How to Open Metro Bank Business Account

Metro offers a few different types of business account, including a Metro Business Bank Account tailored to start-ups, sole traders and limited companies with an annual turnover of less than £2m.

Other accounts in the mix include a Commercial Current Account for larger businesses, and a Foreign Currency Account for businesses with international partners – but in this article, we’ll be focusing on the standard Metro Business Bank Account.

We’ll review the key features of a Metro business account, the plus (and minus) points you need to know about, and see how it fares against one of ANNA’s most popular business banking plans.

And hopefully, in about *checks watch* 10 minutes’ time, you’ll be a lot more clued-up about how Metro’s business account compares to ANNA’s plans…

What types of business bank accounts are available at Metro bank?

Metro bank currently offers three main types of business bank account, aimed at small businesses, larger commercial businesses, and community concerns. There is also a Foreign Currency Account for those who regularly send and receive payments in foreign currencies, and an Insolvency Practitioner Account, for… well, insolvency practitioners. These, though, are the main accounts on offer.

Metro Business Bank Account

This account is aimed at small businesses, and is suitable for start-ups, sole traders and limited companies with a turnover of under £2m. With no monthly account fee if your balance keeps its head above water to the tune of £6,000 (or £8 per month if your balance is lower), this type of account also comes with a business overdraft facility and a dedicated Local Business Manager to help your small business grow.

Metro Commercial Current Account

If your business is a relative behemoth with a turnover of £2m+, it might be better suited to a Metro Commercial Current Account. This type of account comes with no monthly fee attached, and includes a Relationship Manager and specialist sector advice to meet your more complex, big-business needs.

Metro Community Current Account

An account designed for clubs, societies and charities, the Metro Community Account helps customers keep on top of community-led finances and comes with no monthly fees attached. Benefits include 200 fee-free transactions a month and, endearingly, free giant cheques for prize or charity donations. This type of account is particularly handy for TSB customers who wish to open a community account, as TSB’s Club, Charity and Society Account is no longer available.

Metro business account review: Key Features

With an eye on Metro’s flagship Business Bank Account, let’s review some of the key features you can expect from this type of account.

Local business managers

If you’re based within reach of a Metro branch, you can take advantage of appointment-free support from business managers who are ready and waiting to help you with your banking.

Free services

As long as you keep your balance in the black to the tune of £6,000, you won’t pay a monthly account fee, and you can also make the most of 30 free UK-based transactions a month. (By comparison, ANNA’s Pay As You Go plan is free whatever your balance, and offers a variety of always-fee-free transactions).

Access to accounting tools

A Metro Business Bank Account comes with a few handy tools, including Invoice It, an app that helps you get paid quickly and securely (particularly handy if you’re a sole trader), the ability to capture receipts and upload them to the Metro Bank app, and integration with Xero’s accounting software.

Metro Business Bank Account pros & cons

Pros

• Currently (like ANNA) Metro business accounts are open to new customers, while several banks, including Santander and TSB, are only accepting applications from existing customers.
• Account holders with access to one of Metro’s branches across England and Wales can take advantage of in-person service and access to a Local Business Manager.
• A Metro Business Bank Account includes 30 free UK transactions – including cheque deposits, ATM withdrawals and Direct Debits – per month, providing your balance stays above £6,000.
• You won’t be charged a monthly fee (again, this is as long as your balance remains above £6,000).
• Business tools for account holders can help make your accounting run that bit more smoothly.
• A Business Credit Card is available, and account holders can also apply for an overdraft of up to £60,000.
• Business Online Banking is available to help you keep track of your business’s cash flow, and starts from £0 a month.
• Your money is FSCS-protected to the tune of up to £85,000.

Cons

• If your balance slips below £6,000, you’ll be charged £8 a month for your account.
• Unless your balance is over £6,000, you’ll pay 30p per transaction for everyday services such as withdrawing cash from an ATM. This charge also applies after your first 30 transactions per month.
• Metro Bank doesn’t have any branches in Northern Ireland or Scotland, and has relatively few (76) across England and Wales.
• Like many banks, including Co-operative Bank and Santander, support isn’t always-on – the contact centre’s opening hours are Monday to Friday from 9am to 6pm. If you want 24/7, UK-based, award-winning support for your business, you’re better off with ANNA.
• Unless you can access a branch, it can take a while for your Metro Business Bank Account to go live – switching accounts from another bank takes up to seven days. By contrast, an ANNA application typically takes around ten minutes, and will usually be approved within a few moments of completion.
  

What are the requirements to open a Metro Business Account?

You can open a Metro Business bank Account if:

• You’re aged 18 or over.
• Your business’s turnover / annual balance sheet isn’t over £2m a year.
• You’re a sole trader, limited company, limited guarantee, or limited-liability partnership.
• Your business is owned by individuals – parent companies aren’t eligible.

If you’re the sole trader or signatory, you need to be a UK resident. In cases where there’s more than one signatory, director or owner attached to your Metro business account, at least half of them must be based in the UK.

What documents do I need to provide to open a Metro Business Account?

You’ll need to collect together a few documents before you apply for a Metro Bank business account. First things first, you’ll need proof of ID, like a valid passport or a full UK driving licence.

You’ll also need to provide two proofs of address. Accepted documents include valid photocard driving licenses, council tax bills, a credit card statement from the last three months (with your name on it, not the name of your business) or documents from HMRC.

All types of business will also need to supply documents to confirm the business owner or business’s name, its trading name, and/or the business’s trading address. These could include a business bank statement or utility bill from the last three months.

How much does a Metro Business Account cost?

Here’s a review of some of the key Metro business account fees you need to know about.

