Is Kent Reliance or Redwood Bank better for your small business?
Below we look at both Kent Reliance 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.
Kent Reliance vs Redwood Bank Trustpilot Reviews
| Kent Reliance | Redwood Bank | |
| Trustpilot Review Score (out of 5) | 4 | 2.9 |
| Percent 5-Star Reviews | 61% | 46% |
| Percent 1- Star Reviews | 22% | 39% |
| Total Number of Reviews | 2,104 | 13 |
https://www.trustpilot.com/review/www.kentreliance.co.uk
https://www.trustpilot.com/review/redwoodbank.co.uk
Kent Reliance vs Redwood Bank App Reviews
| Kent Reliance | 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/
Kent Reliance vs Redwood Bank Account Fees & Charges
| Kent Reliance | 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 | Free | £15 |
| Electronic Payment Cost (in/out) | £10 | Free |
| Cash Payments Cost (in/out) | £1 | 70p per £100 |
| Cheques (in/out) | £1 | £1 |
| CHAPS Payments Cost | £10 | £25 |
| SEPA Payments Cost | No | No |
Kent Reliance vs Redwood Bank Business Savings Rates
| Kent Reliance | Redwood Bank | |
| Types of Business Savings Accounts | Easy access, Notice Account, Fixed rate, Business savings | Fixed Term, Notice Savings |
| Lowest Savings Rate (AER) | 0.10% | 3.75% |
| Maximum Savings Rate (AER) | 5.13% | 4.70% |
| Minimum Savings Amount | £1,000 | £10,000 |
| Interest Paid On Foreign Currencies | No | No |
Kent Reliance vs Redwood Bank Account Opening Times
| Kent Reliance | Redwood Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 10 minutes | Few minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | No | No |
Kent Reliance vs Redwood Bank Features & Account Types
| Kent Reliance | Redwood Bank | |
| Business Current Account | No | 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 | None | None |
| Online Banking | Yes | Yes |
| Mobile Banking | No | No |
| In Person/Branch Banking | Yes | No |
| Branch Locations | Locations in Kent only | Letchworth Garden City, and Warrington |
Kent Reliance vs Redwood Bank Customer Support Options
| Kent Reliance | 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 | Yes | No |
Kent Reliance vs Redwood Bank Foreign Currency Accounts
| Kent Reliance | Redwood Bank | |
| US Dollar (USD) Bank Accounts | No | No |
| Euro (EUR) Bank Accounts | No | No |
| Other Currencies Available: | No | No |
Other Business Services From Kent Reliance and Redwood Bank
| Kent Reliance | Redwood Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | No | Yes |
| International Payments | No | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Kent Reliance vs Redwood Bank Banking Basics
| Kent Reliance | Redwood Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 530504 | 755924 |
| Website | Kent Reliance Website | Redwood Bank Website |
Common Comparison Questions
Does Kent Reliance or Redwood Bank have better customer reviews?
Kent Reliance scores 4 out of 5 based 2,104 Trustpilot reviews. Of these reviews 61% are 5-star and 22% 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 Kent Reliance or Redwood Bank have a better App?
Kent Reliance’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 Kent Reliance or Redwood Bank have better business savings rates?
Kent Reliance offers the following types of business savings accounts: Easy access, Notice Account, Fixed rate, Business savings with interest rates ranging from 0.10% to 5.13%. (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.