As a small business owner, it’s important for you to have a separate bank account for your business. It makes it easier to organise your finances and monitor your cash flow in real time.
Mettle is the free business account by NatWest that gives people the financial confidence to turn their passion into opportunity. It’s built for contractors, freelancers and small businesses. Customers can apply for an account in minutes, create and send customised invoices and connect to accounting software to help keep track of their books – all from their phone or desktop. The account comes with a UK account number and sort code and funds up to £85,000 are protected by the FSCS.
Mettle includes easy-to-use bookkeeping and tax-related tools, as well as its unique integration with FreeAgent accounting software, offering all customers free access and savings of up to £150 a year.
How to access the offer
As an additional benefit of becoming a Mettle customer, you’ll be able to switch to a free FreeAgent account after opening a Mettle business account, whether you’re new to FreeAgent or already a customer.
Download the Mettle mobile app from either the iOS App Store or Google Play Store.
Go through the Mettle account application process. It should only take a few minutes to apply.
Ignore the invitation to set up a FreeAgent account when opening the Mettle account, as we will do this for you.
Let us know your account number and sort code once your Mettle account is open and we will set up your free FreeAgent account.
You can now earn interest on your savings pot balance, but not on the balance in regular pots or your main account balance. Mettle will pay 1.46% AER/ 1.45% Gross (Variable) on balances from £10 in the savings pot.
There are limits on your account balance. If you have a Mettle bank account your main account balance limit is £1 million for both sole traders and limited companies.
If you have a Mettle e-money account the limits are £50k for sole traders and £100k for limited companies.
If you reach your account limit, any payments into your account will be declined and you will need to transfer money out of your Mettle account before attempting the payment again.