Mettle: the new challenger bank
NatWest have created a new digital business bank account called Mettle. It's a free account for sole traders and limited companies with up to two owners, so it's perfect for freelancers, contractors and consultants.
They have also partnered up with FreeAgent, so anyone who signs up to the free account of Mettle will also get their FreeAgent account free of charge.
In order to open a Mettle account you'll need to check the following:
* You're a sole trader or limited company with up to 2 owners
* You have a balance of less than £50K (£100K for limited companies)
* You are a UK resident
* You have a suitable form of ID
There are a couple of limitations that you need to be aware of. The most important ones are:
* They offer no overdraft
* They offer no interest on the account
* The card is a prepaid Debit MasterCard
* They don't currently offer the Current Account Switching service
* You can set up Direct Debits, but not Standing Orders
* You can't make international payments (but you can use the card abroad)
For full information please check out the website www.mettle.co.uk or speak to us if you need any help setting it up.