Is Lloyds Bank or SumUp Business Account better for your small business?
Below we look at both Lloyds Bank and SumUp Business Account 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 SumUp Business Account Trustpilot Reviews
| Lloyds Bank | SumUp Business Account | |
| Trustpilot Review Score (out of 5) | 1.7 | 4.2 |
| Percent 5-Star Reviews | 13% | 64% |
| Percent 1- Star Reviews | 79% | 22% |
| Total Number of Reviews | 4,311 | 18,247 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/sumup.com
Lloyds Bank vs SumUp Business Account App Reviews
| Lloyds Bank | SumUp Business Account | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,900,000 | 12,400 |
| Android Review Score (out of 5) | 4.6 | 4.7 |
| Number of Android Reviews | 317,000 | 84,500 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/sumup/id514879214
Lloyds Bank vs SumUp Business Account Account Fees & Charges
| Lloyds Bank | SumUp Business Account | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | No Limit |
| Cheapest Monthly Account Fee | £8.50 | No |
| Most Expensive Monthly Account Fee | £8.50 | No |
| 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 | No |
| SEPA Payments Cost | £5 | No |
Lloyds Bank vs SumUp Business Account Business Savings Rates
| Lloyds Bank | SumUp Business Account | |
| 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 | No |
Lloyds Bank vs SumUp Business Account Account Opening Times
| Lloyds Bank | SumUp Business Account | |
| 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 | Yes |
| Current Account Switch Service | Yes | No |
Lloyds Bank vs SumUp Business Account Features & Account Types
| Lloyds Bank | SumUp Business Account | |
| Business Current Account | Yes | Yes |
| 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 SumUp Business Account Customer Support Options
| Lloyds Bank | SumUp Business Account | |
| 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 SumUp Business Account Foreign Currency Accounts
| Lloyds Bank | SumUp Business Account | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Lloyds Bank and SumUp Business Account
| Lloyds Bank | SumUp Business Account | |
| 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 SumUp Business Account Banking Basics
| Lloyds Bank | SumUp Business Account | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | No |
| FCA Number | 119278 | 900700 |
| Website | Lloyds Bank Website | SumUp Business Account Website |
Common Comparison Questions
Does Lloyds Bank or SumUp Business Account 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, SumUp Business Account scores 4.2 out of 5 based 18,247 Trustpilot reviews. Of which 64% are 5-star and 22% are 1-star.
Does Lloyds Bank or SumUp Business Account 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, SumUp Business Account’s iPhone App is rated 4.8 out of 5 based on 12,400 reviews. And it’s Android App is rated 4.7 out of 5 based on 84,500 reviews.
Does Lloyds Bank or SumUp Business Account 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, SumUp Business Account offers None accounts with interest rates ranging from NA to NA (AER).
See Other Comparisons:Lloyds Bank vs Cambridge & Counties Bank
Lloyds Bank vs Recognise Bank
Lloyds Bank vs Dudley Building Society
Lloyds Bank vs MyPOS
Lloyds Bank vs Ampere
For other business bank accounts see our guide here.