Mettle Business Bank Accounts

Mettle is an e-money business bank account by NatWest that is provided by Prepay Solutions (PPS), a trading name of Prepay Technologies. Work on the digital banking app started back in 2017 and it officially launched to customers in Autumn 2019, with the aim of helping small business owners to manage their finances more effectively.

A Mettle business account comes with the features and services you would expect from a digital banking app. For example, you can schedule payments, set up direct debits, receive payments, create and send customised invoices, add copies of receipts, categorise transactions, set up payment notifications, and get an overview of your cash flow. Mettle can also integrate with some accounting software to help business owners with their bookkeeping.

All Mettle accounts come with a prepaid Mastercard, which you can lock and unlock directly from the app.

Mettle accounts are available to UK-based small businesses and sole traders, including freelancers and contractors.

At the time of writing, to be eligible for a Mettle business account, limited companies should have up to two owners and a balance of less than £100,000, while sole traders should have a balance of less than £50,000.

No, it’s not. Although Mettle was launched by NatWest, Mettle is a standalone account that operates completely separately to the high-street bank.

Yes. You can choose to use your Mettle account to manage all of your business finances or, alternatively, you can use it alongside another bank account.

At the moment, Mettle business accounts are free and don’t come with any added costs. However, there are certain limits on the balance you can have in your account, as well as limits on card transactions and cash withdrawals.

No, Mettle is a digital business account. It is not a bank so it doesn’t offer credit facilities or other services.

No, because Mettle is an e-money account and not a bank, they do not offer any credit functions such as overdrafts or loans.

Because Mettle is not a bank, your deposits are not protected by the Financial Services Compensation Scheme (FSCS). However, Mettle complies with all the FCA safeguarding requirements and places customer funds into a separate client account, which will be protected from creditors should Mettle go into administration.