Is Anna or Redwood Bank better for your small business?
Below we look at both Anna and Redwood 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.
Anna vs Redwood Bank Trustpilot Reviews
| Anna | Redwood Bank | |
| Trustpilot Review Score (out of 5) | 4.6 | 2.9 |
| Percent 5-Star Reviews | 85% | 46% |
| Percent 1- Star Reviews | 8% | 39% |
| Total Number of Reviews | 2,677 | 13 |
https://www.trustpilot.com/review/anna.money
https://www.trustpilot.com/review/redwoodbank.co.uk
Anna vs Redwood Bank App Reviews
| Anna | Redwood Bank | |
| iPhone Review Score (out of 5) | 4.5 | No Rating |
| Number of iPhone Reviews | 846 | No Reviews |
| Android Review Score (out of 5) | 3.9 | No Rating |
| Number of Android Reviews | 1,300 | No Reviews |
https://apps.apple.com/gb/app/anna-business-account-tax/id1333008275
https://www.apple.com/uk/app-store/
Anna vs Redwood Bank Account Fees & Charges
| Anna | Redwood Bank | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 1 Month | NA |
| Cheapest Monthly Account Fee | £14.90 | £10 |
| Most Expensive Monthly Account Fee | £49.90 | £15 |
| Electronic Payment Cost (in/out) | 20p | Free |
| Cash Payments Cost (in/out) | £1 | 70p per £100 |
| Cheques (in/out) | Free | £1 |
| CHAPS Payments Cost | No | £25 |
| SEPA Payments Cost | No | No |
Anna vs Redwood Bank Business Savings Rates
| Anna | Redwood Bank | |
| Types of Business Savings Accounts | None | Fixed Term, Notice Savings |
| Lowest Savings Rate (AER) | NA | 3.75% |
| Maximum Savings Rate (AER) | NA | 4.70% |
| Minimum Savings Amount | NA | £10,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Anna vs Redwood Bank Account Opening Times
| Anna | Redwood Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 3 minutes | Few minutes |
| Do They Check Your Credit? | No | No |
| Current Account Switch Service | No | No |
Anna vs Redwood Bank Features & Account Types
| Anna | Redwood Bank | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | No | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | No | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | No | No |
| Card Type | Mastercard | None |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | No |
| In Person/Branch Banking | No | No |
| Branch Locations | None, online only | Letchworth Garden City, and Warrington |
Anna vs Redwood Bank Customer Support Options
| Anna | Redwood Bank | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | No |
| Web Based Support | Yes | Yes |
| In person Customer Support | No | No |
Anna vs Redwood Bank Foreign Currency Accounts
| Anna | Redwood Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Anna and Redwood Bank
| Anna | Redwood Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | No | Yes |
| Invoice Financing | No | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Anna vs Redwood Bank Banking Basics
| Anna | Redwood Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | No | Yes, up to £85,000 |
| FCA Number | 789333 | 755924 |
| Website | Anna Website | Redwood Bank Website |
Common Comparison Questions
Does Anna or Redwood Bank have better customer reviews?
Anna scores 4.6 out of 5 based 2,677 Trustpilot reviews. Of these reviews 85% are 5-star and 8% are 1-star.
Whereas, Redwood Bank scores 2.9 out of 5 based 13 Trustpilot reviews. Of which 46% are 5-star and 39% are 1-star.
Does Anna or Redwood Bank have a better App?
Anna’s iPhone App is rated 4.5 out of 5 based on 846 reviews. And it’s Android App is rated 3.9 out of 5 based on 1,300 reviews.
In comparison, Redwood Bank’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.
Does Anna or Redwood Bank have better business savings rates?
Anna offers the following types of business savings accounts: None with interest rates ranging from NA to NA. (AER)
In contrast, Redwood Bank offers Fixed Term, Notice Savings accounts with interest rates ranging from 3.75% to 4.70% (AER).
See Other Comparisons:Anna vs Amaiz
Anna vs ICICI Bank UK
Anna vs Intergiro
Anna vs GoSolo
Anna vs 3S Money
For other business bank accounts see our guide here.