Mettle by NatWest

Mettle business account review

Mettle is a spin-off venture from parent bank NatWest - find out more about what this business banking app has to offer small businesses.

4.4 ★★★★★ (31 reviews) Write a review
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No fees to join or manage your account
Currently not FSCS-protected
Mettle is the first standalone business banking app to be offered by one of the UK’s high street banks, in this case NatWest. Following a pilot phase, Mettle launched in November 2019, and is looking to rival the mobile app-based business accounts already offered by challenger banks. It won the Business Banking category in the Finder Customer Satisfaction Awards 2023, with 97% of customers saying they’d recommend it.
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Mettle by Natwest

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  • Apply in minutes for your free business account
  • Create, track and send invoices from your app
  • Seamlessly connect to accounting software such as Xero and FreeAgent
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What is Mettle?

Mettle is a standalone business banking app offered by (but separate to) its parent company, high street bank NatWest. It has been featured in our best business bank accounts guide, with a standout mention for accounting software integrations.

This digital business account can be seen as a response to the challenger banks which have changed the face of banking in the last few years – reeling in customers by letting them open and manage app-based business bank accounts through their mobile phones, as well as offering great exchange rates for people who travel frequently.

Mettle lets business customers apply for an account in minutes, forecast business performance and create invoices. All of this is possible in its mobile app, which is designed to be easy to use, as well as free to use.

How does Mettle work?

Mettle offers its users a number of features, including:

  • Fast application. Mettle will let customers open a business account in a matter of minutes.
  • Invoicing. You can create and send customised invoices on the go. The app will let you know when you’ve been paid or if you need to chase.
  • Reporting. You’re able to categorise business transactions and manage your expenses. You can then export your data and share it with your accountant.
  • Accounting. Mettle can connect to accounting packages like FreeAgent, Xero and QuickBooks.
  • Payments. You can schedule payments on the go and manage recurring payments directly from the app.
  • Money pots. Set money aside from your main account into a “money pot”, where you can ringfence funds for future outgoings like corporation tax or VAT.
  • Freeze or unfreeze your card. You can lock your card in the app if you think you’ve lost it, then just unlock it if the card shows up.
  • Apple Pay and Google Pay. You can add your Mettle card to these mobile payment wallets.

How to open a Mettle account

These are the steps to open a Mettle account:

  1. Download the Mettle app from the App Store or Google Play Store.
  2. Complete the application – Mettle will ask questions about you and your business.
  3. Verify your ID and provide a business document.
  4. Once approved, you’ll get an account number and sort code to get started.

Mettle’s fees and features

Mettle by NatWest
Product NameMettle by NatWest
Account feeFree
FSCS protected
UK ATM chargeFree
Account software integration
Accounting integrationsFreeAgent, Xero
Requires credit checkSoft search with no impact on credit score
Credit check
Credit check detailsSoft search with no impact on credit score
Key benefitsComes with a suite of free accounting software to integrate with
Overdraft
Freeze card from app or online banking
Interest rate0%
Current account switch guarantee

Doing business overseas with Mettle

Mettle by NatWest
Product NameMettle by NatWest
Overseas transaction chargeUnable to make international payments
Overseas ATM chargeN/A
International transfer chargeUse exchange rates set by Mastercard
Compare the fees of popular business bank accounts

Mettle fees, limits and pricing

  • Mettle is free to join – you won’t be charged to download the app or to open an account.
  • Mettle is free to use – there are no charges for transactions or for using any of the account’s features.
  • There is a maximum account balance of £100,000 for limited companies and £50,000 for sole traders.
  • There is a maximum payment out of the account limit of £10,000 per day.

Mettle customer reviews

In our independent 2023 Customer Satisfaction Awards, Mettle was our winner, with 5 out of 5 stars and 97% of users saying they would recommend the service. Survey respondents highlighted its easy integration with accounting software and user friendly functionality. Here’s what some of those Mettle customers had to say in our survey:

“Mettle is transparent and easy to use”

“They have always provided me with great support”

“They have been perfect for what I need – very helpful and easy to deal with at all times”

Mettle has an average rating of 4.9 out of 5 from over 16,000 reviews on the App Store. Over on Google Play, Mettle has a rating of 4.8 out of 5 from more than 5,400 ratings on the Google Play Store (March 2023).

Is Mettle safe?

Mettle is separate from NatWest and is not actually a bank, so it isn’t currently covered by the Financial Services Compensation Scheme (FSCS). The FSCS protects money you’ve deposited in a bank up to £85,000 if it goes bust – this does not apply to Mettle. However, as a provider of an e-money account, Mettle must ringfence customer funds, meaning they are still safeguarded should the company fail.

Mettle’s bank account

In January 2023, Mettle introduced a new bank account which is protected by the Financial Services Compensation Scheme (FSCS). This means eligible deposits are protected up to £85,000.

At the time of writing, it is only available in beta, so not widely available. Mettle is working on offering more features and services in the future, including features that existing customers already enjoy like Google and Apple Pay, Money Pots and cash deposits. Other features like FreeAgent integration, scheduled payments and upload receipts are already in place.

Pros and cons of Mettle

Pros

  • Instant and easy application process.
  • No fees to join or manage your account.
  • Can create and send customised invoices.
  • User-friendly app with expenses management and card control.
  • Integrates with accountancy software.
  • Freeze your card in the app if you lose it.

Cons

  • Currently not FSCS-protected.
  • Maximum daily payment out limit of £10,000.
  • Despite being part of NatWest, there is no branch banking for Mettle users.

Our verdict: Is a Mettle account worth it?

Mettle is an interesting digital play by parent company NatWest. But as it’s separate from the high street bank itself, unfortunately you can’t visit a NatWest branch to discuss your Mettle account. However, a digital-only business account with Mettle is free to open and use, and it has strong mobile banking features. It also comes with a useful invoicing system and the ability to integrate with accounting software like FreeAgent and Xero. Time will tell if it’s successful enough to take on similar business account offerings from the likes of challenger bank rivals Starling and Monzo.

Get started by visiting Mettle's website and sign up for an account. If you have read this review and decided that Mettle’s account is not for you, you can use our guide to compare other business bank accounts on the market. You can also read our review of NatWest’s own business accounts here.

“Digital-only business accounts have become more popular in the last few years – it’s not the case that you have to visit your local high street bank to open a business account any more,” says Finder’s banking publisher, Matthew Boyle. “Our comprehensive business banking section will also help you explore the business accounts which are currently available in the UK.”

Frequently asked questions

Business banking ratings

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

Our customer satisfaction scores ("Customers say") are based on a survey of 623 customers carried out in December 2022.

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.

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2 Responses

    Default Gravatar
    DanFebruary 16, 2023

    Hi, unfortunately this article is incorrect in that it is still describing Mettle’s “e-money” account, and doesn’t mention that they now have a “mettle beta” product that does have FSCS protection. I was hoping to find review specifically on that new product. Hope you can update. Thank you.

      Avatarfinder Customer Care
      KateFebruary 20, 2023Staff

      Hi Dan,

      Thanks for reaching out. We have added a section to our review about Mettle’s new bank account.

      I hope this helps.

      Thanks,

      Kate

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