Is Aldermore or OakNorth better for your small business?
Below we look at both Aldermore and OakNorth reviews on Trustpilot along with their App reviews from Apple and Google.
We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.
Aldermore vs OakNorth Trustpilot Reviews
| Aldermore | OakNorth | |
| Trustpilot Review Score (out of 5) | 4.6 | 4.8 |
| Percent 5-Star Reviews | 80% | 84% |
| Percent 1- Star Reviews | 9% | 3% |
| Total Number of Reviews | 4,424 | 8,904 |
https://www.trustpilot.com/review/www.aldermore.co.uk
https://www.trustpilot.com/review/oaknorth.co.uk
Aldermore vs OakNorth App Reviews
| Aldermore | OakNorth | |
| iPhone Review Score (out of 5) | No Rating | 4.8 |
| Number of iPhone Reviews | No Reviews | 1,600 |
| Android Review Score (out of 5) | No Rating | 4.8 |
| Number of Android Reviews | No Reviews | 468 |
https://www.apple.com/uk/app-store/
https://apps.apple.com/gb/app/oaknorth-savings/id1476387507
Aldermore vs OakNorth Account Fees & Charges
| Aldermore | OakNorth | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | £12.50 | £25 |
| Most Expensive Monthly Account Fee | £30 | £99.99 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 75p / £2 + 2.75% | 70p per £100 |
| Cheques (in/out) | Free | £1 per cheque |
| CHAPS Payments Cost | £30 | £17 |
| SEPA Payments Cost | No | No |
Aldermore vs OakNorth Business Savings Rates
| Aldermore | OakNorth | |
| Types of Business Savings Accounts | Fixed rate, Easy access | Fixed Term, Notice Accounts, Easy Access |
| Lowest Savings Rate (AER) | 3.25% | 3.85% |
| Maximum Savings Rate (AER) | 4.60% | 3.85% |
| Minimum Savings Amount | £1,000 | £10,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Aldermore vs OakNorth Account Opening Times
| Aldermore | OakNorth | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 2 minutes | Few minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | No |
Aldermore vs OakNorth Features & Account Types
| Aldermore | OakNorth | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | No | Yes |
| Accounts For Sole Traders | No | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Mastercard | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | No | Yes |
| In Person/Branch Banking | No | No |
| Branch Locations | None, online and phone only | None, online and phone only |
Aldermore vs OakNorth Customer Support Options
| Aldermore | OakNorth | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | No | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | No | No |
Aldermore vs OakNorth Foreign Currency Accounts
| Aldermore | OakNorth | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Aldermore and OakNorth
| Aldermore | OakNorth | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Aldermore vs OakNorth Banking Basics
| Aldermore | OakNorth | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 204503 | 629564 |
| Website | Aldermore Website | OakNorth Website |
Common Comparison Questions
Does Aldermore or OakNorth have better customer reviews?
Aldermore scores 4.6 out of 5 based 4,424 Trustpilot reviews. Of these reviews 80% are 5-star and 9% are 1-star.
Whereas, OakNorth scores 4.8 out of 5 based 8,904 Trustpilot reviews. Of which 84% are 5-star and 3% are 1-star.
Does Aldermore or OakNorth have a better App?
Aldermore’s iPhone App is rated No Rating out of 5 based on No Reviews reviews. And it’s Android App is rated No Rating out of 5 based on No Reviews reviews.
In comparison, OakNorth’s iPhone App is rated 4.8 out of 5 based on 1,600 reviews. And it’s Android App is rated 4.8 out of 5 based on 468 reviews.
Does Aldermore or OakNorth have better business savings rates?
Aldermore offers the following types of business savings accounts: Fixed rate, Easy access with interest rates ranging from 3.25% to 4.60%. (AER)
In contrast, OakNorth offers Fixed Term, Notice Accounts, Easy Access accounts with interest rates ranging from 3.85% to 3.85% (AER).
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For other business bank accounts see our guide here.