ComparisonLast checked 8 November 2026

Incard vs Mettle: which suits your business?

Incard is an e-money account that pays uncapped cashback on eligible card spend on a £0 plan, with team cards and GBP, EUR and USD IBANs. A free business account from NatWest for sole traders and small limited companies, with invoicing and FreeAgent accounting included.

By the editorial team. How we make money.

Incard suits you if

You spend thousands a month on cards, especially on advertising, software or travel
You want card cashback, which Mettle doesn't list
You want a euro account, which Mettle doesn't list
You want a US dollar account, which Mettle doesn't list
You're comfortable with safeguarding instead of FSCS cover

Mettle suits you if

You want a free account from NatWest with FSCS cover
You want invoicing and FreeAgent accounting included
You're a sole trader, or a company with one or two owners

What a year of card spending earns you

Incard Free against Mettle's cheapest plan, at your monthly spend on ads, software and travel.

Monthly card spend on ads, software and travel£5,000

£600 a year better off with Incard

Incard Free: £600 cashback, £0 fees
Mettle's cheapest plan: no cashback, £0 fees

Simple arithmetic, not a forecast: 1% on eligible ads, software and travel spend at merchants on Incard's eligible brand list, and each plan's published monthly fee. Other fees, such as FX and ATM charges, aren't included. Mettle's cheapest plan: No fee for maintaining the account.

Why we pick Incard over Mettle for card spend

Card cashback: Incard: Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped. Mettle: Not listed.
Currencies you can hold: Incard: GBP, EUR and USD, with IBANs. Mettle: Not listed.
Card payments in other currencies: Incard: 1.8% on Free, 1.5% on Grow and Plus. Mettle: Not listed.

cashback a year on Incard's £0 Free plan from £5,000 a month of eligible ads, software and travel spend. Simple arithmetic, not a forecast.

£600

Apply for Incard on incard.co

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At a glance

**Table notes:** correct as of 8 November 2026, from each provider's own pages listed under Sources. “Not listed” means the provider's pages we checked don't say.
	Incard	Mettle
Type and protection	E-money · safeguarded, no FSCS	Bank · FSCS cover
Who can open one	UK sole traders, UK limited companies, LLPs, Swiss GmbHs and AGs and Swiss sole traders	UK sole traders and UK limited companies
Cheapest plan	Free: £0 a month	No fee for maintaining the account
Plans (monthly)	Free £0, Grow £49, Plus from £199	No account fee; Mettle+ £4 a month
Card cashback	Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped	Not listed
Card payments in other currencies	1.8% on Free, 1.5% on Grow and Plus	Not listed
Domestic transfers	100 included on Free, 250 on Grow, then £0.30 each	Not listed
International transfers	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)	Inbound over £10: £4 plus 1.5% if converted to GBP
ATM withdrawals	2% in the UK, 2.5% abroad	£1 per withdrawal
Cash deposits	Not listed	£2.75 per Post Office deposit
Currencies you can hold	GBP, EUR and USD, with IBANs	Not listed
Accepting card payments	Not listed	Not listed

Where they differ

Based on what each provider lists on its own pages. If a feature isn't listed, check with the provider before you rule it out.

Only Incard lists card cashback, a euro account, a US dollar account, cards for your team, accounts for LLPs, accounts for Swiss GmbHs and AGs and accounts for Swiss sole traders.
Only Mettle lists cash deposits and invoicing.

What each one is, and who can open one

Incard

Incard Ltd is authorised by the FCA as an electronic money institution (firm reference number 1027309). It is not a bank. Safeguarded: Incard keeps customer funds separate from its own money, in accounts with authorised credit institutions, and doesn't lend or invest them. Funds are not protected by the FSCS.

Who can open one: UK limited companies and LLPs, UK sole traders and freelancers registered with their local authority, and Swiss GmbH, AG and sole-trader businesses. EEA onboarding is paused until an expected restart in 2027. Public sector bodies, cooperatives, charities, foundations and trusts aren't accepted, and a long list of industries is restricted. Full Incard profile.

Mettle

The Mettle bank account is provided by National Westminster Bank plc (FRN 121878), trading as Mettle. Eligible deposits are protected up to £120,000 by the FSCS. Some older Mettle e-money accounts, provided by PrePay Technologies (FRN 900010), are safeguarded instead and not FSCS-protected.

Who can open one: Sole traders and limited companies with up to two owners, of whom only one can access the account. One account per person. Full Mettle profile.

Our e-money vs bank account guide explains what safeguarding and FSCS cover mean if a provider fails.

When Incard isn't the answer

Incard isn't the right account if

Your business is registered outside the UK and Switzerland. EEA onboarding is paused until an expected restart in 2027
You're a charity, cooperative, foundation, trust or public body, or work in one of Incard's restricted industries

Our pick for card spend

Open an Incard account

Check the eligibility rules first.

E-money · safeguarded, no FSCS

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