Business Bank Account

Our easy-to-use straightforward business current account.

Important Information Summary
Account features This document summarises the important features of the Business Bank
Day-to-day support for your business, whenever you Account. It should be read carefully together with our 'Terms and
need it Conditions' (Our Service Relationship with Business Customers
document), before you apply for the account. If there is anything you do
• Local Business Manager as a key point of contact, not understand, please ask any Metro Bank staff member. These
but all colleagues can support you with day-to-day details are correct as of 18 May 2017. If these details have changed by
banking the time you apply for the account, we will provide you with the current
Important Information Summary for this account.
• Store opening 7 days a week, early and late
• 24/7 UK based Business Customer Service Team
• Simple pricing
• Easy to use online banking
• Access to a range of services to support you and
your business, including enhanced internet banking -
please ask us for details

FEES AND CHARGES

The Business Bank Account is subject to
• a monthly maintenance fee of £5 per month
• transaction charges
• standard ad-hoc service charges.
Monthly balance reward
If your Business Bank Account balance stays above £5,000 for any whole month (or partial month in the month the account is opened), for that month
we’ll waive the monthly maintenance fee and give you 50 free transactions. If your balance falls below £5,000 at the close of business on any day,
standard pricing will apply for that month. Please note, the £5,000 balance requirement needs to be cleared funds within the account - please ask your
Relationship Manager for more details.

Transaction type Fee Fee

In a month where your balance In a month where your balance
falls below £5,000 remains greater than £5,000

Account Fee £5 £0

Transfers between your Metro Business Bank accounts FREE FREE

ATM withdrawals
Automated credits
Bill payments (store and internet)
Cheque payments Any combination of
these transactions
Cheques deposited £0.30 each
up to 50 in total free
Debit Card payments per month, £0.30 each
thereafter.
Direct Debits
Faster payments
Standing Orders

Cash paid in / out or exchanged 0.50% 0.50%

International payment: SWIFT £25 £25

International payment: SEPA £10 £10

Same day UK CHAPS payments £25 £25

Transaction charges are applied from the day you open your account, will appear on your next statement and require payment within 28 days. The monthly maintenance fee
period runs from the first to the last day of every month. If you join partway through a month, we'll start this on the following first day of the month. The monthly maintenance
fee will appear in your next statement, and will require payment within 28 days.

Monday - Friday: 8am - 8pm • Saturday: 8am - 6pm • Sunday: 11am - 5pm
Local Call Centre: 0345 08 08 500 • metrobankonline.co.uk • MetroBank_Help
pg 1

Metro Bank PLC is registered in England and Wales, company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. We are authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ is the registered trade mark of Metro Bank PLC. 264 IIS S4676 (05/17)
Business Bank Account Important Information Summary (continued)

USING YOUR DEBIT CARD ABROAD

The following fees will apply when using your debit card abroad.

Location†† Card purchase Cash withdrawal

In Europe †
Free Free
Outside Europe 2.50% non-sterling transaction fee††† 2.50% non-sterling transaction fee +
£1.50 non-sterling purchase fee†††

††
These charges are applied on the day the transaction appears on your account. Location refers to location of the Merchant/ATM or the location of the company
operating the website in case of internet transactions.
†
Europe refers to the countries listed below.

Austria Estonia Ireland Monaco Slovakia

Belgium Finland Italy Netherlands Slovenia
Bulgaria France Latvia Norway Spain
Croatia Germany Liechtenstein Poland Sweden
Cyprus Greece Lithuania Portugal Switzerland
Czech Republic Hungary Luxembourg Romania United Kingdom
Denmark Iceland Malta San Marino
Additional charges may be applied by overseas ATM providers. However, there should always be a warning on the screen before they do so, giving you the option to cancel
the transaction.
†††
The current rate of 2.50% will change to 2.75% on 23 August 2017

SERVICE CHARGES
Service Charge
Certificate of interest paid: we will certify the amount of debit interest paid by you No charge
Monthly cash sweep service (daily and weekly transfers are subject to the charges set out below) No charge

