Metro Bank offers a business account that is suitable for small to medium businesses and tailored business accounts for larger businesses. Below we look at reviews for the company along with the accounts they offer, how much they cost and other key things you need to know to help you decide which business bank account provider is right for your business.
Metro Bank Reviews
Below we look at reviews for Metro Bank from a variety of websites. Please keep in mind that these reviews are for all of Metro Bank’s services and so may not fully reflect their business offerings.
- Trustpilot: 3.2 of 5 based on 2,942 reviews.
- Review Centre: 1.7 out of 5 based on 88 reviews.
- Reviews.co.uk: 2.8 out of 5 based on 15 reviews.
Metro Bank Business Services Plans, Packages & Prices
Metro Bank offers a single business current account that includes:
- Online and mobile banking
- Network of local stores predominantly in south centring around London with some stores further out and in the midlands and north-west
- UK contact centre
- Access to local Business Manager
- No monthly fee if balance says above £5,000
- You can also apply for an overdraft and credit card
- Integrates with Xero accounting software
There are a wide range of charges on their business bank account which includes:
- No account fee if balance is over £5,000, £5 per month if not
- 50 free transactions per month if balance is over £5,000, subsequent fees or fees if balance is below £5,000 is £0.30
- No debit card charges in Europe for purchases or withdrawals
- Debit charges outside Europe 2.99% and cash withdrawals also have an additional charge of £1.50
Note plans, packages and prices were all accurate at the time of publication (April 2021) but may have changed since then. Please check Metro Bank’s website for the latest information.
Metro Bank Background
Metro Bank was founded in 2010 when they first open the doors of their high street bank which was the first new high street bank to open in the UK in over 100 years. They designed their bank to be simple and customer focus by offering products that were easy to understand and pricing that was simple and transparent.
Metro Bank operates differently from its traditional counterparts that operate only during business hours on weekdays, as they are open seven days a week for up to 12 hours a day and they allow customers and prospective customers to walk in without an appointment to get an account or new service from them straightaway.
Metro Bank also supports their local communities by hosting charity and business networking events in their stores as well as supporting charities causes and fundraising. They also offer bank accounts to children to help them with budgeting with their financial education programme.
Switching To Metro Bank
You can apply for an account online through their website on either a computer or mobile with Metro Bank and they can get your account up and running in 15 minutes. Businesses that have a more complex need can apply in-store with their business team.
You will need to prove your ID and your address for all signatories and nominated persons/responsible individuals/officials.
Additional Business Services From Metro Bank
Metro Bank offers a range of other business products which includes:
- Deposit account
- Commercial loans
- Invoice finance
- Asset finance
- Credit cards
- Insurance with Churchill Expert
Metro Bank Business Service Availability
Metro Bank’s business bank account is available to business owners that are over 18 years old and have a turnover of under £2 million per year. Sole traders and sole signatory businesses must reside in the UK and multiple signatories/directors must have a minimum of 50% of signatories/directors residing in the UK.
Other services such as overdrafts and credit cards will be subject to application and checks.
Metro Bank Business Customer Service and Complaints
You can contact the Metro Bank customer service team on 0345 080 8508 on Monday-Friday 7am-10pm, Saturday 8am-8pm and Sunday 8am-6.30pm.
Metro Bank Business Contact
You can get in contact with Metro Bank by:
- Call 0345 080 8508 (Monday-Friday 7am-10pm, Saturday 8am-8pm and Sunday 8am-6.30pm)
- In-store seven days a week (Monday-Friday 8am-8pm, Saturday 8am-6pm and Sunday 11am-5pm)
- Post – One Southampton Row, London WC1B 5HA
Metro Bank Business Services Pros/Cons
- Online and mobile account management
- UK based contact centre open evenings and weekends
- Stores open evenings and weekends
- Local Business Managers
- Simple pricing and the opportunity to have no monthly account fee
- Integrates with Xero
- Reviews are fairly rated but not particularly positive overall
- Stores are largely southern-based and centred around London not nationwide
- Labelling as no account fee can be misleading as it only applies if the account balance remains above £5,000