Reply to: SJD MetroBank free banking offer hidden costs

[AndrewK]

I would recomend reading
https://uk.trustpilot.com/review/www...nkonline.co.uk

before considering it as your business bank.
And I do understand that bar is low with banks.

[SueEllen]

Then how do you pay your CT bill?

BACs

[northernladyuk]

ATM withdrawals? What are they?

I don't do them with my business account.

Then how do you pay your CT bill?

[Lost It]

By eck. That's a sturdy table.

[MrMarkyMark]

How do you know you don't do them if you don't know what they are?

Just because you operate your business in one way, you really shouldn't assume that everyone else never needs to use cash for certain purchases for their business. Of course, you could pay in cash and then claim that back from your company as an expense as long as your purchase meets the wholly and exclusively for the business test, which I'm sure plenty of people do as well.

Exactly....

Never assume

[TheFaQQer]

ATM withdrawals? What are they?

I don't do them with my business account.

How do you know you don't do them if you don't know what they are?

Just because you operate your business in one way, you really shouldn't assume that everyone else never needs to use cash for certain purchases for their business. Of course, you could pay in cash and then claim that back from your company as an expense as long as your purchase meets the wholly and exclusively for the business test, which I'm sure plenty of people do as well.

[MrMarkyMark]

I think that's for, ahem.....late night expenses, possibly ad-hoc 'entertainment'

Does he not know that such purveyors of such late night entertainment usually take credit cards these days?

[barrydidit]

ATM withdrawals? What are they?

I don't do them with my business account.

I think that's for, ahem.....late night expenses, possibly ad-hoc 'entertainment'

[SueEllen]

There are some additional charges even if you keep the balance above £5k - https://www.metrobankonline.co.uk/gl...ionsummary.pdf

You always pay for cash at the bank (ie not via ATM) but get up to 50 free ATM withdrawals a month if your balance stays over £5k.

I like the new mobile app as well.

ATM withdrawals? What are they?

I don't do them with my business account.

[TheFaQQer]

It's free if you go direct to Metro Bank, but you need to keep minimum balance of £5,000

There are some additional charges even if you keep the balance above £5k - https://www.metrobankonline.co.uk/gl...ionsummary.pdf

You always pay for cash at the bank (ie not via ATM) but get up to 50 free ATM withdrawals a month if your balance stays over £5k.

I like the new mobile app as well.

[greenfrog]

It's free if you go direct to Metro Bank, but you need to keep minimum balance of £5,000

[Jaimesjdaccountancy]

SJD MetroBank free banking offer hidden costs

Thank you for bringing this point to our attention. Just to confirm, the 0.50% charge does apply, you are correct, however this is for cash withdrawals or exchanges only (paper money). All other banking with Metro Bank is free as long as £2,000 is retained in the account. Clients of SJD do not have to use Metro Bank, they can use any banking provider of their choosing.

[Cirrus]

I think the whole point of the first post was that in certain, realistic circumstances, it isn't free.

The daily paper?

[Waldorf]

Metro's free anyway isn't it?

I think the whole point of the first post was that in certain, realistic circumstances, it isn't free.

[PerfectStorm]

Metro's free anyway isn't it?