Is Lloyds Bank or Shawbrook Bank better for your small business?
Below we look at both Lloyds Bank and Shawbrook 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 Shawbrook Bank Trustpilot Reviews
| Lloyds Bank | Shawbrook Bank | |
| Trustpilot Review Score (out of 5) | 1.7 | 4.7 |
| Percent 5-Star Reviews | 13% | 85% |
| Percent 1- Star Reviews | 79% | 7% |
| Total Number of Reviews | 4,311 | 10,747 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/www.shawbrook.co.uk
Lloyds Bank vs Shawbrook Bank App Reviews
| Lloyds Bank | Shawbrook Bank | |
| iPhone Review Score (out of 5) | 4.8 | No Rating |
| Number of iPhone Reviews | 1,900,000 | No Reviews |
| Android Review Score (out of 5) | 4.6 | No Rating |
| Number of Android Reviews | 317,000 | No Reviews |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://www.apple.com/uk/app-store/
Lloyds Bank vs Shawbrook Bank Account Fees & Charges
| Lloyds Bank | Shawbrook Bank | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £8.50 | Free |
| Most Expensive Monthly Account Fee | £8.50 | £12 |
| 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 | £35 |
| SEPA Payments Cost | £5 | No |
Lloyds Bank vs Shawbrook Bank Business Savings Rates
| Lloyds Bank | Shawbrook Bank | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Easy Access, Fixed Rate, Notice Accounts |
| Lowest Savings Rate (AER) | 1.31% | 3.66% |
| Maximum Savings Rate (AER) | 4.37% | 5.03% |
| Minimum Savings Amount | £1 | £1,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Lloyds Bank vs Shawbrook Bank Account Opening Times
| Lloyds Bank | Shawbrook Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 5 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | No |
Lloyds Bank vs Shawbrook Bank Features & Account Types
| Lloyds Bank | Shawbrook Bank | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Visa | None |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | No |
| In Person/Branch Banking | Yes | No |
| Branch Locations | UK-wide | Limited locations accross the UK |
Lloyds Bank vs Shawbrook Bank Customer Support Options
| Lloyds Bank | Shawbrook Bank | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | No |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | No |
Lloyds Bank vs Shawbrook Bank Foreign Currency Accounts
| Lloyds Bank | Shawbrook 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 Shawbrook Bank
| Lloyds Bank | Shawbrook Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Lloyds Bank vs Shawbrook Bank Banking Basics
| Lloyds Bank | Shawbrook Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 119278 | 204574 |
| Website | Lloyds Bank Website | Shawbrook Bank Website |
Common Comparison Questions
Does Lloyds Bank or Shawbrook 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, Shawbrook Bank scores 4.7 out of 5 based 10,747 Trustpilot reviews. Of which 85% are 5-star and 7% are 1-star.
Does Lloyds Bank or Shawbrook 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, Shawbrook Bank’s iPhone App is rated No Rating out of 5 based on No Reviews reviews. And it’s Android App is rated No Rating out of 5 based on No Reviews reviews.
Does Lloyds Bank or Shawbrook 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, Shawbrook Bank offers Easy Access, Fixed Rate, Notice Accounts accounts with interest rates ranging from 3.66% to 5.03% (AER).
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For other business bank accounts see our guide here.