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

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

Below we look at both Co-operative Bank and Reliance 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 Reliance Bank Trustpilot Reviews

	Co-operative Bank	Reliance Bank
Trustpilot Review Score (out of 5)	4.2	3.4
Percent 5-Star Reviews	51%	25%
Percent 1- Star Reviews	39%	25%
Total Number of Reviews	7,699	4

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

Co-operative Bank vs Reliance Bank App Reviews

	Co-operative Bank	Reliance Bank
iPhone Review Score (out of 5)	4.7	4.7
Number of iPhone Reviews	47,800	451
Android Review Score (out of 5)	4.3	4
Number of Android Reviews	33,000	144

Sources:
https://apps.apple.com/gb/app/co-operative-bank/id1439204021
https://apps.apple.com/us/app/reliance-bank-mobile-banking/id1050676219

Co-operative Bank vs Reliance Bank Account Fees & Charges

	Co-operative Bank	Reliance Bank
Free Business Bank Account	Yes	No
Free Business Account Term Length	30 Months	NA
Cheapest Monthly Account Fee	Free	£7.50
Most Expensive Monthly Account Fee	Free	£7.50
Electronic Payment Cost (in/out)	Free	25p
Cash Payments Cost (in/out)	£1.50 per £100	30p / 25p per £100
Cheques (in/out)	£1.50	30p / 25p
CHAPS Payments Cost	£25	£15
SEPA Payments Cost	No	25p

Co-operative Bank vs Reliance Bank Business Savings Rates

	Co-operative Bank	Reliance Bank
Types of Business Savings Accounts	Instant access, 35+ day, 95+ day	Instant Access, Fixed Term, Notice Savings
Lowest Savings Rate (AER)	1.63%	2.15%
Maximum Savings Rate (AER)	2.51%	4.40%
Minimum Savings Amount	No	£1,000
Interest Paid On Foreign Currencies	No	Yes

Co-operative Bank vs Reliance Bank Account Opening Times

	Co-operative Bank	Reliance Bank
Can You Apply Online?	Yes	Yes
How Long Does Opening An Account Typically Take?	5 Working days	7 Working days
Do They Check Your Credit?	Yes	Yes
Current Account Switch Service	Yes	Yes

Co-operative Bank vs Reliance Bank Features & Account Types

Co-operative Bank Account Types — *Co-operative Bank Features & Account Types*

Reliance Bank Account Types — *Reliance Bank Features & Account Types*

	Co-operative Bank	Reliance 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	Yes
Accounts For Sole Traders	Yes	Yes
Joint Business Accounts Available	Yes	Yes
Card Type	Visa	Mastercard
Online Banking	Yes	Yes
Mobile Banking	Yes	Yes
In Person/Branch Banking	Yes	Yes
Branch Locations	Limited locations accross the UK	London

Co-operative Bank vs Reliance Bank Customer Support Options

	Co-operative Bank	Reliance 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 Reliance Bank Foreign Currency Accounts

	Co-operative Bank	Reliance Bank
US Dollar (USD) Bank Accounts	Yes	Yes
Euro (EUR) Bank Accounts	Yes	Yes
Other Currencies Available:	No	Australian Dollar (AUD) Canadian Dollar (CAD) New Zealand Dollar (NZD) Singapore Dollar (SGD) Swiss Franc (CHF) Japanese Yen (JPY)

Other Business Services From Co-operative Bank and Reliance Bank

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

Co-operative Bank vs Reliance Bank Banking Basics

	Co-operative Bank	Reliance Bank
Bank Type	High Street	Challenger
FSCS Protection	Yes, up to £85,000	Yes, up to £85,000
FCA Number	990937	204537
Website	Co-operative Bank Website	Reliance Bank Website

Common Comparison Questions

Does Co-operative Bank or Reliance 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, Reliance Bank scores 3.4 out of 5 based 4 Trustpilot reviews. Of which 25% are 5-star and 25% are 1-star.

Does Co-operative Bank or Reliance 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, Reliance Bank’s iPhone App is rated 4.7 out of 5 based on 451 reviews. And it’s Android App is rated 4 out of 5 based on 144 reviews.

Does Co-operative Bank or Reliance 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, Reliance Bank offers Instant Access, Fixed Term, Notice Savings accounts with interest rates ranging from 2.15% to 4.40% (AER).

See Other Comparisons:
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For other business bank accounts see our guide here.

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