Mettle Business Bank Accounts
- A digital business account by NatWest
- Designed for small businesses and sole traders
- Provided by Prepay Solutions
Mettle Business Bank Account FAQ
Who is Mettle?
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.
What features does a Mettle business account offer?
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.
Who can apply for a Mettle business account?
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.
How do I apply for a Mettle business account?
You can apply for a Mettle business account by selecting their product from our comparison table. You will be taken to their site where you can start your application, giving further details on you and your business. To open an account, you will also need to show some form of ID, such as a passport or a driving licence.
Is a Mettle account the same as a NatWest account?
No, it’s not. Although Mettle was launched by NatWest, Mettle is a standalone account that operates completely separately to the high-street bank.
Can Mettle be my main business bank account?
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.
Does a Mettle business account have any fees or limits?
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.
Is Mettle a bank?
No, Mettle is a digital business account. It is not a bank so it doesn’t offer credit facilities or other services.
Can Mettle provide my business with credit?
No, because Mettle is an e-money account and not a bank, they do not offer any credit functions such as overdrafts or loans.
Is a Mettle business account safe?
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.
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