Mettle vs NuBank
Side-by-side comparison — pricing, features, ratings, use cases. Find which Neobanks fits you best.
🔍 Independently researched ·
📊 Data-driven
60/100
Free tier
UK based freelancers, contractors, and sole traders who want a no-cost, mobile-first business bank account with built-in
💰 Pricing
🆓 Free tier available
All core features are included at no cost: no monthly fees, no UK payment fees, free electronic money transfers, no minimum balance. Some usage limits apply to card spending and ATM withdrawals, but there are no restrictions on account features.
Fee notes:
- No monthly account fee, setup fee, or closure fee
- No fee for UK Faster Payments or BACS payments
- Debit card purchases in foreign currencies incur a 2.99% non-sterling transaction fee
- ATM withdrawals in the UK are free, but ATM operator surcharges may apply
- International ATM withdrawals: likely a 2% platform fee (minimum £2) plus the 2.99% non-sterling transaction fee (check current terms)
⚠ Watch for:
- Non-sterling transaction fee of 2.99% applied to all purchases made in a foreign currency
- International ATM withdrawals may carry both a fixed fee and the non-sterling fee, resulting in higher effective costs
- Business account only supports GBP for domestic payments; international transfers require integration with third-party FX services that add their own conversion margins
- Some accounting integrations require a separate paid subscription (e.g., free with FreeAgent only while you hold a Mettle account)
🔧 Features
✓ Free Tier✓ Uk Sole Trader✓ Natwest Owned✓ Invoicing✓ Accounting
📋 Assessment
💪 Strengths
- No fees, truly free: Mettle charges no monthly fee, no minimum balance requirement, and no transaction fees for standard UK payments (including Faster Payments and Direct Debits). For a small business, this removes a predictable monthly cost, freeing up capital for growth. You can make unlimited UK transfers without worrying about per-transaction charges, which is rare among both traditional and digital banks.
- Free FreeAgent subscription: Every Mettle customer gets a complimentary FreeAgent account, normally costing around £120 a year. This is a significant saving for freelancers who need to manage their accounting, and it integrates seamlessly with Mettle—transactions appear automatically in FreeAgent, and you can create invoices directly from the accounting dashboard. This integration simplifies tax filing and financial reporting.
- Built-in invoicing and receipt capture: Mettle's app allows you to generate professional invoices in seconds, with customizable fields and the ability to schedule recurring invoices. You can also photograph receipts on the go, and Mettle uses AI to extract the total, date, and merchant, then attaches it to the corresponding transaction. This digitizes your admin, saving hours each month and making expense tracking effortless.
- FSCS protection and NatWest backing: Because Mettle is an arm of NatWest, your money is protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. This is a major trust advantage over many standalone neobanks that either lack FSCS protection or require a banking partner. For risk-averse freelancers, knowing their funds are safeguarded by a major UK bank is reassuring.
- FreeAgent integration with Xero support: Beyond FreeAgent, Mettle also integrates with Xero, allowing you to sync your transactions with your existing accounting setup. This flexibility is crucial for businesses that already use Xero and don't want to switch. The two-way sync ensures that payments made via Mettle are automatically reconciled, reducing manual data entry and errors.
⚠ Watch out for
- No cash deposits: If you operate in a cash-intensive business—like retail, events, or some trades—you cannot deposit cash into Mettle. The app has no facility to accept cash, meaning you'd have to keep a separate bank account and transfer money, creating extra admin and potentially delaying access to funds. For businesses that rely on cash flow, this is a major drawback.
- Eligibility restrictions: Mettle is only available to sole traders and single-director limited companies. If you have a partnership, a multi-director Ltd, a charity, or a trust, you cannot open an account. This narrow focus might be fine for many freelancers, but it excludes a substantial segment of business owners who might otherwise benefit from the free banking.
- Limited international features: Mettle doesn't offer foreign currency accounts, and international payments incur a 4.5% currency conversion fee (plus a £1.50 flat fee for non-UK transfers). For freelancers with clients abroad, this is expensive compared to specialist services like Wise or Revolut Business, which offer interbank rates and low fees. Mettle is best for domestic transactions only.
- No phone support and limited in-app help: While Mettle has an in-app chat and a comprehensive help center, there is no direct phone number to call. If you have a time-sensitive issue, the chat can be adequate, but some users may find the lack of phone support frustrating, especially in emergency situations. Response times can vary, and complex queries might require multiple interactions.
