Is Lloyds Bank or Ulster Bank better for your small business?
Below we look at both Lloyds Bank and Ulster 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 Ulster Bank Trustpilot Reviews
| Lloyds Bank | Ulster Bank | |
| Trustpilot Review Score (out of 5) | 1.7 | 1.5 |
| Percent 5-Star Reviews | 13% | 8% |
| Percent 1- Star Reviews | 79% | 86% |
| Total Number of Reviews | 4,311 | 114 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/www.ulsterbank.co.uk
Lloyds Bank vs Ulster Bank App Reviews
| Lloyds Bank | Ulster Bank | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,900,000 | 15,700 |
| Android Review Score (out of 5) | 4.6 | 4.1 |
| Number of Android Reviews | 317,000 | 15,000 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/ulster-bank-ni-mobile-banking/id469523324
Lloyds Bank vs Ulster Bank Account Fees & Charges
| Lloyds Bank | Ulster Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | 24 Months |
| Cheapest Monthly Account Fee | £8.50 | £8 |
| Most Expensive Monthly Account Fee | £8.50 | £12 |
| Electronic Payment Cost (in/out) | Free / 20p | 43p |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | 70p per £100 |
| Cheques (in/out) | 85p per cheque | 40p |
| CHAPS Payments Cost | £30 | £18.75 |
| SEPA Payments Cost | £5 | €0.51 |
Lloyds Bank vs Ulster Bank Business Savings Rates
| Lloyds Bank | Ulster Bank | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Instant access accounts, Fixed term accounts, Currency savings accounts |
| Lowest Savings Rate (AER) | 1.31% | 1.46% |
| Maximum Savings Rate (AER) | 4.37% | 1.92% |
| Minimum Savings Amount | £1 | No |
| Interest Paid On Foreign Currencies | Yes | Yes |
Lloyds Bank vs Ulster Bank Account Opening Times
| Lloyds Bank | Ulster Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 24 working hours |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs Ulster Bank Features & Account Types
| Lloyds Bank | Ulster Bank | |
| Business Current Account | Yes | Yes |
| 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 | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | UK-wide | Northern Ireland Only |
Lloyds Bank vs Ulster Bank Customer Support Options
| Lloyds Bank | Ulster Bank | |
| 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 Ulster Bank Foreign Currency Accounts
| Lloyds Bank | Ulster Bank | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
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Other Business Services From Lloyds Bank and Ulster Bank
| Lloyds Bank | Ulster Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | Yes |
| Free Accounting Software | Yes | Yes |
Lloyds Bank vs Ulster Bank Banking Basics
| Lloyds Bank | Ulster Bank | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 119278 | NA |
| Website | Lloyds Bank Website | Ulster Bank Website |
Common Comparison Questions
Does Lloyds Bank or Ulster 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, Ulster Bank scores 1.5 out of 5 based 114 Trustpilot reviews. Of which 8% are 5-star and 86% are 1-star.
Does Lloyds Bank or Ulster 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, Ulster Bank’s iPhone App is rated 4.8 out of 5 based on 15,700 reviews. And it’s Android App is rated 4.1 out of 5 based on 15,000 reviews.
Does Lloyds Bank or Ulster 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, Ulster Bank offers Instant access accounts, Fixed term accounts, Currency savings accounts accounts with interest rates ranging from 1.46% to 1.92% (AER).
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For other business bank accounts see our guide here.