Is Lloyds Bank or Revolut Business better for your small business?
Below we look at both Lloyds Bank and Revolut Business 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 Revolut Business Trustpilot Reviews
| Lloyds Bank | Revolut Business | |
| Trustpilot Review Score (out of 5) | 1.7 | 4.2 |
| Percent 5-Star Reviews | 13% | 75% |
| Percent 1- Star Reviews | 79% | 10% |
| Total Number of Reviews | 4,311 | 148,162 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/www.revolut.com
Lloyds Bank vs Revolut Business App Reviews
| Lloyds Bank | Revolut Business | |
| iPhone Review Score (out of 5) | 4.8 | 4.9 |
| Number of iPhone Reviews | 1,900,000 | 26,200 |
| Android Review Score (out of 5) | 4.6 | 4.6 |
| Number of Android Reviews | 317,000 | 20,300 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/revolut-business/id1436969262
Lloyds Bank vs Revolut Business Account Fees & Charges
| Lloyds Bank | Revolut Business | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | No Limit |
| Cheapest Monthly Account Fee | £8.50 | £19 |
| Most Expensive Monthly Account Fee | £8.50 | £79 |
| Electronic Payment Cost (in/out) | Free / 20p | 1% + 20p |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | €1 |
| Cheques (in/out) | 85p per cheque | £8 |
| CHAPS Payments Cost | £30 | £25 |
| SEPA Payments Cost | £5 | 20p |
Lloyds Bank vs Revolut Business Business Savings Rates
| Lloyds Bank | Revolut Business | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Grow, Scale, Enterprise |
| Lowest Savings Rate (AER) | 1.31% | 2% |
| Maximum Savings Rate (AER) | 4.37% | 3% |
| Minimum Savings Amount | £1 | No |
| Interest Paid On Foreign Currencies | Yes | Yes |
Lloyds Bank vs Revolut Business Account Opening Times
| Lloyds Bank | Revolut Business | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 10 minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs Revolut Business Features & Account Types
| Lloyds Bank | Revolut Business | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Visa | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | No |
| Branch Locations | UK-wide | None, online only |
Lloyds Bank vs Revolut Business Customer Support Options
| Lloyds Bank | Revolut Business | |
| 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 | No |
Lloyds Bank vs Revolut Business Foreign Currency Accounts
| Lloyds Bank | Revolut Business | |
| 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 Revolut Business
| Lloyds Bank | Revolut Business | |
| 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 | No |
Lloyds Bank vs Revolut Business Banking Basics
| Lloyds Bank | Revolut Business | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | No |
| FCA Number | 119278 | 900562 |
| Website | Lloyds Bank Website | Revolut Business Website |
Common Comparison Questions
Does Lloyds Bank or Revolut Business 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, Revolut Business scores 4.2 out of 5 based 148,162 Trustpilot reviews. Of which 75% are 5-star and 10% are 1-star.
Does Lloyds Bank or Revolut Business 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, Revolut Business’s iPhone App is rated 4.9 out of 5 based on 26,200 reviews. And it’s Android App is rated 4.6 out of 5 based on 20,300 reviews.
Does Lloyds Bank or Revolut Business 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, Revolut Business offers Grow, Scale, Enterprise accounts with interest rates ranging from 2% to 3% (AER).
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For other business bank accounts see our guide here.