NatWest’s Online Business Bank, Mettle, Gives Free Access to FreeAgent’s Accounting Software

Back in the year 2018, the Royal Bank of Scotland (RBS) (now renamed as NatWest) acquired FreeAgent for GBP 53 million.

Sole traders, freelancers, and Small and Medium-Sized Enterprises (SMEs) will earn the benefits of handling their accounting work through FreeAgent.

Linking up of Mettle and FreeAgent accounts will help businesses to save at least GBP 150 a year, which equals to the cost of an annual FreeAgent subscription.

Subscription to FreeAgent account for Mettle’s new and existing users will be available free of cost and can be done directly via the company’s app. The registration process will not take more than a few seconds.

Advance features like monitoring tax flows, check tax due dates, forecast corporation tax, automate VAT returns is just one click away for FreeAgent users. It also helps the user to check income, expenses, and profitability performances.

The latest Application Program Interface (API) technology plays a major role in bringing out a transaction between the two apps easily.

This newest offering complements the UK banking group’s program for SMBs (Small and Medium-sized Businesses) following the Coronavirus (COVID-19) outbreak.

The bank stated in a blog post, “This marks the first step in our partnership with FreeAgent so watch this space for exciting next steps.”

The collaboration between Mettle-FreeAgent can be considered as a major initiative from NatWest that will prove helpful for small businesses to fight against the COVID-19 pandemic. Participating in the UK government’s ‘Coronavirus Business Interruption Scheme’ and the announcement of contributing GBP 5 billion in support of Small Business Enterprise (SME) are major steps taken by NatWest.

NatWest, to help SME customers, has taken an initiative to waive off the monthly hire fees for Point-of-Sale (POS) terminals from its payments product Tyl in response to the COVID-19 pandemic by the end of this year.