In this guide

  • Our verdict
  • Details
    • Product overview
    • Fees
    • Overdraft information
  • Frequently asked questions
  • Your reviews

Metro Bank Private Bank Account review

  • Avatar
Current Account
4.1
★★★★★
Finder score
Account fee
£0
Interest (AER)
0% AER
Overseas card transactions
Europe: 0%
Elsewhere: 2.99%
Representative example
If you use an arranged overdraft of £1,200, you'll be charged interest at 34% EAR variable.

Our verdict

If you’re looking for a more exclusive banking service, find out whether the Metro Bank Private Bank Account is right for you.

If you're looking for a private bank account with exclusive benefits and a personalised customer experience with a dedicated relationship manager, Metro Bank's Private Bank Account is worth considering. Offering fee-free card transactions in Europe, as well as the option of going in-branch if you need to, the account has a lot to offer.

However, thanks to its exclusive nature, eligibility requirements are strict, so if you don't meet the criteria you'll need to look elsewhere. Visit Metro Bank's website to apply or compare other Metro Bank accounts here.

In this guide

  • Our verdict
  • Details
    • Product overview
    • Fees
    • Overdraft information
  • Frequently asked questions
  • Your reviews

Founded in 2010, Metro Bank was the first high street bank to open its doors in the UK in more than 100 years. Despite being a challenger bank, Metro Bank is not digital-only and has branches that remain open seven days a week, often from 8.30am to 6pm.

Metro Bank offers a range of personal and business accounts, including private banking.

Details

Product overview

Account name Current Account
Provider Metro Bank
Account fee £0
ATM withdrawal limit £300
Debit network Mastercard
Card type Cash / Debit
Minimum eligibility age 18 Years
Minimum operating balance £0
Minimum opening balance £0
Direct debits
Current account switch guarantee
Cheque Book

Fees

Foreign cash currency fee in Europe 0%
Foreign cash currency fee in rest of world 2.99%
Foreign cash transaction fee in Europe £0
Foreign cash transaction fee in rest of world £1.50

Overdraft information

Arranged overdraft available
Arranged overdraft rate 34%
Overdraft Grace Period 14:00 same day
Representative example If you use an arranged overdraft of £1,200, you'll be charged interest at 34% EAR variable.

What is the Metro Bank Private Bank Account?

The Metro Bank Private Bank Account works in the same way as a standard bank account, but it’s far more exclusive. As well as providing a dedicated Private Banking Director to take care of you and your finances, you’ll also have support from a specialist team to provide tailored products and services.

The account can be managed in branch, online, and via mobile app and comes with a black Metro Bank Mastercard debit card.

How does it work?

The Metro Bank Private Bank Account offers the following key features:

  • Free card transactions in Europe. There are no card transaction fees in the Single European payments Area (SEPA). Outside the SEPA, you’ll pay 2.99%, plus a further £1.50 if withdrawing cash.
  • Round-the-clock service. With support from a Private Banking Director and expert team.
  • Flexible overdrafts. Option to request an arranged overdraft if you wish. Decisions and interest rates will be based on your personal circumstances.
  • Special events. Regular invitations to networking events designed to help enhance your social and business circles.
  • Personal touch. Metro Bank will also collaborate with your other financial advisers, accountants and lawyers to ensure your finances are working hard for you.

Who is it for?

The Metro Bank Private Bank Account is designed for professionals or entrepreneurs who are looking for a personal manager for their finances through one point of contact. To qualify you must have at least £1 million of assets or borrowings with the bank, which can include a mortgage.

What are the benefits?

If you’re looking for a bank account that provides a dedicated relationship manager, round-the-clock customer support, longer branch opening hours and fee-free European card transactions, Metro Bank’s Private Bank Account ticks all of these boxes.

How to apply

To open a Private Bank Account, you’ll need to either call Metro Bank on 0203 402 8101 or email privatebankingreferrals@metrobank.plc.uk.

Pros and cons of the account

Pros

  • Personal service, with your own dedicated banking director
  • Access to exclusive networking events
  • Flexible overdrafts
  • Free card transactions in Europe
  • No monthly fee

Cons

  • You’ll need at least £1 million of assets or borrowings to qualify
  • No interest paid on in-credit balances
  • Fees for using card outside Europe

Banking scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

To find out more, read our full methodology.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

Frequently asked questions

Your reviews

No reviews yet. Write a review
Go to site