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Tuesday, November 20, 2018

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NatWest launches business current account Mettle

Theo Osborn | 07:30 Wednesday 7th November 2018

Business current account Mettle has started its early access phase for UK SMEs.

Mettle is backed and funded by NatWest and aims to help small business owners make better decisions when running their companies.

The account – which was developed in partnership with 11:FS and Capco – offers features such as invoicing, payment chasing and bookkeeping capabilities.

Although it is not a bank, it operates as an agent under an e-money licence held by PrePay Solutions.

The free account has a maximum balance of £50,000 as well as a maximum pay out of £10,000.

Those looking to open an account need to register their interest on Mettle’s website.

It will then send potential customers a list of questions to understand their business and let them know whether they can be part of its first group of users with early access.

The account does not currently offer interest or overdrafts and cash withdrawals are limited to £500 a day and £4,000 a month.

Card transactions are also limited to £10,000 per transaction, £20,000 per week and £50,000 a month.

Alison Rose, chief executive of commercial and private banking at NatWest, said: “We are really excited to launch Mettle, the latest in a number of innovative offerings from NatWest. 

“With a constantly evolving banking and technology landscape we know we need to adapt in order to offer new customer-focused solutions. 

“The premise for Mettle lets our customers focus on ‘forward-looking’ finances, combining technology and proactive insights so SMEs can make better decisions and run their businesses more successfully.

“We wanted to launch this new innovative account so that customers can focus on achieving their entrepreneurial goals, while staying on top of their financial commitments. 

“With their invaluable insight, we hope to save our customers from worrying about daily account management and cash uncertainties of the future.”

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