Metro Bank — fees, features, catches and eligibility
Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. You can check a firm’s details on the FCA Register.
Quick answer
Metro Bank’s Current Account has no monthly fee and no minimum balance, and its arranged and unarranged overdrafts have a typical rate of 34% APR variable, as of 4 October 2026. It’s known for in-store banking with walk-in help.
Using the debit card abroad costs 2.99% per purchase, and 2.99% plus £1.50 per cash withdrawal. Its easy-access savings rates were low (0.90% AER).
Who it’s for
- People who value face-to-face help in a store
- Small businesses that want local business managers and walk-in account opening
- People who want a capped unarranged overdraft charge (maximum £60 a month)
Who should avoid it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- You travel often — 2.99% foreign transaction fees apply
- You want a competitive easy-access savings rate
- You want a switch bonus — we didn’t see one for personal accounts
Key features
- No monthly fee, no minimum balance
- Overdrafts at a typical 34% APR variable, with a £60 monthly cap on unarranged overdraft charges
- No fee for refused payments
- Stores with walk-in help
- Business Bank Account free if the balance stays at £6,000 or more every day of the month
Eligibility
- 18 or over and UK resident
- Proof of identity and address
- Non-UK, EU, EEA or Swiss nationals need a valid visa or residence permit
Fees and rates
| Item | Detail |
|---|---|
| Monthly fee | £0 |
| Overdraft | 34% APR variable (typical), unarranged charges capped at £60 a month |
| Card purchase abroad | 2.99% of the transaction |
| Cash withdrawal abroad | 2.99% + £1.50 |
| Instant Access Savings | 0.90% AER variable |
| Fixed Term Savings | 3.70% (1 yr / 18 months) to 3.75% (3 yrs) AER, £500 minimum |
| Business Bank Account | £0 if daily balance stays £6,000+, otherwise £8 a month plus 30p per UK transaction |
Figures as of 4 October 2026, taken from the provider’s own website. Rates and fees can change.
The catch
Easy-access savings and the Instant Access Cash ISA paid 0.90% AER variable, well below many rivals. Fixed terms paid more (3.70% to 3.75% AER for one to three years).
Check the latest terms on Metro Bank’s site.
These go straight to each provider’s own website. They aren’t referral links and we don’t earn from them.
FAQs
Does Metro Bank charge a monthly fee?
No, the personal Current Account has no monthly fee, as of 4 October 2026.
What does a Metro Bank overdraft cost?
A typical 34% APR variable for arranged and unarranged overdrafts, with unarranged charges capped at £60 a month.
Does Metro Bank charge fees abroad?
Yes: 2.99% on card purchases and 2.99% plus £1.50 on cash withdrawals outside the UK.
Is my money safe with Metro Bank?
Eligible deposits with Metro Bank PLC are protected by the FSCS up to £120,000 (source: FSCS).
Can I open a Metro Bank account in store?
Yes, and online. Metro says you could open one online in less than 10 minutes.
Does Metro Bank pay a switch bonus?
We didn’t see one for personal accounts on 4 October 2026. Business switchers get 31 months without monthly maintenance fees.
How do I switch to Metro Bank?
Open a Current Account, then fill in the switching form online or in store. Choose a date at least seven working days ahead.
What savings rates does Metro Bank pay?
Instant Access Savings and the Instant Access Cash ISA paid 0.90% AER variable; fixed terms paid up to 3.75% AER.
Does Metro Bank charge for refused payments?
No. It says it doesn’t charge a fee when it refuses a payment for lack of funds.
What is the Metro Bank business account fee?
£0 if your balance stays at £6,000 or more every day of the month; otherwise £8 plus 30p per UK transaction.
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