Is NatWest or Lloyds Bank better for your small business?
Below we look at both NatWest and Lloyds 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.


NatWest vs Lloyds Bank Trustpilot Reviews
NatWest | Lloyds Bank | |
Trustpilot Review Score (out of 5) | 1.4 | 1.7 |
Percent 5-Star Reviews | 8% | 13% |
Percent 1- Star Reviews | 86% | 79% |
Total Number of Reviews | 5,984 | 4,311 |
https://www.trustpilot.com/review/www.natwest.com
https://www.trustpilot.com/review/lloydsbank.com
NatWest vs Lloyds Bank App Reviews
NatWest | Lloyds Bank | |
iPhone Review Score (out of 5) | 4.8 | 4.8 |
Number of iPhone Reviews | 456,700 | 1,900,000 |
Android Review Score (out of 5) | 4.4 | 4.6 |
Number of Android Reviews | 349,000 | 317,000 |
https://apps.apple.com/gb/app/natwest-mobile-banking/id334855322
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
NatWest vs Lloyds Bank Account Fees & Charges
NatWest | Lloyds Bank | |
Free Business Bank Account | Yes | Yes |
Free Business Account Term Length | 24 Months | 12 Months |
Cheapest Monthly Account Fee | Free | £8.50 |
Most Expensive Monthly Account Fee | Free | £8.50 |
Electronic Payment Cost (in/out) | 35p | Free / 20p |
Cash Payments Cost (in/out) | 70p per £100 | £85p / £1.50 per £100 |
Cheques (in/out) | 70p per item | 85p per cheque |
CHAPS Payments Cost | £20 | £30 |
SEPA Payments Cost | 45p | £5 |
NatWest vs Lloyds Bank Business Savings Rates
NatWest | Lloyds Bank | |
Types of Business Savings Accounts | Instant access, notice and fixed-term savings accounts | Fixed Term Deposit, Instant access account, Notice accounts |
Lowest Savings Rate (AER) | 1.46% | 1.31% |
Maximum Savings Rate (AER) | 4.25% | 4.37% |
Minimum Savings Amount | No | £1 |
Interest Paid On Foreign Currencies | Yes | Yes |
NatWest vs Lloyds Bank Account Opening Times
NatWest | Lloyds Bank | |
Can You Apply Online? | Yes | Yes |
How Long Does Opening An Account Typically Take? | 10 Working days | 7 Working days |
Do They Check Your Credit? | Yes | Yes |
Current Account Switch Service | Yes | Yes |
NatWest vs Lloyds Bank Features & Account Types


NatWest | Lloyds 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 | Mastercard | Visa |
Online Banking | Yes | Yes |
Mobile Banking | Yes | Yes |
In Person/Branch Banking | Yes | Yes |
Branch Locations | UK-wide including the ability to use some RBS locations | UK-wide |
NatWest vs Lloyds Bank Customer Support Options
NatWest | Lloyds 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 |
NatWest vs Lloyds Bank Foreign Currency Accounts
NatWest | Lloyds Bank | |
US Dollar (USD) Bank Accounts | Yes | Yes |
Euro (EUR) Bank Accounts | Yes | Yes |
Other Currencies Available: |
|
|
Other Business Services From NatWest and Lloyds Bank


NatWest | Lloyds Bank | |
Business Loans | Yes | Yes |
Commercial Mortgages | Yes | Yes |
Invoice Financing | Yes | Yes |
International Payments | Yes | Yes |
Merchant Payment Services | Yes | Yes |
Card Machines | Yes | Yes |
Free Accounting Software | Yes | Yes |
NatWest vs Lloyds Bank Banking Basics
NatWest | Lloyds Bank | |
Bank Type | High Street | High Street |
FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
FCA Number | 121882 | 119278 |
Website | NatWest Website | Lloyds Bank Website |
Common Comparison Questions
Does NatWest or Lloyds Bank have better customer reviews?
NatWest scores 1.4 out of 5 based 5,984 Trustpilot reviews. Of these reviews 8% are 5-star and 86% are 1-star.
Whereas, Lloyds Bank scores 1.7 out of 5 based 4,311 Trustpilot reviews. Of which 13% are 5-star and 79% are 1-star.
Does NatWest or Lloyds Bank have a better App?
NatWest’s iPhone App is rated 4.8 out of 5 based on 456,700 reviews. And it’s Android App is rated 4.4 out of 5 based on 349,000 reviews.
In comparison, 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.
Does NatWest or Lloyds Bank have better business savings rates?
NatWest offers the following types of business savings accounts: Instant access, notice and fixed-term savings accounts with interest rates ranging from 1.46% to 4.25%. (AER)
In contrast, Lloyds Bank offers Fixed Term Deposit, Instant access account, Notice accounts accounts with interest rates ranging from 1.31% to 4.37% (AER).
See Other Comparisons:NatWest vs Tide
NatWest vs Virgin Money
NatWest vs Monzo
NatWest vs Bank of Scotland
NatWest vs Metro Bank
For other business bank accounts see our guide here.