Co-operative Bank VS Allica Bank: Business Banking Review & Fee Comparison

Is Co-operative Bank or Allica Bank better for your small business?

Below we look at both Co-operative Bank and Allica 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.

Co-operative Bank vs Allica Bank Trustpilot Reviews

	Co-operative Bank	Allica Bank
Trustpilot Review Score (out of 5)	4.2	4.5
Percent 5-Star Reviews	51%	76%
Percent 1- Star Reviews	39%	6%
Total Number of Reviews	7,699	815

Sources:
https://www.trustpilot.com/review/co-operativebank.co.uk
https://www.trustpilot.com/review/www.allica.bank

Co-operative Bank vs Allica Bank App Reviews

	Co-operative Bank	Allica Bank
iPhone Review Score (out of 5)	4.7	4.8
Number of iPhone Reviews	47,800	503
Android Review Score (out of 5)	4.3	4.4
Number of Android Reviews	33,000	107

Sources:
https://apps.apple.com/gb/app/co-operative-bank/id1439204021
https://apps.apple.com/gb/app/allica-bank/id1489138340

Co-operative Bank vs Allica Bank Account Fees & Charges

	Co-operative Bank	Allica Bank
Free Business Bank Account	Yes	No
Free Business Account Term Length	30 Months	NA
Cheapest Monthly Account Fee	Free	No
Most Expensive Monthly Account Fee	Free	No
Electronic Payment Cost (in/out)	Free	Free
Cash Payments Cost (in/out)	£1.50 per £100	Free
Cheques (in/out)	£1.50	Unknown
CHAPS Payments Cost	£25	£20
SEPA Payments Cost	No	No

Co-operative Bank vs Allica Bank Business Savings Rates

	Co-operative Bank	Allica Bank
Types of Business Savings Accounts	Instant access, 35+ day, 95+ day	Easy Access, Notice Account
Lowest Savings Rate (AER)	1.63%	3.65%
Maximum Savings Rate (AER)	2.51%	5.10%
Minimum Savings Amount	No	£20,000
Interest Paid On Foreign Currencies	No	No

Co-operative Bank vs Allica Bank Account Opening Times

	Co-operative Bank	Allica Bank
Can You Apply Online?	Yes	Yes
How Long Does Opening An Account Typically Take?	5 Working days	3 to 5 Working days
Do They Check Your Credit?	Yes	Yes
Current Account Switch Service	Yes	Yes

Co-operative Bank vs Allica Bank Features & Account Types

	Co-operative Bank	Allica Bank
Business Current Account	Yes	Yes
Business Savings Account	Yes	Yes
Business Credit Card	Yes	No
Business Overdraft	Yes	Yes
Accounts For Startups	Yes	No
Accounts For Charities	Yes	No
Accounts For Sole Traders	Yes	Yes
Joint Business Accounts Available	Yes	No
Card Type	Visa	Visa
Online Banking	Yes	Yes
Mobile Banking	Yes	Yes
In Person/Branch Banking	Yes	Yes
Branch Locations	Limited locations accross the UK	Milton Keynes, London and Manchester

Co-operative Bank vs Allica Bank Customer Support Options

	Co-operative Bank	Allica 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

Co-operative Bank vs Allica Bank Foreign Currency Accounts

	Co-operative Bank	Allica Bank
US Dollar (USD) Bank Accounts	Yes	No
Euro (EUR) Bank Accounts	Yes	No
Other Currencies Available:	No	No

Other Business Services From Co-operative Bank and Allica Bank

	Co-operative Bank	Allica Bank
Business Loans	Yes	Yes
Commercial Mortgages	Yes	Yes
Invoice Financing	Yes	Yes
International Payments	Yes	Yes
Merchant Payment Services	Yes	No
Card Machines	No	No
Free Accounting Software	Yes	No

Co-operative Bank vs Allica Bank Banking Basics

	Co-operative Bank	Allica Bank
Bank Type	High Street	Challenger
FSCS Protection	Yes, up to £85,000	Yes, up to £85,000
FCA Number	990937	821851
Website	Co-operative Bank Website	Allica Bank Website

Common Comparison Questions

Does Co-operative Bank or Allica Bank have better customer reviews?

Co-operative Bank scores 4.2 out of 5 based 7,699 Trustpilot reviews. Of these reviews 51% are 5-star and 39% are 1-star.

Whereas, Allica Bank scores 4.5 out of 5 based 815 Trustpilot reviews. Of which 76% are 5-star and 6% are 1-star.

Does Co-operative Bank or Allica Bank have a better App?

Co-operative Bank’s iPhone App is rated 4.7 out of 5 based on 47,800 reviews. And it’s Android App is rated 4.3 out of 5 based on 33,000 reviews.

In comparison, 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.

Does Co-operative Bank or Allica Bank have better business savings rates?

Co-operative Bank offers the following types of business savings accounts: Instant access, 35+ day, 95+ day with interest rates ranging from 1.63% to 2.51%. (AER)

In contrast, Allica Bank offers Easy Access, Notice Account accounts with interest rates ranging from 3.65% to 5.10% (AER).

See Other Comparisons:
Co-operative Bank vs Cater Allen
Co-operative Bank vs AIB (Allied Irish Bank)
Co-operative Bank vs Unity Trust
Co-operative Bank vs United Trust Bank
Co-operative Bank vs HSBC Kinetic


For other business bank accounts see our guide here.