Is Cater Allen or Redwood Bank better for your small business?
Below we look at both Cater Allen 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.
Cater Allen vs Redwood Bank Trustpilot Reviews
| Cater Allen | Redwood Bank | |
| Trustpilot Review Score (out of 5) | 1.9 | 2.9 |
| Percent 5-Star Reviews | 7% | 46% |
| Percent 1- Star Reviews | 80% | 39% |
| Total Number of Reviews | 136 | 13 |
https://www.trustpilot.com/review/www.caterallen.co.uk
https://www.trustpilot.com/review/redwoodbank.co.uk
Cater Allen vs Redwood Bank App Reviews
| Cater Allen | Redwood Bank | |
| iPhone Review Score (out of 5) | No Rating | No Rating |
| Number of iPhone Reviews | No Reviews | No Reviews |
| Android Review Score (out of 5) | No Rating | No Rating |
| Number of Android Reviews | No Reviews | No Reviews |
https://www.apple.com/uk/app-store/
https://www.apple.com/uk/app-store/
Cater Allen vs Redwood Bank Account Fees & Charges
| Cater Allen | Redwood Bank | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | Free | £10 |
| Most Expensive Monthly Account Fee | £25 | £15 |
| Electronic Payment Cost (in/out) | £2 | Free |
| Cash Payments Cost (in/out) | Free | 70p per £100 |
| Cheques (in/out) | £6 | £1 |
| CHAPS Payments Cost | £25 | £25 |
| SEPA Payments Cost | £2 | No |
Cater Allen vs Redwood Bank Business Savings Rates
| Cater Allen | Redwood Bank | |
| Types of Business Savings Accounts | Fixed Term, Notice Account | Fixed Term, Notice Savings |
| Lowest Savings Rate (AER) | 3.00% | 3.75% |
| Maximum Savings Rate (AER) | 4.70% | 4.70% |
| Minimum Savings Amount | No | £10,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Cater Allen vs Redwood Bank Account Opening Times
| Cater Allen | Redwood Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 days | Few minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | No | No |
Cater Allen vs Redwood Bank Features & Account Types
| Cater Allen | Redwood Bank | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | Yes |
| Business Credit Card | No | No |
| Business Overdraft | No | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Mastercard | None |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | No |
| In Person/Branch Banking | No | No |
| Branch Locations | None, online and phone only | Letchworth Garden City, and Warrington |
Cater Allen vs Redwood Bank Customer Support Options
| Cater Allen | Redwood Bank | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | No | No |
| Web Based Support | Yes | Yes |
| In person Customer Support | No | No |
Cater Allen vs Redwood Bank Foreign Currency Accounts
| Cater Allen | Redwood Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Cater Allen and Redwood Bank
| Cater Allen | Redwood Bank | |
| Business Loans | No | 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 |
Cater Allen vs Redwood Bank Banking Basics
| Cater Allen | Redwood Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 178737 | 755924 |
| Website | Cater Allen Website | Redwood Bank Website |
Common Comparison Questions
Does Cater Allen or Redwood Bank have better customer reviews?
Cater Allen scores 1.9 out of 5 based 136 Trustpilot reviews. Of these reviews 7% are 5-star and 80% 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 Cater Allen or Redwood Bank have a better App?
Cater Allen’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, 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 Cater Allen or Redwood Bank have better business savings rates?
Cater Allen offers the following types of business savings accounts: Fixed Term, Notice Account with interest rates ranging from 3.00% to 4.70%. (AER)
In contrast, Redwood Bank offers Fixed Term, Notice Savings accounts with interest rates ranging from 3.75% to 4.70% (AER).
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For other business bank accounts see our guide here.