- Not suitable for businesses needing branch access: As a digital-only bank, Mettle has no physical branches. If you need to deposit cheques (though they are becoming obsolete), or prefer face-to-face banking, you'll be disappointed. Cheques cannot be paid in via Mettle; you'd need a separate NatWest account, which defeats the convenience.
🎯 Best for
UK based freelancers, contractors, and sole traders who want a no-cost, mobile-first business bank account with built-in invoicing and easy accounting integration.
🚫 Who should skip
Businesses that deal with cash, have multiple directors or partners, or need international banking features — you'll quickly outgrow Mettle.
📚 Learning curve
Minimal — the app is intuitive and similar to consumer banking apps, with a short onboarding flow and straightforward invoicing tools.
🧑⚖️ Verdict
If you're a sole trader or a single-director company that operates digitally, Mettle is an exceptional, no-cost choice—especially with the free FreeAgent subscription. However, if you need cash deposits, international banking, or phone support, look elsewhere. Bottom line: Mettle is the best free di
63/100
Free tier
Individuals in Brazil, Mexico, or Colombia who want a free, mobile-first personal bank account and credit card with simp
★ Best
💰 Pricing
🆓 Free tier available
Free tier includes full digital account, debit card, Pix transfers, and credit card with no annual fee (if approved). Cashback program (Nubank Rewards) is optional and requires a separate monthly fee of R$19.00 (approximately $3.80 USD). International transactions and withdrawals are subject to fees.
Fee notes:
- No monthly maintenance fee for Standard account.
- Nubank Rewards cashback program: R$19.00 per month (approx. $3.80 USD).
- International ATM withdrawal fee: R$50.00 per withdrawal (approx. $10.00 USD) in Brazil; fees may vary for Mexico and Colombia.
- International debit/credit card transactions: IOF tax of 4.38% on foreign currency transactions (Brazilian regulation) plus a fixed fee of R$50.00 (approx. $10.00 USD) for international ATM withdrawals; no markup on exchange rate but IOF applies.
- Card replacement fee: Free for standard replacement; express delivery fee may apply (e.g., R$30.00 approx. $6.00 USD).
⚠ Watch for:
- IOF tax of 4.38% on international purchases (Brazilian regulation) is often overlooked.
- International ATM withdrawal fee of R$50.00 (approx. $10.00 USD) per transaction.
- Nubank Rewards program is not free; monthly fee of R$19.00 (approx. $3.80 USD) is charged for the cashback benefit.
- No-fee ATM withdrawals are limited to specific networks; out-of-network ATMs may charge additional fees.
🔧 Features
✓ Free Tier✓ Mobile App✓ Credit Card✓ Personal Loans✓ Crypto Support✓ Latam Focus
📋 Assessment
💪 Strengths
- No maintenance fees: The standard digital account and credit card have zero monthly fees, which is a significant advantage over traditional banks in Latin America that often charge for basic services. This can save users a substantial amount annually, making Nubank an affordable option for everyday banking.
- Excellent mobile experience: The app is highly rated for its intuitive design and smooth performance. Features like instant purchase notifications, one-tap card locking, and easy self-service controls put the user in charge. The chat-based support is integrated directly into the app, so help is never far away, and you can manage everything from your phone without visiting a branch.
- Full credit card control: Users can monitor every transaction, split purchases into installments, and generate virtual cards for added security during online shopping. This flexibility is particularly valuable in markets where installment payments are a common practice, giving users more control over their cash flow.
- Integrated financial ecosystem: Beyond banking, Nubank offers personal loans, cryptocurrency trading (available in Brazil), and insurance products. This consolidation means you can handle multiple financial needs in one app, avoiding the hassle of managing several accounts with different providers. The crypto trading feature is simple and accessible for beginners.
- Strong brand trust: Nubank is a well-established, publicly traded company with over 100 million customers. This scale brings a level of stability and credibility that is reassuring for users, and the company's track record of innovation suggests continued improvements and new features over time.
⚠ Watch out for
- Geographic limitations: Nubank is only available in Brazil, Mexico, and Colombia. If you live outside these countries or travel frequently, you'll need to find another bank. This limits its appeal to a specific regional audience, and there are no signs of imminent expansion to the U.S. or Europe.
