Is Handelsbanken or Allica Bank better for your small business?
Below we look at both Handelsbanken 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.
Handelsbanken vs Allica Bank Trustpilot Reviews
| Handelsbanken | Allica Bank | |
| Trustpilot Review Score (out of 5) | 2.3 | 4.5 |
| Percent 5-Star Reviews | 33% | 76% |
| Percent 1- Star Reviews | 55% | 6% |
| Total Number of Reviews | 124 | 815 |
https://www.trustpilot.com/review/handelsbanken.co.uk
https://www.trustpilot.com/review/www.allica.bank
Handelsbanken vs Allica Bank App Reviews
| Handelsbanken | Allica Bank | |
| iPhone Review Score (out of 5) | 2.6 | 4.8 |
| Number of iPhone Reviews | 17 | 503 |
| Android Review Score (out of 5) | 1.6 | 4.4 |
| Number of Android Reviews | 6 | 107 |
https://apps.apple.com/gb/app/handelsbanken-uk-corporate/id1122527533
https://apps.apple.com/gb/app/allica-bank/id1489138340
Handelsbanken vs Allica Bank Account Fees & Charges
| Handelsbanken | Allica Bank | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | £5 | No |
| Most Expensive Monthly Account Fee | £20 | No |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 30p | Free |
| Cheques (in/out) | £1.50 | Unknown |
| CHAPS Payments Cost | £15 | £20 |
| SEPA Payments Cost | 25p | No |
Handelsbanken vs Allica Bank Business Savings Rates
| Handelsbanken | Allica Bank | |
| Types of Business Savings Accounts | Instant Access, Fixed Term, Notice Savings | Easy Access, Notice Account |
| Lowest Savings Rate (AER) | No | 3.65% |
| Maximum Savings Rate (AER) | No | 5.10% |
| Minimum Savings Amount | £5,000 | £20,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Handelsbanken vs Allica Bank Account Opening Times
| Handelsbanken | Allica Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 3 to 5 Working days |
| Do They Check Your Credit? | No | Yes |
| Current Account Switch Service | Yes | Yes |
Handelsbanken vs Allica Bank Features & Account Types
| Handelsbanken | Allica Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | No | No |
| Accounts For Charities | No | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | UK-wide | Milton Keynes, London and Manchester |
Handelsbanken vs Allica Bank Customer Support Options
| Handelsbanken | 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 |
Handelsbanken vs Allica Bank Foreign Currency Accounts
| Handelsbanken | Allica Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Handelsbanken and Allica Bank
| Handelsbanken | Allica Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | No | Yes |
| Invoice Financing | No | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | No |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Handelsbanken vs Allica Bank Banking Basics
| Handelsbanken | Allica Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 197340 | 821851 |
| Website | Handelsbanken Website | Allica Bank Website |
Common Comparison Questions
Does Handelsbanken or Allica Bank have better customer reviews?
Handelsbanken scores 2.3 out of 5 based 124 Trustpilot reviews. Of these reviews 33% are 5-star and 55% 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 Handelsbanken or Allica Bank have a better App?
Handelsbanken’s iPhone App is rated 2.6 out of 5 based on 17 reviews. And it’s Android App is rated 1.6 out of 5 based on 6 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 Handelsbanken or Allica Bank have better business savings rates?
Handelsbanken offers the following types of business savings accounts: Instant Access, Fixed Term, Notice Savings with interest rates ranging from No to No. (AER)
In contrast, Allica Bank offers Easy Access, Notice Account accounts with interest rates ranging from 3.65% to 5.10% (AER).
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For other business bank accounts see our guide here.