Is Lloyds Bank or Saffron Building Society better for your small business?
Below we look at both Lloyds Bank and Saffron Building Society 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 Saffron Building Society Trustpilot Reviews
| Lloyds Bank | Saffron Building Society | |
| Trustpilot Review Score (out of 5) | 1.7 | 2.2 |
| Percent 5-Star Reviews | 13% | 21% |
| Percent 1- Star Reviews | 79% | 73% |
| Total Number of Reviews | 4,311 | 58 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/saffronbs.co.uk
Lloyds Bank vs Saffron Building Society App Reviews
| Lloyds Bank | Saffron Building Society | |
| iPhone Review Score (out of 5) | 4.8 | 3.7 |
| Number of iPhone Reviews | 1,900,000 | 24 |
| Android Review Score (out of 5) | 4.6 | 3.7 |
| Number of Android Reviews | 317,000 | 14 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/saffron-building-society/id1482290341
Lloyds Bank vs Saffron Building Society Account Fees & Charges
| Lloyds Bank | Saffron Building Society | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £8.50 | £10 |
| Most Expensive Monthly Account Fee | £8.50 | £10 |
| 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 | £1.50 |
| CHAPS Payments Cost | £30 | £15 |
| SEPA Payments Cost | £5 | 25p |
Lloyds Bank vs Saffron Building Society Business Savings Rates
| Lloyds Bank | Saffron Building Society | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Regular Savings, Easy access, Fixed rate bonds, Notice accounts, Business/corporate accounts |
| Lowest Savings Rate (AER) | 1.31% | 1.20% |
| Maximum Savings Rate (AER) | 4.37% | 5.75% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | No |
Lloyds Bank vs Saffron Building Society Account Opening Times
| Lloyds Bank | Saffron Building Society | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | Undisclosed |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs Saffron Building Society Features & Account Types
| Lloyds Bank | Saffron Building Society | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| Business Overdraft | Yes | No |
| 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 | Locations in Essex only |
Lloyds Bank vs Saffron Building Society Customer Support Options
| Lloyds Bank | Saffron Building Society | |
| 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 Saffron Building Society Foreign Currency Accounts
| Lloyds Bank | Saffron Building Society | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Lloyds Bank and Saffron Building Society
| Lloyds Bank | Saffron Building Society | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Lloyds Bank vs Saffron Building Society Banking Basics
| Lloyds Bank | Saffron Building Society | |
| Bank Type | High Street | Building Society |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 119278 | 100015 |
| Website | Lloyds Bank Website | Saffron Building Society Website |
Common Comparison Questions
Does Lloyds Bank or Saffron Building Society 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, Saffron Building Society scores 2.2 out of 5 based 58 Trustpilot reviews. Of which 21% are 5-star and 73% are 1-star.
Does Lloyds Bank or Saffron Building Society 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, Saffron Building Society’s iPhone App is rated 3.7 out of 5 based on 24 reviews. And it’s Android App is rated 3.7 out of 5 based on 14 reviews.
Does Lloyds Bank or Saffron Building Society 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, Saffron Building Society offers Regular Savings, Easy access, Fixed rate bonds, Notice accounts, Business/corporate accounts accounts with interest rates ranging from 1.20% to 5.75% (AER).
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For other business bank accounts see our guide here.