Tide vs Mettle
Two of the most popular free UK business accounts. Mettle is owned and backed by NatWest with free FreeAgent included; Tide is the SME-tooling-first platform with a £200 cashback offer. Last reviewed 12 October 2026.
Daniel Okoye maintains the comparison data behind Business Account Referral. He collects published pricing, transfer allowances, FX charges and account-protection details from provider sources, models the total cost of each plan at realistic transaction volumes, and dates every figure so readers can see when it was last verified.
Reviewed 12 October 2026 · About the team · How we review
| Feature | Tide | Mettle |
|---|---|---|
| Owner / licence | Financial platform; bank accounts issued via ClearBank | Owned by NatWest Group; account services provided by NatWest |
| FSCS protection | Eligible on ClearBank-issued bank accounts; e-money is safeguarded | FSCS-eligible via NatWest (subject to combined NatWest balances) |
| Eligibility | Sole traders, Ltd companies, partnerships | Sole traders and Ltd companies (single-director, UK-resident) |
| Monthly fee | Free plan; Smart £12.49, Pro £27.49, Max £69.99 | Free — single tier only |
| Accounting bundled | Xero/QuickBooks/FreeAgent integrations (paid externally) | Free FreeAgent for active Mettle users |
| Invoicing | Built-in; 3/month on Free, more on paid | Built-in, included free |
| Pots / sub-accounts | Yes (Instant Saver, plan-dependent) | Pots within the app |
| Card | Mastercard debit (free) + Expense Cards on paid | Mastercard debit |
| UK transfers | 20 free/month on Free; more on paid | Free unlimited |
| Cash deposits | PayPoint / Post Office (fees) | Not supported |
| Company formation | Yes — integrated with Companies House | No |
| Sign-up offer | REFER200 — up to £200 cashback | None |
Who owns what — the licence question
Mettle is owned and operated by NatWest Group. Account services are provided by National Westminster Bank plc, which means eligible Mettle deposits sit within NatWest's banking licence and are FSCS-protected up to £120,000 — but that £120,000 limit is shared across all your NatWest-group balances (NatWest, RBS, Ulster Bank, Mettle combined per depositor). Tide is a financial platform, not a bank: business bank accounts are issued via ClearBank (a licensed UK clearing bank, FSCS-eligible) or as Tide-issued e-money (safeguarded under UK e-money rules, not FSCS-protected). For most sole traders running modest balances the practical difference is small; for anyone keeping more than £120,000, splitting balances matters either way.
Eligibility — Mettle is narrower
Tide opens sole traders, limited companies, partnerships and a number of other structures. Mettle is tighter: sole traders and single-director limited companies only, both UK-resident. If you have multiple directors, a partnership or a more complex structure, Mettle is not currently an option and Tide is the obvious default. This eligibility gap is the single most common reason businesses choose Tide over Mettle on day one.
Pricing — both have a real free plan
Mettle is genuinely free. There is one plan, no monthly fee, free UK transfers and free FreeAgent accounting for active users. Tide's Free plan is also £0/month with 20 free UK transfers; paid tiers (Smart £12.49, Pro £27.49, Max £69.99) add more included transfers, Expense Cards, enhanced invoicing and priority support. For a sole trader on low UK volumes, both are effectively £0/month. Once you need integrated company formation, multi-user expense cards or more than 3 invoices a month, Tide starts to earn its paid tier.
The FreeAgent factor
Mettle's strongest single feature is free FreeAgent. FreeAgent normally costs £19–£33/month for sole traders or limited companies, and Mettle gives it to active users at no charge — that's effectively £200–£400/year of value if you'd otherwise pay for it. Tide integrates with FreeAgent (and Xero, QuickBooks) but does not pay your subscription. If FreeAgent is your accounting tool of choice, Mettle has a real cost advantage. If you use Xero or QuickBooks, this advantage disappears and the comparison turns on tooling and the sign-up offer.
Tooling and day-to-day UX
Tide is more SME-tooled out of the box: integrated company formation (Mettle has none), Expense Cards on paid tiers for staff, deeper categorisation, Tide Instant Saver for retained cash, and a more developed invoicing workflow on paid tiers. Mettle keeps the app simple — invoicing, pots, a card and FreeAgent — which is exactly the appeal for solo operators who want a clean, free account with bookkeeping handled. Neither is bad; they're optimised for different users.
Cash, transfers and ATMs
Mettle does not accept cash deposits at all — a deal-breaker for any business that handles cash. Tide accepts cash via PayPoint and the Post Office with percentage fees. Both offer Mastercard debit cards; UK ATM withdrawals carry a per-withdrawal fee at Tide, while Mettle is free at UK ATMs within reasonable limits. Both clear UK transfers via Faster Payments and pay HMRC at parity.
