Metro Bank vs Starling for business banking – Exploring pros, cons, features and fees

In today’s rapidly evolving digital landscape, choosing the right banking partner is crucial for the success of any business. Two popular options in the UK market are Metro Bank and Starling Bank, both offering modern banking solutions tailored to businesses.

In this article, we will compare Metro Bank vs Starling Bank in terms of their pros, cons, key differences, costs, and other important considerations, helping you make an informed decision for your business banking needs.

Metro Bank vs Starling

Features	Metro Bank	Starling Bank
Branch Network	Extensive across the UK	Digital-only
Online and Mobile Banking	Available	Available
Extended Banking Hours	Yes, including evenings and weekends	N/A
Personalised Customer Service	Dedicated relationship managers	Online support
Digital Experience	Limited compared to digital-only banks	Seamless and user-friendly
Cost-Effectiveness	Potentially higher fees for certain services	Competitive and transparent pricing
Advanced Integrations	Limited	Extensive integrations and APIs
Physical Presence	Yes	No
Reputation	Established institution	Relatively new player
Monthly Account Fee	Varies based on account type and usage	Free for business accounts
UK Electronic Payments (In/Out)	Free	Free
International Payments	Fees apply	Free up to certain limits, fees for higher amounts
Cash Deposits	Fees may apply	Not available
Overdraft Facility	Available with fees	Available with fees
Account Management Tools	Basic	Advanced tools and integrations
Account Opening Process	In-person or online application	Fully online application process
Card Payment Processing	Merchant services available with fees	Integrated card payment processing with competitive rates

It’s important to note that the costs mentioned in the table are subject to change, and it’s advisable to visit the official websites of Metro Bank and Starling Bank to obtain the most accurate and up-to-date information on their fees and charges.

Statistics

1. Metro Bank:

• As of their most recent financial report in 2021, Metro Bank reported total assets of £23.2 billion, highlighting their substantial presence in the UK banking sector.
• Metro Bank has a network of over 77 branches across the UK, providing businesses with convenient access to in-person banking services and support.
• In a customer satisfaction survey conducted by the Competition and Markets Authority (CMA) in 2020, Metro Bank was ranked among the top UK banks for overall customer service quality.

2. Starling Bank:

• Starling Bank reported in their 2021 annual report that they had over 3.4 million customer accounts, indicating their rapid growth and popularity among individuals and businesses.
• In a study conducted by Capterra, Starling Bank’s mobile app was ranked the highest among UK banking apps in terms of user ratings, highlighting its user-friendly interface and customer satisfaction.
• Starling Bank won the Best British Bank and Best Business Banking Provider awards at the 2021 British Bank Awards, recognising its excellence and innovation in the banking industry.

These statistics showcase the scale, reach, and reputation of both Metro Bank and Starling Bank in the UK banking landscape, providing insights into their customer base, service quality, and industry recognition.

Pros of Metro Bank

• Extensive branch network: Metro Bank boasts a strong physical presence with branches across the UK, which can be advantageous for businesses that value face-to-face interactions and access to in-person banking services.
• Extended banking hours: Metro Bank branches offer extended hours, including evenings and weekends, providing flexibility for business owners who may require immediate support outside regular office hours.
• Personalised customer service: Metro Bank prides itself on providing exceptional customer service, with a focus on building relationships. Dedicated relationship managers are available to assist with business banking queries.

Cons of Metro Bank

• Limited digital-only services: While Metro Bank offers online and mobile banking, their digital offerings may not be as extensive or feature-rich as those of digital-native banks like Starling.
• Potentially higher fees: Metro Bank’s fees for certain services, such as international transactions or overdrafts, might be higher compared to some digital-only alternatives.

Pros of Starling Bank

• Seamless digital experience: Starling Bank is a digital-first bank, offering a feature-rich mobile app and online banking platform, which are user-friendly and designed for convenience.
• Cost-effective solutions: Starling Bank aims to be cost-effective for businesses, with competitive pricing and transparent fee structures. They offer free day-to-day banking services, and charges for additional services are often more competitive compared to traditional banks.
• Advanced integrations and APIs: Starling Bank provides easy integration with various accounting software, payment platforms, and other business tools, enabling streamlined financial management.

Cons of Starling Bank

• Limited physical presence: Starling Bank does not have physical branches, which can be a disadvantage for businesses that prefer in-person assistance or have cash deposit requirements.
• Relatively new in the market: While Starling Bank has gained significant traction and a solid reputation, it is a relatively new player compared to more established institutions like Metro Bank.

Metro Bank vs Starling – Key differences

• Banking channels: Metro Bank offers both physical branch banking and digital services, while Starling Bank is a digital-only bank.
• Pricing: Metro Bank’s fee structure may be higher for certain services compared to Starling Bank’s competitive pricing.
• Technology and integrations: Starling Bank excels in providing a modern and seamless digital experience, with advanced integrations and APIs to streamline business processes.

Metro Bank vs Starling – Costs and other considerations

• It is important to carefully review the fee structures, transaction charges, and any additional costs associated with specific services or account types for both Metro Bank and Starling Bank, to ensure they align with your business requirements and usage patterns.
• Consider whether you prefer a physical branch presence, personalised customer service, or a fully digital experience when selecting your banking partner.
• Assess your business’s need for advanced integrations with other software systems, such as accounting or payment platforms, as this can impact your efficiency and productivity.

Metro Bank vs Starling – Verdict

In conclusion, choosing between Metro Bank vs Starling Bank for business banking ultimately depends on your specific needs and preferences.

Metro Bank’s extensive branch network, personalised service, and extended banking hours may be appealing to businesses valuing in-person interactions.

On the other hand, Starling Bank’s seamless digital experience, advanced integrations, and cost-effective solutions make it a compelling choice for businesses that prioritise convenience and value cutting-edge technology.

Metro Bank vs Starling – FAQ

Please note that the information provided in this FAQ is based on general knowledge, and it’s recommended to visit the official websites of Metro Bank and Starling Bank for the most accurate and up-to-date information specific to your business needs.