Is Barclays or OakNorth better for your small business?
Below we look at both Barclays 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.
Barclays vs OakNorth Trustpilot Reviews
| Barclays | OakNorth | |
| Trustpilot Review Score (out of 5) | 1.4 | 4.8 |
| Percent 5-Star Reviews | 8% | 84% |
| Percent 1- Star Reviews | 86% | 3% |
| Total Number of Reviews | 9,859 | 8,904 |
https://www.trustpilot.com/review/www.barclays.co.uk
https://www.trustpilot.com/review/oaknorth.co.uk
Barclays vs OakNorth App Reviews
| Barclays | OakNorth | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,700,000 | 1,600 |
| Android Review Score (out of 5) | 4.8 | 4.8 |
| Number of Android Reviews | 506,000 | 468 |
https://apps.apple.com/gb/app/barclays/id536248734
https://apps.apple.com/gb/app/oaknorth-savings/id1476387507
Barclays vs OakNorth Account Fees & Charges
| Barclays | OakNorth | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £8.50 | £25 |
| Most Expensive Monthly Account Fee | £8.50 | £99.99 |
| Electronic Payment Cost (in/out) | Free (up to 500 per month; 35p after) | Free |
| Cash Payments Cost (in/out) | 60p per £100/Free | 70p per £100 |
| Cheques (in/out) | 60p each/60p each | £1 per cheque |
| CHAPS Payments Cost | £15 | £17 |
| SEPA Payments Cost | 35p | No |
Barclays vs OakNorth Business Savings Rates
| Barclays | OakNorth | |
| Types of Business Savings Accounts | Instant access, Fixed-term Treasury Reserve Accounts | Fixed Term, Notice Accounts, Easy Access |
| Lowest Savings Rate (AER) | 1.51% | 3.85% |
| Maximum Savings Rate (AER) | 1.96% | 3.85% |
| Minimum Savings Amount | £1 | £10,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Barclays vs OakNorth Account Opening Times
| Barclays | OakNorth | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Up to 7 Working Days | Few minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | No |
Barclays vs OakNorth Features & Account Types
| Barclays | OakNorth | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes, via Barclaycard | No |
| 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 | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | No |
| Branch Locations | UK-wide | None, online and phone only |
Barclays vs OakNorth Customer Support Options
| Barclays | OakNorth | |
| 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 | No |
Barclays vs OakNorth Foreign Currency Accounts
| Barclays | OakNorth | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Barclays and OakNorth
| Barclays | OakNorth | |
| 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 | No |
| Free Accounting Software | Yes, FreshBooks | No |
Barclays vs OakNorth Banking Basics
| Barclays | OakNorth | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 122702 | 629564 |
| Website | Barclays Website | OakNorth Website |
Common Comparison Questions
Does Barclays or OakNorth 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, OakNorth scores 4.8 out of 5 based 8,904 Trustpilot reviews. Of which 84% are 5-star and 3% are 1-star.
Does Barclays or OakNorth 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, 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 Barclays or OakNorth 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, 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.