Is Lloyds Bank or Soldo better for your small business?
Below we look at both Lloyds Bank and Soldo 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 Soldo Trustpilot Reviews
| Lloyds Bank | Soldo | |
| Trustpilot Review Score (out of 5) | 1.7 | 4.7 |
| Percent 5-Star Reviews | 13% | 77% |
| Percent 1- Star Reviews | 79% | 11% |
| Total Number of Reviews | 4,311 | 1,667 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/soldo.com
Lloyds Bank vs Soldo App Reviews
| Lloyds Bank | Soldo | |
| iPhone Review Score (out of 5) | 4.8 | 2.7 |
| Number of iPhone Reviews | 1,900,000 | 70 |
| Android Review Score (out of 5) | 4.6 | 2.9 |
| Number of Android Reviews | 317,000 | 469 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/soldo/id1489150365
Lloyds Bank vs Soldo Account Fees & Charges
| Lloyds Bank | Soldo | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £8.50 | £18 |
| Most Expensive Monthly Account Fee | £8.50 | £30 |
| Electronic Payment Cost (in/out) | Free / 20p | £2 |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | No |
| Cheques (in/out) | 85p per cheque | Free |
| CHAPS Payments Cost | £30 | No |
| SEPA Payments Cost | £5 | €1.50 |
Lloyds Bank vs Soldo Business Savings Rates
| Lloyds Bank | Soldo | |
| 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 Soldo Account Opening Times
| Lloyds Bank | Soldo | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 1 day |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | No |
Lloyds Bank vs Soldo Features & Account Types
| Lloyds Bank | Soldo | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | No |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| 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 Soldo Customer Support Options
| Lloyds Bank | Soldo | |
| 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 Soldo Foreign Currency Accounts
| Lloyds Bank | Soldo | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
|
|
Other Business Services From Lloyds Bank and Soldo
| Lloyds Bank | Soldo | |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | No |
| 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 Soldo Banking Basics
| Lloyds Bank | Soldo | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | No |
| FCA Number | 119278 | 900459 |
| Website | Lloyds Bank Website | Soldo Website |
Common Comparison Questions
Does Lloyds Bank or Soldo 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, Soldo scores 4.7 out of 5 based 1,667 Trustpilot reviews. Of which 77% are 5-star and 11% are 1-star.
Does Lloyds Bank or Soldo 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, Soldo’s iPhone App is rated 2.7 out of 5 based on 70 reviews. And it’s Android App is rated 2.9 out of 5 based on 469 reviews.
Does Lloyds Bank or Soldo 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, Soldo 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.