Is OakNorth or Allica Bank better for your small business?
Below we look at both OakNorth and Allica 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.
OakNorth vs Allica Bank Trustpilot Reviews
| OakNorth | Allica Bank | |
| Trustpilot Review Score (out of 5) | 4.8 | 4.5 |
| Percent 5-Star Reviews | 84% | 76% |
| Percent 1- Star Reviews | 3% | 6% |
| Total Number of Reviews | 8,904 | 815 |
https://www.trustpilot.com/review/oaknorth.co.uk
https://www.trustpilot.com/review/www.allica.bank
OakNorth vs Allica Bank App Reviews
| OakNorth | Allica Bank | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,600 | 503 |
| Android Review Score (out of 5) | 4.8 | 4.4 |
| Number of Android Reviews | 468 | 107 |
https://apps.apple.com/gb/app/oaknorth-savings/id1476387507
https://apps.apple.com/gb/app/allica-bank/id1489138340
OakNorth vs Allica Bank Account Fees & Charges
| OakNorth | Allica Bank | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | £25 | No |
| Most Expensive Monthly Account Fee | £99.99 | No |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 70p per £100 | Free |
| Cheques (in/out) | £1 per cheque | Unknown |
| CHAPS Payments Cost | £17 | £20 |
| SEPA Payments Cost | No | No |
OakNorth vs Allica Bank Business Savings Rates
| OakNorth | Allica Bank | |
| Types of Business Savings Accounts | Fixed Term, Notice Accounts, Easy Access | Easy Access, Notice Account |
| Lowest Savings Rate (AER) | 3.85% | 3.65% |
| Maximum Savings Rate (AER) | 3.85% | 5.10% |
| Minimum Savings Amount | £10,000 | £20,000 |
| Interest Paid On Foreign Currencies | No | No |
OakNorth vs Allica Bank Account Opening Times
| OakNorth | Allica Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Few minutes | 3 to 5 Working days |
| Do They Check Your Credit? | No | Yes |
| Current Account Switch Service | No | Yes |
OakNorth vs Allica Bank Features & Account Types
| OakNorth | Allica Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | No | No |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | No |
| Accounts For Charities | Yes | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | No | Yes |
| Branch Locations | None, online and phone only | Milton Keynes, London and Manchester |
OakNorth vs Allica Bank Customer Support Options
| OakNorth | Allica 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 | No | Yes |
OakNorth vs Allica Bank Foreign Currency Accounts
| OakNorth | Allica Bank | |
| US Dollar (USD) Bank Accounts | No | No |
| Euro (EUR) Bank Accounts | No | No |
| Other Currencies Available: | No | No |
Other Business Services From OakNorth and Allica Bank
| OakNorth | Allica Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | No | No |
| Free Accounting Software | No | No |
OakNorth vs Allica Bank Banking Basics
| OakNorth | Allica Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 629564 | 821851 |
| Website | OakNorth Website | Allica Bank Website |
Common Comparison Questions
Does OakNorth or Allica Bank have better customer reviews?
OakNorth scores 4.8 out of 5 based 8,904 Trustpilot reviews. Of these reviews 84% are 5-star and 3% are 1-star.
Whereas, Allica Bank scores 4.5 out of 5 based 815 Trustpilot reviews. Of which 76% are 5-star and 6% are 1-star.
Does OakNorth or Allica Bank have a better App?
OakNorth’s iPhone App is rated 4.8 out of 5 based on 1,600 reviews. And it’s Android App is rated 4.8 out of 5 based on 468 reviews.
In comparison, Allica Bank’s iPhone App is rated 4.8 out of 5 based on 503 reviews. And it’s Android App is rated 4.4 out of 5 based on 107 reviews.
Does OakNorth or Allica Bank have better business savings rates?
OakNorth offers the following types of business savings accounts: Fixed Term, Notice Accounts, Easy Access with interest rates ranging from 3.85% to 3.85%. (AER)
In contrast, Allica Bank offers Easy Access, Notice Account accounts with interest rates ranging from 3.65% to 5.10% (AER).
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For other business bank accounts see our guide here.