Check if you’re eligible for a Mettle business account

At Mettle, we’d like to offer an account to as many businesses as possible. But unfortunately, there are some business activities and industries we can’t support.

So before you apply for an account, we thought it would be useful to see a summary of who we can and can’t support. We’ve tried to be as clear as possible and do our best to update this list as often as we can.

Key eligibility criteria

• Your business must be registered and trading in the UK

• You’ll need to be a UK resident

• You’ll need a UK phone number

• You’ll need an iOS or Android device to open and manage the account. For Apple devices, you’ll need to be on iOS 12.2 or later and for Android you’ll need to be on 7.0 or later

• Maximum account balance is £100k for limited companies and £50k for sole traders

• You have to be 18 or over to open an account

Business types we support

Sole traders

A sole trader is someone who is self-employed and the sole owner of their business. They pay tax on business profits, via a self-assessment tax return.

We support most sole traders (depending on business activities) apart from partnerships where multiple sole traders are working together.

Limited companies

Limited companies are registered with Companies House, and will have at least one director. Here are a few requirements for limited companies:

• Only one owner can access the account

• There needs to be at least one person of significant control (PSC) listed for your company

• The person opening the account must be a director and a PSC

• There can't be more than two PSCs, and all PSCs must be individuals 

• Your limited company must be in an ‘active’ state on Companies House

Business types we don’t support

Here are some examples:

• Public limited companies (PLC)

• Private company limited by guarantee without share capital

• Unlimited companies (Unltd)

• Limited liability partnerships (LLP)

• Community interest companies

• Industrial and provident societies (IPS)

• Royal charters (RC)

• Charities (registered or unregistered)

Business activities we don’t support

Here are some example activities and industries that we currently don’t support:

• Alcohol and tobacco manufacturing

• Adult entertainment or services

• Distilleries

• Armaments and defence

• Gambling

• Pharmaceutical companies

• Some manufacturers (including manufacturers of rubber products, manufacturers of medical, dental or veterinary equipment, and others)

• Embassies and consulates

• Trust and company service providers – eg involvement in formation of other companies

• Money Service Businesses (MSB) – eg foreign exchange

• Virtual currency or crypto-currency

• Freight shipping

Is Mettle not quite right for you?

Head over to NatWest to explore their range of business accounts.

Find out more.