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Invoice Finance incentive Terms and Conditions

Business Borrowing options Invoice Finance Incentive Terms and Conditions

The Offer 

A. When you commence an invoice finance facility as a new customer with Metro Bank you will be charged a Discount Margin of 1% above Metro Bank Base Rate for a period of 6 months from commencement.  After this initial period your discount margin will revert to a standard percentage above Metro Bank Base Rate as outlined in your Formal Offer Letter. 

or 

B. If you complete a full switch to a Metro Bank Business or Commercial Bank Account and commence a new invoice finance facility with Metro Bank, you will be charged a Discount Margin of 0% above Metro Bank Base rate for a period of 6 months from commencement.  After this initial period your discount margin will revert to a standard percentage above Metro Bank Base Rate as outlined in your Formal Offer Letter.
 

Terms and Conditions of the Offer 

  1. By participating in the offer, you agree to be bound by the Terms and Conditions in this Agreement. 
  2. The promoter of this Offer is Metro Bank plc and its subsidiary SME Invoice Finance Limited (“we”, “us”) companies registered in England with respective company numbers 6419578 and 03591079, with their registered address being one Southampton Row, London, WC1B 5HA. 
  3. The Offer part b is only available when completing a full switch from an eligible bank account using the Current Account Switch Service (CASS) and this offer is only available on a Metro Business or Commercial Bank Account (Community and Foreign Currency accounts are not eligible).  The CASS website outlines which banks are signed up to the CASS at currentaccountswitch.co.uk/banks-building-societies/.   
  4. Customers are not required to open a Business Current Account or Commercial Bank Account to apply for an Invoice Finance facility which is available without the offer described in ‘part a’ and ‘part b’.  
  5. Businesses with turnover in excess of £6,500,000 who are unable to use CASS will be required to manually switch their Direct Debits and Standing Orders to Metro Bank and the switch will be deemed complete at our discretion as these accounts are ineligible for the Metro Bank CASS switch offer. 
  6. All standard relevant terms and conditions and eligibility criteria for the Metro Business Bank Account will apply which can be found on our website (metrobankonline.co.uk/business/current-accounts/products/business-bank-account/).  The full CASS switch must be successful and completed in accordance with the Current Account Switch Guarantee before the incentive is applied, details of which can be found on our website metrobankonline.co.uk/bank-accounts/switching-my-account/. 
  7. All standard relevant terms and conditions and eligibility criteria for the Metro Business Commercial Account will apply which can be found on our website metrobankonline.co.uk/business/current-accounts/products/commercial-bank-account/ .  The full CASS switch must be successful and completed in accordance with the Current Account Switch Guarantee before the incentive is applied, details of which can be found on our website metrobankonline.co.uk/bank-accounts/switching-my-account/. 
  8. We reserve the right to decline a Business or Commercial Bank Account as per our standard Terms and Conditions found on our website at: metrobankonline.co.uk/business/current-accounts/products/business-bank-account/. 
  9. The reduced Discount Margin will apply from commencement for either The Offer a or b and will last a period of 6 months, at which point the Discount Margin will be changed to the figures set out in your Formal Offer Letter. 
  10. In the event that the invoice finance facility commences before the bank account switcher is complete the Discount Margin will commence at 1% above Metro Bank Base Rate until the switcher completes, at which point your Discount Margin will reduce to 0% above Metro Bank Base Rate for the remainder of the 6 months from commencement, and, you will be refunded any Discount Margin paid at the higher rate during that initial period, so long as the bank switcher is complete before 30th April 2025. You can find the Metro Bank Base Rate at: insert the text link https://www.metrobankonline.co.uk/help-and-support/what-is-the-metro-bank-base-rate/). 
  11. The Offer only applies to standard credit applications which is at our discretion.  If we deem the request to be non-standard you will be advised of this and our Formal Offer Letter (if approved) will detail the pricing we are able to offer. 
  12. The Offer is only available to businesses who are new to Metro Bank Invoice Finance and do not currently use an invoice finance facility with us. 
  13. The Offer is only available to businesses with turnover less than £15,000,000 (gross) or an invoice finance facility less than £5,000,000.  If turnover exceed £1,500,000 gross in one calendar month we reserve the right to review the incentive and / or retract the Offer.  If this were to happen your Discount Margin would revert to the standard percentage detailed in your Formal Offer Letter. 
  14. We reserve the right to decline invoice finance applications at any stage during the process. 
  15. The Offer is available from 17th February 2025, and we reserve the right to amend or withdraw the Offer prior to the offer being accepted. 
  16. This promotion cannot be utilised in conjunction with any other promotions other than those outlined in these Terms. 
  17. This Agreement shall be governed by English Law and the parties submit to the exclusive jurisdiction of the courts of England and Wales. 
  18. These Terms and Conditions only reflect the reduced Discount Margin attached to the invoice finance and do not in any way affect the Terms and Conditions of your invoice finance facility which are signposted in your Formal Offer Letter and Legal Documentation.