Is Barclays or Lloyds Bank better for your small business?
Below we look at both Barclays and Lloyds 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.
Barclays vs Lloyds Bank Trustpilot Reviews
| Barclays | Lloyds Bank | |
| Trustpilot Review Score (out of 5) | 1.4 | 1.7 |
| Percent 5-Star Reviews | 8% | 13% |
| Percent 1- Star Reviews | 86% | 79% |
| Total Number of Reviews | 9,859 | 4,311 |
https://www.trustpilot.com/review/www.barclays.co.uk
https://www.trustpilot.com/review/lloydsbank.com
Barclays vs Lloyds Bank App Reviews
| Barclays | Lloyds Bank | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,700,000 | 1,900,000 |
| Android Review Score (out of 5) | 4.8 | 4.6 |
| Number of Android Reviews | 506,000 | 317,000 |
https://apps.apple.com/gb/app/barclays/id536248734
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
Barclays vs Lloyds Bank Account Fees & Charges
| Barclays | Lloyds Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | 12 Months |
| Cheapest Monthly Account Fee | £8.50 | £8.50 |
| Most Expensive Monthly Account Fee | £8.50 | £8.50 |
| Electronic Payment Cost (in/out) | Free (up to 500 per month; 35p after) | Free / 20p |
| Cash Payments Cost (in/out) | 60p per £100/Free | £85p / £1.50 per £100 |
| Cheques (in/out) | 60p each/60p each | 85p per cheque |
| CHAPS Payments Cost | £15 | £30 |
| SEPA Payments Cost | 35p | £5 |
Barclays vs Lloyds Bank Business Savings Rates
| Barclays | Lloyds Bank | |
| Types of Business Savings Accounts | Instant access, Fixed-term Treasury Reserve Accounts | Fixed Term Deposit, Instant access account, Notice accounts |
| Lowest Savings Rate (AER) | 1.51% | 1.31% |
| Maximum Savings Rate (AER) | 1.96% | 4.37% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Barclays vs Lloyds Bank Account Opening Times
| Barclays | Lloyds Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Up to 7 Working Days | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Barclays vs Lloyds Bank Features & Account Types
| Barclays | Lloyds Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes, via Barclaycard | Yes |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | UK-wide | UK-wide |
Barclays vs Lloyds Bank Customer Support Options
| Barclays | Lloyds 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 |
Barclays vs Lloyds Bank Foreign Currency Accounts
| Barclays | Lloyds Bank | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
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Other Business Services From Barclays and Lloyds Bank
| Barclays | Lloyds Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes, via Barclaycard | Yes |
| Card Machines | Yes, via Barclaycard | Yes |
| Free Accounting Software | Yes, FreshBooks | Yes |
Barclays vs Lloyds Bank Banking Basics
| Barclays | Lloyds Bank | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 122702 | 119278 |
| Website | Barclays Website | Lloyds Bank Website |
Common Comparison Questions
Does Barclays or Lloyds Bank have better customer reviews?
Barclays scores 1.4 out of 5 based 9,859 Trustpilot reviews. Of these reviews 8% are 5-star and 86% are 1-star.
Whereas, Lloyds Bank scores 1.7 out of 5 based 4,311 Trustpilot reviews. Of which 13% are 5-star and 79% are 1-star.
Does Barclays or Lloyds Bank have a better App?
Barclays’s iPhone App is rated 4.8 out of 5 based on 1,700,000 reviews. And it’s Android App is rated 4.8 out of 5 based on 506,000 reviews.
In comparison, Lloyds Bank’s iPhone App is rated 4.8 out of 5 based on 1,900,000 reviews. And it’s Android App is rated 4.6 out of 5 based on 317,000 reviews.
Does Barclays or Lloyds Bank have better business savings rates?
Barclays offers the following types of business savings accounts: Instant access, Fixed-term Treasury Reserve Accounts with interest rates ranging from 1.51% to 1.96%. (AER)
In contrast, Lloyds Bank offers Fixed Term Deposit, Instant access account, Notice accounts accounts with interest rates ranging from 1.31% to 4.37% (AER).
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For other business bank accounts see our guide here.