Instant Access Savings

Access your savings, any time

For a flexible savings option choose our Instant Access Savings account. Save what you want, when you want and get instant access to your cash if you need to.

Make your money grow with 1.15% AER* Interest (rates will change to 1.25% AER* from 8 June 2023)

Get all the ins and outs to read at a time that suits you by downloading our

Instant Access Savings details (PDF)

Apply online now Resume your application

*AER stands for annual equivalent rate. It shows how much the interest rate would be if the interest was worked out once a year. You can use it to compare different financial products

Interest rate of 1.15% AER* (rates will change to 1.25% AER* from 8 June 2023)

Open an account with as little as £1 to start earning interest.

Easy access to your money

Need to dip into your savings? No problem. You’ll have instant access to your money – in store, online and by phone.

Save the way you want

Grow your savings your way. Put away a lump sum or save regularly – it’s up to you.

See all the ways you can save

See how much you could save with an Instant Access Savings account when you try our Savings Calculator tool.

What you need to know

We’re upfront with our customers about everything. We’ve created this handy summary of our Instant Access Savings account features so you can see the important information from the get-go.

Interest rate	Save from	Interest paid
1.15% AER* 1.25% AER* from 8 June 2023	£1	Monthly

Interest rate

Save from

Interest paid

1.15% AER*

1.25% AER* from 8 June 2023

£1

Monthly

*AER stands for annual equivalent rate. It shows how much the interest rate would be if the interest was worked out once a year. You can use it to compare different financial products.

Eligibility

To open an account you need to be:

You’re aged 16 or over. (You need to be aged 18 or over if you want to apply online.)
You're resident in the UK. You’ll also need to provide proof of your identity and address. If you’re not a UK, EU, EEA or Swiss national you’ll need a valid visa/residence permit.

Important: for Power of Attorney applications, please speak to a colleague for guidance on what we will require.

What you need to open your account

Your savings and tax

Since 6 April 2016, you can earn up to £1,000 a year on your savings tax-free if you pay the basic rate of tax and up to £500 a year if you pay the higher rate of tax. This is called your Personal Savings Allowance. Interest on your savings is now paid without tax being taken off. The interest from ISAs doesn’t count towards your Personal Savings Allowance.

Charges for banking services

If you ever need us to issue you a banker's cheque, we will charge a small fee. Each cheque costs £15.

Get all the details to read at your leisure

Download our PDF to read when you like - it contains all the ins and outs of our Instant Access Savings account.

Instant Access Savings Account Details (PDF)(747KB)

Our Service Relationship with Personal Customers (PDF)(1.2MB)

Ready to apply?

Apply online now Find your nearest store

Already started an application and would like to resume? Yes, resume application.

Frequently asked questions

How do I pay money into my account?

There are a few different ways you can pay money into your Metro account, the fastest being a payment from one bank to another. You can also deposit a cheque or pay cash* into your account at your nearest store.

*Please note that you may be asked additional questions about the source of funds to help keep your money safe.

We’ve introduced limits on the amount of cash customers can pay into their Metro account each day.

Personal accounts – new daily limit £5,000*
Business accounts (including community accounts) – new daily limit £10,000*
*If you are depositing foreign currency into a ‘regular’ GBP or a Foreign Currency Account, this will be the GBP equivalent of the above limits using the exchange rate on the day of the deposit

The new cash deposit limit for Commercial Current Accounts won’t be introduced until early 2023. If you have this type of account, your Relationship Manager will be in touch nearer the time to discuss the new limit with you.

Changes to who can pay in cash

To pay cash into a Metro account you must either:

be named on the account, or
have authority to manage the account – e.g. power of attorney, or
be paying less than £250 into a Young Savers account if you are not named on the account (the account holder or a named person on the account can pay in larger amounts), or
an employee paying into a business or commercial account for your employer, using a pre-printed paying-in slip issued to the account holder.

Exchanging cash

You can only exchange cash over the counter if you’re a Metro customer.

How do I transfer money from another account into my Instant Access Savings account

You can transfer money from existing Metro accounts online, in store or by calling us on +44 7418611581. If you’re transferring money from another bank or building society, you’ll need to give them your new Metro details.

Can I open a joint Instant Access Savings account?

Yes, just pop into one of our stores. You can open a joint account to manage your money together.

Where can I find the rate for my Metro account that’s now closed to new savers?

You can find the rates for any account that is not listed on the current rates page set out in Rates for Closed Products.