Overview
Mettle, at a glance.
Mettle is a bank headquartered in the United Kingdom, regulated by PRA. The business account has no monthly fee. Opening an account takes 3–5 days.
Mettle is a trading name of National Westminster Bank plc. Eligible deposits are protected by the Financial Services Compensation Scheme up to £120,000.
Why businesses pick Mettle
- No monthly fee and no opening fee
- Run by NatWest, with FSCS protection up to £120,000
- Invoicing, tax pots and accounting-software links in the app
- Receives payments from abroad in 30 currencies
- Trustpilot score of 4.6 from more than 6,000 reviews
Watch out for
- Only for UK-resident sole traders and limited companies registered and trading in the UK
- Owners must be UK tax resident only, and not a US person
- No payments out in other currencies: international payments can only be received
- Receiving a payment from abroad costs £4, plus 1.5% if it is converted to pounds
- Limited companies with more than two owners, LLPs, charities and some industries are not accepted
Business fit
Will Mettle accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Mettle's published rules
Likely fit
Mettle lists both United Kingdom companies and Startups and SMEs as accepted.
Mettle does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Mettle publishes about the businesses it takes on.
Who Mettle serves
- Startups and SMEs
- Freelancers
- Professional services
- E-commerce
Not supported
Industries and countries Mettle does not accept, from its own published lists.
Industries
- Alcohol and tobacco manufacturing
- Adult entertainment or services
- Distilleries
- Armaments and defence
- Gambling
- Pharmaceutical companies
- Some manufacturers (including manufacturers of rubber products, manufacturers of medical, dental or veterinary equipment, and others)
- Embassies and consulates
- Trust and company service providers – eg involvement in the formation of other companies
- Money Service Businesses (MSB) – eg foreign exchange
- Virtual currency or cryptocurrency
- Freight shipping
Countries
- Not published
Coverage
Where can you use Mettle?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
GBP
Receives payments in 30 currencies and converts them to GBP.
Payment reach
Not published
Who can apply
Company incorporation countries1 countries · show list
- United Kingdom
Owner nationality
Not publishedOwner residency1 countries · show list
- United Kingdom
Company types
Sole traders, Limited companies
Pricing
What does Mettle cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
£0–4
depends on plan
Mettle
Lowest cost£0 per month
£0 setup · £0 in year one
Mettle+
£4 per month
£0 setup · £48 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| Faster Payments (GBP) | Free | No charge |
| SWIFT / international | £4 | Fixed fee · On payments over £10, plus 1.5% if converted to pounds |
| Outgoing | ||
| Faster Payments (GBP) | Free | No charge |
| SWIFT / international | Not offered | Not available |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | 1.5% | Percentage of the amount · On incoming foreign-currency payments, converted to GBP |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| ATM withdrawal | £1 | Fixed fee · Per cash withdrawal |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is Mettle a bank?
Mettle is a trading name of National Westminster Bank plc, which is authorised by the Prudential Regulation Authority and regulated by the FCA, reference 121878. Eligible deposits are protected by the FSCS up to £120,000.
How much does Mettle cost?
The account has no monthly fee and no opening fee. Mettle+ is an optional £4 a month. A payment from abroad over £10 costs £4, plus 1.5% if it has to be converted into pounds.
Who can open a Mettle account?
UK-resident sole traders and limited companies registered and trading in the UK. The applicant must be a UK tax resident only, and a limited company needs one or two individual owners, one of whom opens the account as a director.
Which businesses does Mettle not accept?
Its list includes alcohol and tobacco manufacturing, adult entertainment, armaments and defence, gambling, pharmaceuticals, trust and company service providers, money service businesses, crypto and freight shipping.
Alternatives
How Mettle compares.
If Mettle is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 MettleThis pageBank |  | Free accountDeposit protection |
| Starling BankBank | | Free accountDeposit protection |
 Monzo BusinessBank |  | Free planDeposit protection |
 TideE-money institution | | Free planNon-residents accepted |
 Zempler BankBank | | Free planDeposit protection |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.