Is Allica Bank or Reliance Bank better for your small business?
Below we look at both Allica Bank and Reliance Bank 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.
Allica Bank vs Reliance Bank Trustpilot Reviews
| Allica Bank | Reliance Bank | |
| Trustpilot Review Score (out of 5) | 4.5 | 3.4 |
| Percent 5-Star Reviews | 76% | 25% |
| Percent 1- Star Reviews | 6% | 25% |
| Total Number of Reviews | 815 | 4 |
https://www.trustpilot.com/review/www.allica.bank
https://www.trustpilot.com/review/www.reliancebankltd.com
Allica Bank vs Reliance Bank App Reviews
| Allica Bank | Reliance Bank | |
| iPhone Review Score (out of 5) | 4.8 | 4.7 |
| Number of iPhone Reviews | 503 | 451 |
| Android Review Score (out of 5) | 4.4 | 4 |
| Number of Android Reviews | 107 | 144 |
https://apps.apple.com/gb/app/allica-bank/id1489138340
https://apps.apple.com/us/app/reliance-bank-mobile-banking/id1050676219
Allica Bank vs Reliance Bank Account Fees & Charges
| Allica Bank | Reliance Bank | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | No | £7.50 |
| Most Expensive Monthly Account Fee | No | £7.50 |
| Electronic Payment Cost (in/out) | Free | 25p |
| Cash Payments Cost (in/out) | Free | 30p / 25p per £100 |
| Cheques (in/out) | Unknown | 30p / 25p |
| CHAPS Payments Cost | £20 | £15 |
| SEPA Payments Cost | No | 25p |
Allica Bank vs Reliance Bank Business Savings Rates
| Allica Bank | Reliance Bank | |
| Types of Business Savings Accounts | Easy Access, Notice Account | Instant Access, Fixed Term, Notice Savings |
| Lowest Savings Rate (AER) | 3.65% | 2.15% |
| Maximum Savings Rate (AER) | 5.10% | 4.40% |
| Minimum Savings Amount | £20,000 | £1,000 |
| Interest Paid On Foreign Currencies | No | Yes |
Allica Bank vs Reliance Bank Account Opening Times
| Allica Bank | Reliance Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 3 to 5 Working days | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Allica Bank vs Reliance Bank Features & Account Types
| Allica Bank | Reliance Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | No | No |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | No | No |
| Accounts For Charities | No | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | No | Yes |
| Card Type | Visa | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | Milton Keynes, London and Manchester | London |
Allica Bank vs Reliance Bank Customer Support Options
| Allica Bank | Reliance Bank | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | Yes |
Allica Bank vs Reliance Bank Foreign Currency Accounts
| Allica Bank | Reliance Bank | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | No | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Allica Bank and Reliance Bank
| Allica Bank | Reliance Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Allica Bank vs Reliance Bank Banking Basics
| Allica Bank | Reliance Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 821851 | 204537 |
| Website | Allica Bank Website | Reliance Bank Website |
Common Comparison Questions
Does Allica Bank or Reliance Bank have better customer reviews?
Allica Bank scores 4.5 out of 5 based 815 Trustpilot reviews. Of these reviews 76% are 5-star and 6% are 1-star.
Whereas, Reliance Bank scores 3.4 out of 5 based 4 Trustpilot reviews. Of which 25% are 5-star and 25% are 1-star.
Does Allica Bank or Reliance Bank have a better App?
Allica Bank’s iPhone App is rated 4.8 out of 5 based on 503 reviews. And it’s Android App is rated 4.4 out of 5 based on 107 reviews.
In comparison, Reliance Bank’s iPhone App is rated 4.7 out of 5 based on 451 reviews. And it’s Android App is rated 4 out of 5 based on 144 reviews.
Does Allica Bank or Reliance Bank have better business savings rates?
Allica Bank offers the following types of business savings accounts: Easy Access, Notice Account with interest rates ranging from 3.65% to 5.10%. (AER)
In contrast, Reliance Bank offers Instant Access, Fixed Term, Notice Savings accounts with interest rates ranging from 2.15% to 4.40% (AER).
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For other business bank accounts see our guide here.