Set-up and on-going use of Business online banking No charge

Statements which are issued monthly or less frequently No charge

Stopping a cheque as a result of theft or loss of a cheque book (or part thereof) No charge
Auditor's Certificate of Balance: A letter written by Metro Bank to your accountant
certifying details of your account balance as at a certain date £25.00 (+VAT)

Auditor's Request for Bank Report: This is a more detailed enquiry than a certificate of balance. Variable Rate:
The amount charged will reflect the time taken due to depth and complexity of the questions asked Minimum of £25.00 (+VAT)
Automatic Sweep Facility (charged monthly):
Daily Sweep £25.00 per month
Weekly Sweep £5.00 per month

Duplicate statements £5 per statement

Cheques returned to you unpaid: Sterling cheques you have paid in which are returned
£2.00 per cheque
to us unpaid by the payer's bank

Issuing a banker's cheque £15.00 per cheque

Recalled BACS / Standing Order payments £5.00

Stopping a cheque £10.00 per cheque

Stopping payment on a banker’s cheque and/or replacing or refunding the amount of the £10.00 per cheque
cheque

Monday - Friday: 8am - 8pm • Saturday: 8am - 6pm • Sunday: 11am - 5pm
Local Call Centre: 0345 08 08 500 • metrobankonline.co.uk • MetroBank_Help
pg 2

Metro Bank PLC is registered in England and Wales, company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. We are authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ is the registered trade mark of Metro Bank PLC. 264 IIS S4676 (05/17)
Business Bank Account Important Information Summary (continued)

OVERDRAFT CHARGES
Unpaid Item Charge £25.00
Paid Item Charge £15.00

Debit Interest on an Agreed Overdraft 10% EAR* Fixed

Debit Interest on an Instant Overdraft 25% EAR* typical (variable)

Instant overdraft is created when your account goes overdrawn without prior agreement from us.
An unpaid Item Charge is incurred when there are insufficient funds in your account to cover a cheque, direct debit or standing order payment and
we have to return this item unpaid.
A paid item charge is incurred when a cheque, standing order or direct debit is deducted from your account and creates an instant overdraft.
An instant overdraft is created when a deduction or withdrawal from your account can’t be met from the balance in your account or within an
existing agreed overdraft.
The Arrangement Fee for a business overdraft is 1.75% of the agreed facility (minimum arrangement fee is £50.00)

THINGS YOU SHOULD CONSIDER

• In order to open and maintain a Metro Bank Business account you need to:
(a) be aged 18 or over
(b) have a turnover and/or annual balance sheet total that does not exceed £2 million.

• If you are a sole trader/sole signatory you need to reside in the UK to open this account. If there is more than one signatory/Director/
beneficial owner associated with the account at least 50% must reside in the UK.

• Our Business Bank Account is a day-to-day current account with the facility to pay bills and make payments (CHAPS, faster payments,
international payments, standing orders, direct debits and internal transfers). We are not currently able to set up direct debits which collect
payments from others to be credited to your account. We will notify you as soon as we are able to provide this service.

• No credit interest is paid on this account.

• A credit check will be undertaken with a credit reference agency when you apply for a current account and/or overdraft facility and we may
seek information about the business entity through a credit reference agency as well.

• Overdrafts are subject to status and repayable on demand, terms and conditions are available on request. Please speak to your Relationship
Manager to discuss a specific lending requirement.

• We may change any of the rates (other than a fixed rate of interest) and charges set out in this Important Information Summary, and
introduce new charges, under the Terms and Conditions.

We will give you at least 14 days’ notice if we are going to deduct a charge from your account. We will tell you the amount we will deduct and when it will
be deducted.
Details of our current interest rates, charges and charging dates are also available on our website metrobankonline.co.uk or you can contact us
on 0345 08 08 500.

*EAR stands for Effective Annual Rate, it illustrates what the interest rate on the overdraft would be if interest was charged and added to the amount owed once each year. It does not take into account
fees and charges.

Monday - Friday: 8am - 8pm • Saturday: 8am - 6pm • Sunday: 11am - 5pm
Local Call Centre: 0345 08 08 500 • metrobankonline.co.uk • MetroBank_Help
pg 3

Metro Bank PLC is registered in England and Wales, company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. We are authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ is the registered trade mark of Metro Bank PLC. 264 IIS S4676 (05/17)