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.

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Mettle is the first standalone business banking app to be offered by one of the high street banks, NatWest Group. Following a pilot phase, Mettle saw its full launch in November 2019, and looks to rival the mobile app-based business accounts already offered by challenger banks.

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Mettle by NatWest

Mettle by NatWest

  • 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
  • Get FreeAgent for free - a saving of £150 a year (based on FreeAgent's lowest tariff).*

What is Mettle?

Mettle is the first standalone business banking app to be offered by one of the high street banks, NatWest Group. It has been featured on our best business bank accounts guide with a standout mention for accounting software integrations.

NatWest’s new digital business account can be seen as a response to other challenger banks which have changed the face of banking in the last few years – reeling in customers by letting them open and manage bank accounts through their mobile phones as app based business banking, 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 to reduce admin and minimise errors. You can then export your data and share it with your accountant.
  • Accounting. Mettle can connect to accounting packages like FreeAgent and Xero.
  • Payments. You can schedule payments on the go and manage recurring payments directly from the app.
  • Manage your cards. You can lock your card in the app if you think you’ve lost it, then just unlock it if the card shows up.

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 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 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

As a relative newcomer, Mettle doesn’t yet have the same volume of customer ratings as some other business banking brands – although the app does score well in initial reviews. It has an average rating of 4.8 out of 5 from 1,000 reviews on the App Store, and 4.6 out of 5 from 130 ratings on Google Play.

On Trustpilot, Mettle only has around 80 customer reviews, receiving a mark of 3.0 out of 5, and a rating of Average. Some users praised the app’s functionality, while others complained about issues with the account opening process.

Is Mettle safe?

Mettle is separate from NatWest and is not 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.

In terms of the app, it has security processes in place to ensure the safety of your money. You can also freeze your card instantly in the app should you lose it.

Pros and cons of Mettle

Pros

  • Instant and easy application process.
  • No fees to join or manage your account.
  • App lets you invoice and manage your money.
  • User-friendly app with control over accounts and cards.
  • Freeze your card in the app if you lose it.

Cons

  • Currently not FSCS-protected, so your deposits of up to £85,000 aren’t covered.
  • Maxiumum daily payment out limit of £10,000.

Our verdict

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 Xero. Time will tell if it’s successful enough to take on similar business account offerings from the likes of challenger 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 also compare other business bank accounts on the market.

“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.”

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