Is Lloyds Bank or Unity Trust better for your small business?
Below we look at both Lloyds Bank and Unity Trust 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 Unity Trust Trustpilot Reviews
| Lloyds Bank | Unity Trust | |
| Trustpilot Review Score (out of 5) | 1.7 | 4 |
| Percent 5-Star Reviews | 13% | 61% |
| Percent 1- Star Reviews | 79% | 14% |
| Total Number of Reviews | 4,311 | 255 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/unity.co.uk
Lloyds Bank vs Unity Trust App Reviews
| Lloyds Bank | Unity Trust | |
| 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 Unity Trust Account Fees & Charges
| Lloyds Bank | Unity Trust | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £8.50 | £6 |
| Most Expensive Monthly Account Fee | £8.50 | £6 |
| Electronic Payment Cost (in/out) | Free / 20p | 14p |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | 50p per £100 |
| Cheques (in/out) | 85p per cheque | 30p per item |
| CHAPS Payments Cost | £30 | £28 |
| SEPA Payments Cost | £5 | 25p |
Lloyds Bank vs Unity Trust Business Savings Rates
| Lloyds Bank | Unity Trust | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Instant Access, Fixed Term |
| Lowest Savings Rate (AER) | 1.31% | 2.77% |
| Maximum Savings Rate (AER) | 4.37% | 5.10% |
| Minimum Savings Amount | £1 | No |
| Interest Paid On Foreign Currencies | Yes | Yes |
Lloyds Bank vs Unity Trust Account Opening Times
| Lloyds Bank | Unity Trust | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs Unity Trust Features & Account Types
| Lloyds Bank | Unity Trust | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| 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 | No |
| In Person/Branch Banking | Yes | No |
| Branch Locations | UK-wide | No own branches but can use NatWest, RBS or Ulster Bank locations |
Lloyds Bank vs Unity Trust Customer Support Options
| Lloyds Bank | Unity Trust | |
| 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 Unity Trust Foreign Currency Accounts
| Lloyds Bank | Unity Trust | |
| 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 Unity Trust
| Lloyds Bank | Unity Trust | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Lloyds Bank vs Unity Trust Banking Basics
| Lloyds Bank | Unity Trust | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 119278 | 204570 |
| Website | Lloyds Bank Website | Unity Trust Website |
Common Comparison Questions
Does Lloyds Bank or Unity Trust 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, Unity Trust scores 4 out of 5 based 255 Trustpilot reviews. Of which 61% are 5-star and 14% are 1-star.
Does Lloyds Bank or Unity Trust 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, Unity Trust’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 Unity Trust 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, Unity Trust offers Instant Access, Fixed Term accounts with interest rates ranging from 2.77% to 5.10% (AER).
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For other business bank accounts see our guide here.