Is Lloyds Bank or Reliance Bank better for your small business?
Below we look at both Lloyds 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.
Lloyds Bank vs Reliance Bank Trustpilot Reviews
| Lloyds Bank | Reliance Bank | |
| Trustpilot Review Score (out of 5) | 1.7 | 3.4 |
| Percent 5-Star Reviews | 13% | 25% |
| Percent 1- Star Reviews | 79% | 25% |
| Total Number of Reviews | 4,311 | 4 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/www.reliancebankltd.com
Lloyds Bank vs Reliance Bank App Reviews
| Lloyds Bank | Reliance Bank | |
| iPhone Review Score (out of 5) | 4.8 | 4.7 |
| Number of iPhone Reviews | 1,900,000 | 451 |
| Android Review Score (out of 5) | 4.6 | 4 |
| Number of Android Reviews | 317,000 | 144 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/us/app/reliance-bank-mobile-banking/id1050676219
Lloyds Bank vs Reliance Bank Account Fees & Charges
| Lloyds Bank | Reliance Bank | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £8.50 | £7.50 |
| Most Expensive Monthly Account Fee | £8.50 | £7.50 |
| Electronic Payment Cost (in/out) | Free / 20p | 25p |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | 30p / 25p per £100 |
| Cheques (in/out) | 85p per cheque | 30p / 25p |
| CHAPS Payments Cost | £30 | £15 |
| SEPA Payments Cost | £5 | 25p |
Lloyds Bank vs Reliance Bank Business Savings Rates
| Lloyds Bank | Reliance Bank | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Instant Access, Fixed Term, Notice Savings |
| Lowest Savings Rate (AER) | 1.31% | 2.15% |
| Maximum Savings Rate (AER) | 4.37% | 4.40% |
| Minimum Savings Amount | £1 | £1,000 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Lloyds Bank vs Reliance Bank Account Opening Times
| Lloyds Bank | Reliance Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs Reliance Bank Features & Account Types
| Lloyds 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 | UK-wide | London |
Lloyds Bank vs Reliance Bank Customer Support Options
| Lloyds 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 |
Lloyds Bank vs Reliance Bank Foreign Currency Accounts
| Lloyds Bank | Reliance Bank | |
| 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 Reliance Bank
| Lloyds 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 | Yes | No |
| Free Accounting Software | Yes | No |
Lloyds Bank vs Reliance Bank Banking Basics
| Lloyds Bank | Reliance Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 119278 | 204537 |
| Website | Lloyds Bank Website | Reliance Bank Website |
Common Comparison Questions
Does Lloyds Bank or Reliance 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, Reliance Bank scores 3.4 out of 5 based 4 Trustpilot reviews. Of which 25% are 5-star and 25% are 1-star.
Does Lloyds Bank or Reliance 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, 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 Lloyds Bank or Reliance 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, Reliance Bank offers Instant Access, Fixed Term, Notice Savings accounts with interest rates ranging from 2.15% to 4.40% (AER).
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For other business bank accounts see our guide here.