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.
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
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.
Limited companies are registered with Companies House, and will have at least one director. Here are a few requirements for limited companies:
There needs to be at least 1 Person of Significant Control (PSC) or director listed for your company
The person opening the account must be a director and a PSC
Your limited company must be in an ‘active’ status on Companies House
Here are some examples:
Public limited companies (PLC)
Companies limited by guarantee
Unlimited companies (Unltd)
Limited liability partnerships (LLP)
Community interest companies
Industrial and provident societies (IPS)
Royal charters (RC)
Charities (registered or unregistered)
Here are some example activities and industries that we currently don’t support:
Alcohol and tobacco manufacturing
Tattoo and nail parlours
Armaments and defence
Some manufacturers (including manufacturers of rubber products, manufacturers of medical, dental or veterinary equipment, and others)
Some wholesalers (including those who deal with clothing, footwear, perfume and cosmetics as well as generalist wholesalers)
Diamonds, precious metals and jewellery
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
Waste and scrap
There are few business activities that we’d like to support, but can’t yet. We’re working on changing this…
Hairdressers and beauty treatment providers
Restaurants, pubs, bars and cafes
Taxi companies and drivers
It's free and easy to open.
Available on iOS and Android.
The Mettle account is an e-money account provided by Prepay Solutions (PPS), a trading name of Prepay Technologies Ltd which is an electronic money institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN 900010) for the issuing of electronic money. Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Registered office: 250 Bishopsgate, London, United Kingdom EC2M 4AA
Copyright 2021 © Mettle Ventures Limited.