Tide vs Mettle: at a glance
| Feature | Tide | Mettle |
|---|---|---|
| Provider type | Tide is not a bank; accounts may be ClearBank-powered or PPT e-money | Backed by NatWest (licensed bank) |
| Money protection | FSCS up to £120,000 (via ClearBank, subject to eligibility) | FSCS deposit protection (up to £120,000) |
| Monthly fee | Free tier available; paid plans from £12.49/m | Free |
| Outbound transfers | 20p each (Free plan) | Free (unlimited) |
| Cash deposits | Post Office & PayPoint (charged) | Post Office (charged) |
| Built-in invoicing | Yes — all plans | Yes — FreeAgent integration |
| Receipt capture | Yes | Via FreeAgent |
| Expense cards | Yes — from Smart plan | No |
| Instant Saver / savings | Yes — interest-bearing | No dedicated savings pot |
| Company formation | Yes | No |
| Accounting integrations | Xero, FreeAgent, QuickBooks, Sage | FreeAgent (primary) |
| International payments | Yes | Limited |
| Current sign-up offer | Up to £200 cashback with REFER200 | Check Mettle directly |
What Mettle is
Mettle is a free business current account app backed by NatWest. Because it is backed by a licensed bank, business account funds held with Mettle benefit from FSCS deposit protection up to £120,000 (standard limit from 1 December 2025), delivered through a modern app interface.
Mettle is designed for sole traders and small limited companies that want a simple, free business account with clean bookkeeping support. Its primary accounting integration is FreeAgent, which is included free with the account — a meaningful benefit for businesses that would otherwise pay for FreeAgent separately (typically £19–£29/month).
Mettle does not offer expense cards, a savings pot, company formation, or the depth of invoicing tools that Tide provides. It is a deliberately simple product: free banking, FSCS protection, and FreeAgent included.
The FreeAgent advantage
Mettle includes FreeAgent accounting software free with the account. FreeAgent is a well-regarded cloud accounting platform that handles invoicing, expense tracking, VAT returns, self-assessment and payroll. For a sole trader or small company that would otherwise pay for FreeAgent, this is a genuine saving of £19–£29/month.
Tide integrates with FreeAgent (and Xero, QuickBooks and Sage) but does not include any accounting software for free. Tide's built-in invoicing and receipt capture are included on all plans, but they are not a full accounting platform — they are tools that complement rather than replace accounting software.
If you already use FreeAgent and pay for it separately, Mettle's free inclusion is a strong argument in its favour. If you use Xero or QuickBooks, Mettle's FreeAgent-centric approach is less relevant.
Fees compared
| Charge | Tide Free | Tide Smart (£12.49/m) | Mettle (Free) |
|---|---|---|---|
| Monthly fee | £0 | £12.49 | £0 |
| Outbound transfers | 20p each | Included (allowance) | Free (unlimited) |
| Cash deposits | £1 per deposit | £1 per deposit | £1 per deposit (Post Office) |
| FreeAgent included | No | No | Yes |
| Xero / QuickBooks integration | Yes | Yes | No (FreeAgent only) |
| Expense cards | No | 1 included | No |
| Instant Saver (interest) | Yes (2% AER) | Yes (3% AER) | No |
Who should choose Tide vs Mettle?
| Business type | Better choice | Reason |
|---|---|---|
| Sole trader wanting free banking + FreeAgent | Mettle | Free account + FreeAgent included; FSCS protection |
| Business wanting FSCS deposit protection | Mettle | NatWest-backed; FSCS protection up to £120,000 |
| New limited company wanting formation + banking | Tide | Company formation built into Tide account opening |
| Business needing expense cards for team | Tide | Mettle does not offer expense cards |
| Business wanting interest on savings | Tide | Tide Instant Saver pays variable AER; Mettle has no savings pot |
| Business using Xero or QuickBooks | Tide | Mettle's primary integration is FreeAgent only |
| High-transfer-volume business | Mettle | Unlimited free transfers vs Tide's per-transfer charge |
| Business needing international payments | Tide | Mettle has limited international payment capability |
The REFER200 offer in this comparison
The REFER200 cashback of up to £200 applies specifically to opening a Tide account. It pays £75 after £100 of qualifying card spend within 30 days, and £125 after depositing £5,000 into Tide Instant Saver within 7 days of opening and holding it for one month.
Mettle is a strong alternative for sole traders and small companies that want free banking with FSCS protection and FreeAgent included. If Mettle fits your business better — particularly if you use FreeAgent and value the FSCS protection — take Mettle. The REFER200 cashback is a one-off; the ongoing benefit of free FreeAgent and FSCS protection applies every month.