Is Lloyds Bank or Allica Bank better for your small business?
Below we look at both Lloyds 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.
Lloyds Bank vs Allica Bank Trustpilot Reviews
| Lloyds Bank | Allica Bank | |
| Trustpilot Review Score (out of 5) | 1.7 | 4.5 |
| Percent 5-Star Reviews | 13% | 76% |
| Percent 1- Star Reviews | 79% | 6% |
| Total Number of Reviews | 4,311 | 815 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/www.allica.bank
Lloyds Bank vs Allica Bank App Reviews
| Lloyds Bank | Allica Bank | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,900,000 | 503 |
| Android Review Score (out of 5) | 4.6 | 4.4 |
| Number of Android Reviews | 317,000 | 107 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/allica-bank/id1489138340
Lloyds Bank vs Allica Bank Account Fees & Charges
| Lloyds Bank | Allica Bank | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £8.50 | No |
| Most Expensive Monthly Account Fee | £8.50 | No |
| Electronic Payment Cost (in/out) | Free / 20p | Free |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | Free |
| Cheques (in/out) | 85p per cheque | Unknown |
| CHAPS Payments Cost | £30 | £20 |
| SEPA Payments Cost | £5 | No |
Lloyds Bank vs Allica Bank Business Savings Rates
| Lloyds Bank | Allica Bank | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Easy Access, Notice Account |
| Lowest Savings Rate (AER) | 1.31% | 3.65% |
| Maximum Savings Rate (AER) | 4.37% | 5.10% |
| Minimum Savings Amount | £1 | £20,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Lloyds Bank vs Allica Bank Account Opening Times
| Lloyds Bank | 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? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs Allica Bank Features & Account Types
| Lloyds 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 | UK-wide | Milton Keynes, London and Manchester |
Lloyds Bank vs Allica Bank Customer Support Options
| Lloyds 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 |
Lloyds Bank vs Allica Bank Foreign Currency Accounts
| Lloyds Bank | Allica Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Lloyds Bank and Allica Bank
| Lloyds 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 | Yes | No |
| Free Accounting Software | Yes | No |
Lloyds Bank vs Allica Bank Banking Basics
| Lloyds Bank | Allica Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 119278 | 821851 |
| Website | Lloyds Bank Website | Allica Bank Website |
Common Comparison Questions
Does Lloyds Bank or Allica Bank have better customer reviews?
Lloyds Bank scores 1.7 out of 5 based 4,311 Trustpilot reviews. Of these reviews 13% are 5-star and 79% 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 Lloyds Bank or Allica Bank have a better App?
Lloyds Bank’s iPhone App is rated 4.8 out of 5 based on 1,900,000 reviews. And it’s Android App is rated 4.6 out of 5 based on 317,000 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 Lloyds Bank or Allica Bank have better business savings rates?
Lloyds Bank offers the following types of business savings accounts: Fixed Term Deposit, Instant access account, Notice accounts with interest rates ranging from 1.31% to 4.37%. (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.