- Support is mostly chatbot-based: Customer service is primarily handled through an in-app chat, with limited phone support in most regions. This can be convenient for simple queries, but for complex issues like disputes or account freezes, the lack of human contact can be a major frustration. The bot often loops through generic responses before connecting to a human agent.
- ATM withdrawal fees: While the account is free, there's a monthly limit on free ATM withdrawals. Exceeding that limit incurs charges, which can catch users off guard, especially if they rely on cash withdrawals. It's not a deal-breaker, but it's an extra cost to monitor.
- No physical branches: As a digital bank, Nubank has no physical branches. This is fine for most digital natives, but older or less tech-savvy individuals may miss the ability to walk into a branch for face-to-face assistance. Also, cash deposits require finding partner locations, which may not be as convenient as a bank branch.
- Credit card availability: The no-fee credit card is not automatically given to all applicants; it depends on credit analysis. Some users may be offered a prepaid card or have to wait for approval, which can be disappointing if you're seeking a credit card immediately.
🎯 Best for
Individuals in Brazil, Mexico, or Colombia who want a free, mobile-first personal bank account and credit card with simple, transparent fees and integrated crypto access.
🚫 Who should skip
Businesses, frequent international travelers, or people outside Latin America who need a bank with cross-border banking, robust SME features, or global account access.
📚 Learning curve
Minimal — the app is designed for mass-market use and guides you through account opening, card management, and payments in a straightforward mobile interface.
🧑⚖️ Verdict
Nubank is an excellent digital bank for anyone in Brazil, Mexico, or Colombia who wants a fee-free, modern banking experience with a stellar mobile app. It's particularly well-suited for tech-savvy individuals who handle their finances online and want control over their card and spending. However, i
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
Use CaseMettleNuBank
Invoicing freelancers and sole traders95—
Mettle has built-in invoicing tools that let you create, send, and track invoice
Tracking expenses on the go90—
Receipt capture and automatic expense categorization help sole traders keep pers
Streamlining accounting with an accountant85—
Mettle lets you share access with your accountant and integrates with accounting
Running a single-director limited company75—
Designed for single-director companies, so it works fine for simple one-person L
Businesses that handle cash daily20—
There's no way to deposit cash into Mettle, so retail shops, cafés, or market st
Everyday Personal Banking in Latin America—95
NuBank is built for the region, offering fee-free accounts, instant payments (Pi
No-Fee Credit Card Management—90
The app provides full control over the credit card, including invoicing, install
Cryptocurrency Investing (especially in Brazil)—70
NuBank offers Bitcoin and Ethereum trading directly in the app, making it conven
🧭 Which One Should You Pick?
Choose Mettle if...
- You are: UK based freelancers, contractors, and sole traders who want a no-cost, mobile-first business bank account with built-in
- 👍 No monthly fees, no minimum balance, and no transaction charges for standard UK payments.
- 👍 Built-in invoicing and receipt capture, saving time on everyday admin.
- 👍 FSCS protected up to £85,000 because it's backed by NatWest, adding trust versus unregulated neobank
- 💰 Free tier available
- ⚠ Trade-off: No cash deposit support, making it unsuitable for cash-heavy businesses.
Choose NuBank if...
- You are: Individuals in Brazil, Mexico, or Colombia who want a free, mobile-first personal bank account and credit card with simp
- 👍 No monthly maintenance fees for the standard digital account and credit card, which is rare among tr
- 👍 Highly rated mobile app with intuitive navigation, instant purchase notifications, card locking, and
- 👍 Credit card allows full invoice control, installment splitting, and virtual cards for added security
- 💰 Free tier available
- ⚠ Trade-off: Limited to Brazil, Mexico, and Colombia; not available in the U.S., Europe, or o
❓ Frequently Asked Questions
Is Mettle really free to use?
Yes, Mettle has no monthly fees and no transaction fees for standard UK payments in pounds. You only pay for optional extras or third-party services you choose to connect.
Can I open a Mettle account if I'm a sole trader?
Yes, Mettle is specifically designed for sole traders and single-director limited companies. Partnerships and multi-director companies aren't eligible.
Is my money protected with Mettle?
Mettle is a NatWest brand and your funds are covered by the Financial Services Compensation Scheme (FSCS) up to £85,000. This makes it a safer option than many other neobanks.
Can I pay in cash at Mettle?
No, Mettle doesn't support cash deposits. You can transfer money electronically via bank transfer, Faster Payments, or online transfers from another bank.
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