Is Lloyds Bank or Tide better for your small business?
Below we look at both Lloyds Bank and Tide 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 Tide Trustpilot Reviews
| Lloyds Bank | Tide | |
| Trustpilot Review Score (out of 5) | 1.7 | 4.2 |
| Percent 5-Star Reviews | 13% | 73% |
| Percent 1- Star Reviews | 79% | 17% |
| Total Number of Reviews | 4,311 | 18,595 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/tide.co
Lloyds Bank vs Tide App Reviews
| Lloyds Bank | Tide | |
| iPhone Review Score (out of 5) | 4.8 | 4.7 |
| Number of iPhone Reviews | 1,900,000 | 64,800 |
| Android Review Score (out of 5) | 4.6 | 3.5 |
| Number of Android Reviews | 317,000 | 16,200 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/tide-business-banking-app/id1140086177
Lloyds Bank vs Tide Account Fees & Charges
| Lloyds Bank | Tide | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | No Limit |
| Cheapest Monthly Account Fee | £8.50 | £9.99 |
| Most Expensive Monthly Account Fee | £8.50 | £49.99 |
| Electronic Payment Cost (in/out) | Free / 20p | Free |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | £1 |
| Cheques (in/out) | 85p per cheque | Free |
| CHAPS Payments Cost | £30 | No |
| SEPA Payments Cost | £5 | €0.70 |
Lloyds Bank vs Tide Business Savings Rates
| Lloyds Bank | Tide | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Business savings account |
| Lowest Savings Rate (AER) | 1.31% | 3.55% |
| Maximum Savings Rate (AER) | 4.37% | 3.55% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Lloyds Bank vs Tide Account Opening Times
| Lloyds Bank | Tide | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 10 to 2880 minutes |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs Tide Features & Account Types
| Lloyds Bank | Tide | |
| 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 | 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 Tide Customer Support Options
| Lloyds Bank | Tide | |
| 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 Tide Foreign Currency Accounts
| Lloyds Bank | Tide | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Lloyds Bank and Tide
| Lloyds Bank | Tide | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | Yes |
| Free Accounting Software | Yes | Yes |
Lloyds Bank vs Tide Banking Basics
| Lloyds Bank | Tide | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 via ClearBank |
| FCA Number | 119278 | 754568 |
| Website | Lloyds Bank Website | Tide Website |
Common Comparison Questions
Does Lloyds Bank or Tide 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, Tide scores 4.2 out of 5 based 18,595 Trustpilot reviews. Of which 73% are 5-star and 17% are 1-star.
Does Lloyds Bank or Tide 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, Tide’s iPhone App is rated 4.7 out of 5 based on 64,800 reviews. And it’s Android App is rated 3.5 out of 5 based on 16,200 reviews.
Does Lloyds Bank or Tide 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, Tide offers Business savings account accounts with interest rates ranging from 3.55% to 3.55% (AER).
See Other Comparisons:Lloyds Bank vs Virgin Money
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Lloyds Bank vs TSB
For other business bank accounts see our guide here.