Is OakNorth or Recognise Bank better for your small business?
Below we look at both OakNorth and Recognise 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 Recognise Bank Trustpilot Reviews
| OakNorth | Recognise Bank | |
| Trustpilot Review Score (out of 5) | 4.8 | 4.6 |
| Percent 5-Star Reviews | 84% | 77% |
| Percent 1- Star Reviews | 3% | 5% |
| Total Number of Reviews | 8,904 | 539 |
https://www.trustpilot.com/review/oaknorth.co.uk
https://www.trustpilot.com/review/recognisebank.co.uk
OakNorth vs Recognise Bank App Reviews
| OakNorth | Recognise Bank | |
| iPhone Review Score (out of 5) | 4.8 | No Rating |
| Number of iPhone Reviews | 1,600 | No Reviews |
| Android Review Score (out of 5) | 4.8 | No Rating |
| Number of Android Reviews | 468 | No Reviews |
https://apps.apple.com/gb/app/oaknorth-savings/id1476387507
https://www.apple.com/uk/app-store/
OakNorth vs Recognise Bank Account Fees & Charges
| OakNorth | Recognise Bank | |
| Free Business Bank Account | No | Yes |
| Free Business Account Term Length | NA | No Limit |
| 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 | Free |
| CHAPS Payments Cost | £17 | £15 |
| SEPA Payments Cost | No | 25p |
OakNorth vs Recognise Bank Business Savings Rates
| OakNorth | Recognise Bank | |
| Types of Business Savings Accounts | Fixed Term, Notice Accounts, Easy Access | Notice account, Fixed Rate, Instant access |
| Lowest Savings Rate (AER) | 3.85% | 3.15% |
| Maximum Savings Rate (AER) | 3.85% | 4.50% |
| Minimum Savings Amount | £10,000 | £1,000 |
| Interest Paid On Foreign Currencies | No | Yes |
OakNorth vs Recognise Bank Account Opening Times
| OakNorth | Recognise Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Few minutes | Few minutes |
| Do They Check Your Credit? | No | Yes |
| Current Account Switch Service | No | No |
OakNorth vs Recognise Bank Features & Account Types
| OakNorth | Recognise Bank | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | Yes |
| Business Credit Card | No | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Mastercard | None |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | No |
| In Person/Branch Banking | No | No |
| Branch Locations | None, online and phone only | None, online and phone only |
OakNorth vs Recognise Bank Customer Support Options
| OakNorth | Recognise Bank | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | No |
| Web Based Support | Yes | Yes |
| In person Customer Support | No | No |
OakNorth vs Recognise Bank Foreign Currency Accounts
| OakNorth | Recognise Bank | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | No | Yes |
| Other Currencies Available: | No |
|
Other Business Services From OakNorth and Recognise Bank
| OakNorth | Recognise Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | No |
| International Payments | Yes | No |
| Merchant Payment Services | Yes | No |
| Card Machines | No | No |
| Free Accounting Software | No | No |
OakNorth vs Recognise Bank Banking Basics
| OakNorth | Recognise Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 629564 | 849404 |
| Website | OakNorth Website | Recognise Bank Website |
Common Comparison Questions
Does OakNorth or Recognise 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, Recognise Bank scores 4.6 out of 5 based 539 Trustpilot reviews. Of which 77% are 5-star and 5% are 1-star.
Does OakNorth or Recognise 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, Recognise Bank’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 OakNorth or Recognise 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, Recognise Bank offers Notice account, Fixed Rate, Instant access accounts with interest rates ranging from 3.15% to 4.50% (AER).
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For other business bank accounts see our guide here.