Account Overview

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.

» COMPARE: Business bank accounts

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.

» MORE: How to open a business bank account in the UK

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.

Conclusion

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

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