Is Nationwide or TSB better for your small business?
Below we look at both Nationwide and TSB 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.
Nationwide vs TSB Trustpilot Reviews
| Nationwide | TSB | |
| Trustpilot Review Score (out of 5) | 1.7 | 4.2 |
| Percent 5-Star Reviews | 15% | 56% |
| Percent 1- Star Reviews | 75% | 27% |
| Total Number of Reviews | 5,509 | 21,942 |
https://www.trustpilot.com/review/www.nationwide.co.uk
https://www.trustpilot.com/review/tsb.co.uk
Nationwide vs TSB App Reviews
| Nationwide | TSB | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 595,000 | 457,400 |
| Android Review Score (out of 5) | 4.5 | 4.4 |
| Number of Android Reviews | 106,000 | 197,000 |
https://apps.apple.com/gb/app/nationwide-mobile-banking/id542355130
https://apps.apple.com/gb/app/tsb-mobile-banking/id1160720878
Nationwide vs TSB Account Fees & Charges
| Nationwide | TSB | |
| Free Business Bank Account | No | Yes |
| Free Business Account Term Length | NA | 30 Months |
| Cheapest Monthly Account Fee | £6.50 | £5 |
| Most Expensive Monthly Account Fee | £30 | £40 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 1% | 70p per £100 |
| Cheques (in/out) | £1.50 | 70p |
| CHAPS Payments Cost | £15 | £30 |
| SEPA Payments Cost | No | £2 |
Nationwide vs TSB Business Savings Rates
| Nationwide | TSB | |
| Types of Business Savings Accounts | Instant access, Limited access, Fixed rate | Instant Access, Fixed Bonds |
| Lowest Savings Rate (AER) | 2.25% | 1.35% |
| Maximum Savings Rate (AER) | 6.50% | 4.30% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Nationwide vs TSB Account Opening Times
| Nationwide | TSB | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 10 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Nationwide vs TSB Features & Account Types
| Nationwide | TSB | |
| 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 | No |
| 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 | UK-wide |
Nationwide vs TSB Customer Support Options
| Nationwide | TSB | |
| 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 |
Nationwide vs TSB Foreign Currency Accounts
| Nationwide | TSB | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
|
|
Other Business Services From Nationwide and TSB
| Nationwide | TSB | |
| Business Loans | No | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | No | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | Yes |
| Free Accounting Software | No | No |
Nationwide vs TSB Banking Basics
| Nationwide | TSB | |
| Bank Type | Building Society | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 106078 | 191240 |
| Website | Nationwide Website | TSB Website |
Common Comparison Questions
Does Nationwide or TSB have better customer reviews?
Nationwide scores 1.7 out of 5 based 5,509 Trustpilot reviews. Of these reviews 15% are 5-star and 75% are 1-star.
Whereas, TSB scores 4.2 out of 5 based 21,942 Trustpilot reviews. Of which 56% are 5-star and 27% are 1-star.
Does Nationwide or TSB have a better App?
Nationwide’s iPhone App is rated 4.8 out of 5 based on 595,000 reviews. And it’s Android App is rated 4.5 out of 5 based on 106,000 reviews.
In comparison, TSB’s iPhone App is rated 4.8 out of 5 based on 457,400 reviews. And it’s Android App is rated 4.4 out of 5 based on 197,000 reviews.
Does Nationwide or TSB have better business savings rates?
Nationwide offers the following types of business savings accounts: Instant access, Limited access, Fixed rate with interest rates ranging from 2.25% to 6.50%. (AER)
In contrast, TSB offers Instant Access, Fixed Bonds accounts with interest rates ranging from 1.35% to 4.30% (AER).
See Other Comparisons:Nationwide vs Starling Bank
Nationwide vs Shawbrook Bank
Nationwide vs RBS (Royal Bank of Scotland)
Nationwide vs Wise
Nationwide vs Revolut Business
For other business bank accounts see our guide here.