The sign-up offer
Mettle does not run a structured sign-up cashback offer. Tide currently runs REFER200 — up to £200 cashback when you complete £100 of card spend in 30 days and deposit £5,000 into Tide Instant Saver for 30 days. For anyone whose decision is otherwise close, the offer is the tie-breaker.
Pick Tide if…
You're a partnership, multi-director Ltd or not Mettle-eligible; you want integrated company formation; you need Expense Cards for staff; you use Xero or QuickBooks rather than FreeAgent; or you want the £200 REFER200 cashback for first-year cash flow.
Pick Mettle if…
You're a UK-resident sole trader or single-director Ltd, you want a free account backed by NatWest's banking licence, and you'd genuinely use the free FreeAgent subscription. The combination of "free + FreeAgent + FSCS via NatWest" is hard to beat on pure cost if you fit the eligibility window.
Run both?
Some businesses maintain more than one provider for a defined purpose, but that adds reconciliation work. Choose a primary account first, then add a second only where it solves a concrete cash, accounting or currency need.
Decision checks before you choose
A useful comparison is not a feature checklist alone. Check whether you can apply, whether the included-transfer allowance reflects your normal month, how you take payments, whether you need cash deposits, what happens when you spend or get paid abroad, and whether your accountant needs a particular integration or access level.
- Choose Tide first when: your business structure needs broader eligibility, you need cash-deposit routes, or Tide’s administration tools fit your accountant workflow better.
- Put Mettle first when: you are eligible for Mettle, want a NatWest-provided account and would otherwise pay for FreeAgent accounting.
- Do not decide from the promotion alone: REFER200 is a conditional partner offer; account suitability, approval and any reward validation remain Tide’s decisions.
- Final due diligence: Check the current eligibility rules, NatWest combined-balance protection position, cash-deposit route, transfer terms and whether your accountant will actually use FreeAgent before applying.
For the market-wide context, see our UK business-account comparison. For Tide’s product details, read the Tide business account guide and the Tide fees guide.
Frequently asked questions
Is Mettle a real bank?+
Mettle is owned by NatWest Group; account services are provided by National Westminster Bank plc. Eligible deposits are FSCS-protected up to £120,000 per depositor across the NatWest group.
Is Tide safer than Mettle?+
Both can offer FSCS-eligible accounts — Mettle via NatWest, Tide via ClearBank-issued business bank accounts. Some Tide accounts are safeguarded e-money instead. For very large balances, confirm your specific account type.
Can a partnership open Mettle?+
No — Mettle currently only supports UK-resident sole traders and single-director limited companies. Partnerships should choose Tide or another provider.
Does Mettle have a cashback offer like REFER200?+
No structured cashback at the time of writing. Tide's REFER200 (up to £200) is the more generous active sign-up offer.
Is FreeAgent actually free with Mettle?+
Yes — active Mettle users get FreeAgent accounting at no extra cost. You need to remain an active customer; the subscription reverts to standard pricing if you close the account.
Can Mettle accept cash deposits?+
No — Mettle does not currently support cash deposits at all. Tide accepts cash via PayPoint and the Post Office (with fees).
Which has better invoicing?+
Tide on the paid plans has the more developed invoicing workflow (branding, payment matching, reminders). Mettle's invoicing is clean and included free but functionally lighter.
Can I claim REFER200 if I already have Mettle?+
Yes — REFER200 only requires that you've never held a Tide account before. Holding Mettle is irrelevant.
Which is faster to open?+
Both approve sole traders in minutes. Limited company applications typically clear within a working day at either provider.
Key facts: Tide vs Mettle
- Mettle is owned by NatWest; eligible deposits sit within NatWest's banking licence (FSCS up to £120,000 shared across NatWest group).
- Tide is a financial platform with ClearBank-issued FSCS-eligible business bank accounts and safeguarded e-money on some products.
- Mettle includes free FreeAgent accounting for active users — Tide does not pay your accounting subscription.
- Mettle is sole trader and single-director Ltd only; Tide supports a wider range of business structures.
- Tide currently runs REFER200 — up to £200 cashback. Mettle has no equivalent offer.
- Last checked: 12 October 2026.
Open Tide with REFER200
Start with Tide’s £0/month plan, payments, invoicing and expense tools—then add REFER200 at sign-up for up to £200 cashback.
Open a modern business account with payments, invoicing and expense tools—then add REFER200 as you apply.
REFER200Offer verified 12 October 2026. Up to £200 cashback for eligible new Tide business-account customers. Tide terms and eligibility apply.
Independent introducer disclosure: this site is not Tide and is not operated by Tide. If you sign up using our link or the code REFER200, we may receive a referral reward. Tide controls account approval, eligibility and cashback validation. This is not financial advice. Always check the latest Tide terms before applying. Last checked 12 October 2026.