Is Lloyds Bank or PayPal Debit better for your small business?
Below we look at both Lloyds Bank and PayPal Debit 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 PayPal Debit Trustpilot Reviews
| Lloyds Bank | PayPal Debit | |
| Trustpilot Review Score (out of 5) | 1.7 | 1.4 |
| Percent 5-Star Reviews | 13% | 20% |
| Percent 1- Star Reviews | 79% | 73% |
| Total Number of Reviews | 4,311 | 5,277 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/www.paypal.co.uk
Lloyds Bank vs PayPal Debit App Reviews
| Lloyds Bank | PayPal Debit | |
| iPhone Review Score (out of 5) | 4.8 | 4.1 |
| Number of iPhone Reviews | 1,900,000 | 1,600 |
| Android Review Score (out of 5) | 4.6 | 3.3 |
| Number of Android Reviews | 317,000 | 91,500 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/paypal-business/id1053148887
Lloyds Bank vs PayPal Debit Account Fees & Charges
| Lloyds Bank | PayPal Debit | |
| 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 | Free |
| CHAPS Payments Cost | £30 | No |
| SEPA Payments Cost | £5 | No |
Lloyds Bank vs PayPal Debit Business Savings Rates
| Lloyds Bank | PayPal Debit | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | None |
| Lowest Savings Rate (AER) | 1.31% | NA |
| Maximum Savings Rate (AER) | 4.37% | NA |
| Minimum Savings Amount | £1 | NA |
| Interest Paid On Foreign Currencies | Yes | Yes |
Lloyds Bank vs PayPal Debit Account Opening Times
| Lloyds Bank | PayPal Debit | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | Few minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs PayPal Debit Features & Account Types
| Lloyds Bank | PayPal Debit | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | No |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | No |
| Accounts For Sole Traders | Yes | No |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Visa | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | No |
| Branch Locations | UK-wide | None, online only |
Lloyds Bank vs PayPal Debit Customer Support Options
| Lloyds Bank | PayPal Debit | |
| Phone Support Available | Yes | No |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | No |
Lloyds Bank vs PayPal Debit Foreign Currency Accounts
| Lloyds Bank | PayPal Debit | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
|
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Other Business Services From Lloyds Bank and PayPal Debit
| Lloyds Bank | PayPal Debit | |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | Yes |
| Free Accounting Software | Yes | Yes |
Lloyds Bank vs PayPal Debit Banking Basics
| Lloyds Bank | PayPal Debit | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | No |
| FCA Number | 119278 | 742277 |
| Website | Lloyds Bank Website | PayPal Debit Website |
Common Comparison Questions
Does Lloyds Bank or PayPal Debit 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, PayPal Debit scores 1.4 out of 5 based 5,277 Trustpilot reviews. Of which 20% are 5-star and 73% are 1-star.
Does Lloyds Bank or PayPal Debit 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, PayPal Debit’s iPhone App is rated 4.1 out of 5 based on 1,600 reviews. And it’s Android App is rated 3.3 out of 5 based on 91,500 reviews.
Does Lloyds Bank or PayPal Debit 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, PayPal Debit offers None accounts with interest rates ranging from NA to NA (AER).
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For other business bank accounts see our guide here.