Your cookie choices

We use necessary cookies to make this site work. With your permission, analytics cookies help us understand usage and marketing cookies support advertising.

You can reject non-essential cookies and still use the site. Change your choices anytime in Cookie settings.

Cookie settingsCookie policy

Metro Bank review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

Metro Bank suits UK business and joint accounts that want a current account with no monthly charge and covered deposits. The trade-off sits elsewhere: a variable 0.9% on easy-access savings, plus a currency conversion fee of 2.99% to weigh before travelling.

Key facts

Best for
A UK current account for a business or a pair, at no monthly charge with covered deposits.
Monthly fee
£0↗
Deposit protection
FSCS up to GBP 85,000↗
Currency conversion fee
2.99%↗
Currencies
3↗
Legal entity
Metro Bank PLC↗
Headquarters
United Kingdom↗
Founded
2010↗
Support channels
Phone, Help-centre↗
Audience
Business, Travelers
Pricing model
No monthly fee
Features
Joint account
Official website
metrobankonline.co.uk

Savings

Headline rate
0.9%↗
Rate type
Variable↗
Minimum deposit
£1↗
Access terms
Instant access to savings any time, interest paid monthly↗
Account kind
Easy access↗

Facts checked September 26, 2026, 5 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • The current account monthly fee is £0, and Metro Bank places at 1 of 500 brands on that measure.
  • Deposits are covered by FSCS up to GBP 85,000.
  • A joint account is available on the current account for shared use.
  • The savings account takes a minimum deposit of £1 and pays interest monthly with money accessible at any time.

Cons

  • A conversion fee of 2.99% places Metro Bank at 259 of 312 brands, above the everyday-account median of 0.22%.
  • The savings rate is a variable 0.9%, well under the 3% median across listings.
  • Currency cover runs to 3 currencies, ranking at 227 of 379 brands.
Metro Bank

Ready to try Metro Bank?

Scored 8.7 / 10 by VaultCue.

See alternatives

Who it suits

  • UK businesses and sole traders who want a current account with a £0 monthly fee
  • Couples who want a joint account option on a fee-free current account
  • Travellers whose spending stays inside a short list of 3 currencies

Who should look elsewhere

  • PayPal Colombia, whose monthly fee is $0, if you are weighing a wallet balance rather than a UK current account
  • Plazo ES, at a €0 monthly fee, if you want to compare fee levels outside a UK bank
  • Skrill, at a €0 monthly fee, if a joint current account is not what you need

How Metro Bank compares

Where Metro Bank is available

Available
United Kingdom
Licence in United Kingdom
Prudential Regulation Authority, checked September 26, 2026
Licence in United Kingdom
Financial Conduct Authority, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the current account cost each month?+

The personal current account has a monthly fee of £0, and Metro Bank places at 1 of 500 brands on that fee. The joint account option runs on the same current account, and the savings product is sold separately as an easy-access account.

How much does it cost to convert currency?+

The current account conversion fee is 2.99%, which places Metro Bank at 259 of 312 brands compared on that fee. The everyday-account median sits at 0.22%, so conversions cost more here than for a typical comparable account.

How many currencies can I hold?+

The account covers 3 currencies, and Metro Bank ranks at 227 of 379 brands on that count. The multi-currency median on the site is 5, so this is a narrower currency set than most multi-currency accounts.

Is my money protected and who regulates the bank?+

Deposits sit under FSCS up to GBP 85,000. The legal entity is Metro Bank PLC, based in the UK and regulated in the UK by the Prudential Regulation Authority and the Financial Conduct Authority, so the money is held with a bank rather than a payments firm.

What interest does the easy-access savings pay?+

The instant access savings account pays a variable 0.9%, with interest paid monthly and access to the money at any time. The minimum deposit is £1 and the account kind is easy access, so the rate can move rather than being fixed for a term.

Can I open a joint account?+

Yes, the current account includes a joint account option and runs on a no monthly fee model, with a monthly fee of £0. The bank lists business and travellers among the audiences it serves, so shared and business use is the focus rather than personal only banking.

How do I reach support?+

Support runs on phone and help centre, which is phone and the help centre. The current account carries a monthly fee of £0, and the savings product is a separate easy-access account paying a variable 0.9% with interest credited monthly.

What kind of company is behind the account?+

Metro Bank is run by Metro Bank PLC, founded in 2010 and based in the UK. It lists business and travellers as the audiences it serves, and the savings side pays interest monthly on an easy-access balance with a minimum deposit of £1.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type.

Metro Bank

Metro Bank

A UK current account for a business or a pair, at no monthly charge with covered deposits.

8.7/10See alternatives