Metro monthly account fees

As long as your balance stays above £6,000, there’s no monthly fee for your Metro Business Bank Account. If it dips below £6,000, you’ll pay £8 a month.

Metro international payment fees

International payments using SWIFT cost £25, while SEPA (electronic payments in Euros) costs 20p per transaction.

Metro local transfers in and out

Standard local payments – including BACS, debit card payments, Direct Debits and Faster Payments – cost 30p each in a month when your balance is less than £6,000. If you have over £6,000 in your account, you can enjoy 30 free transactions of this type per month.

Same-day CHAPS payments cost £25.

Metro pay cash in deposit

Depositing, withdrawing or exchanging cash in-branch costs 1% of the total amount.

Metro ATM withdrawals

ATM withdrawals come under the same umbrella as other local transfers: you’ll pay 30p per withdrawal if your balance is under £6,000, and if it’s over that, you can make 30 ATM withdrawals (or other local transfers) for free each month before having to pay.

Can you pay a cheque in an online Metro business?

UK cheque deposits into your Metro Bank business account cost the same as ATM withdrawals, depending on your account balance. Cheque deposits in USD cost £10 per cheque up to $6,500, and £20 for above $6,500, while cheque deposits in EUR cost £10 per cheque up to €5,500, and £20 if you’re depositing a cheque worth more than that.

Metro vs ANNA Fees

We’ve summarised the cheapest fees for ANNA and Metro in the table below.

Metro bank vs ANNA fees comparison

How to apply for a Metro Business Account

You can apply for a Metro Bank UK business account either in-branch or online. If you head in-store with your documents in hand (see ‘What documents do I need to provide to open a Metro Business Account?’) most customers can expect their account to be opened on the same day. You can also request a callback to make an appointment.

If you apply online and your business has multiple directors, you’ll each be given a unique code to complete your part of the application.

Metro Business Account customer reviews

February 2025 saw the results of an independent survey into business current accounts being released. The survey reviewed 16 of the largest providers, and ranked them from 1 to 16.

These results revealed that of 1,200 Metro Bank business account customers, 65% would recommend Metro to other SMEs, while 68% would recommend its online and mobile banking services.

TrustPilot (which accepts reviews from all customers, not just business ones) tells a slightly different story: here, Metro has a ‘poor’, rating of 1.8 across around 5,300 reviews, while ANNA receives a ‘great’ 4.2 rating based on over 3,900 reviews.

One of the biggest bugbears reported by customers is problems contacting the bank and issues with customer service – in stark contrast to ANNA’s award-winning, 24/7 support, which is based in Cardiff.

On Reviews.io, only 12% of reviewers would recommend Metro, with a 1.5 rating based on around 220 reviews.

Metro vs ANNA – a case study

So you can make a more informed choice, we’ve created a case study that tells you in black and white (and a dash of ANNA’s trademark terracotta orange) how Metro’s Business Bank Account and ANNA’s Big Business Plan measure up against each other.

In this scenario, you’ve got a healthy bank balance that’s comfortably over £6,000, and you don’t expect to dip below that amount during your average month.

You’ve also identified some of the most common monthly transactions you need to make so your business can run efficiently:

• 4 SWIFT payments of £1,000 each.
• 2 same-day CHAPS payments of £10,000 each.
• 10 ATM cash withdrawals of £50 each.
• 6 cash deposits of £2,000 each.

A Metro Business Bank Account with a balance of over £6,000 would incur the following fees:

• SWIFT payments: £100 (£25 per transaction)
• CHAPS payments: £50 (£25 per transfer)
• ATM withdrawals: £0
• Cash deposits £120 (1% per deposit)
• Standard monthly account fees: £0
• Total Metro Business Bank Account fees: £270

Meanwhile, an ANNA Big Business plan would involve the following:

• International payments: £0 (4 free SWIFT payments per month)
• CHAPS payments £0 (unlimited free CHAPS payments)
• ATM withdrawals: £0 (unlimited free ATM withdrawals)
• Cash deposits: £0 (pay cash into your account commission-free)
• Monthly account fees: £49.90 +VAT
• Total ANNA Big Business plan fees: £49.90+VAT (which you can claim back if you’re VAT registered).

Metro vs ANNA – in summary

Metro’s £0 monthly fees and 30 free transactions per month if your account remains in the black to the tune of £6,000 make it an attractive prospect for small businesses that don’t make larger transactions. But our case study reveals that if you’re a limited company or sole trader that makes regular international and cash deposits, the costs can quickly add up.

If your balance dips below £6,000, you could also get stung by extra charges without realising it, including an £8 per month account fee, and 30p each for simple transactions such as ATM withdrawals and bill payments. So if you’re a start-up, you might be better off with an ANNA business account for start-ups.

Meanwhile, ANNA’s Big Business Plan might have a monthly fee attached, but it also comes with plenty of free transactions, including unlimited CHAPS payments and unlimited local bank transfers.

When you need to speak to someone, stat, Metro’s weekdays-only customer service doesn’t quite cut the mustard compared with ANNA’s 24/7, all-singing, all-dancing (and all-human) support.

You can apply for an ANNA business account online, and be up and running within ten minutes – there’s no need to leave the comfort of your sofa if you want a business bank account set up fast. And while Metro offers a few helpful accounting tools, ANNA’s +Taxes add-on can actually sort out your corporation tax and VAT if you’re a limited company. Which is one less (pretty boring) job to worry about.

Summary table

Compare the ANNA Big Business Plan and Metro Business Bank Account at a glance.

ANNA vs Metro bank summary table

Sources:

• Metro Bank Annual Report
• Metro Service Quality
• Metro Business Bank Account Pricing
• TrustPilot