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