Is PayPal Debit or Recognise Bank better for your small business?
Below we look at both PayPal Debit 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.
PayPal Debit vs Recognise Bank Trustpilot Reviews
| PayPal Debit | Recognise Bank | |
| Trustpilot Review Score (out of 5) | 1.4 | 4.6 |
| Percent 5-Star Reviews | 20% | 77% |
| Percent 1- Star Reviews | 73% | 5% |
| Total Number of Reviews | 5,277 | 539 |
https://www.trustpilot.com/review/www.paypal.co.uk
https://www.trustpilot.com/review/recognisebank.co.uk
PayPal Debit vs Recognise Bank App Reviews
| PayPal Debit | Recognise Bank | |
| iPhone Review Score (out of 5) | 4.1 | No Rating |
| Number of iPhone Reviews | 1,600 | No Reviews |
| Android Review Score (out of 5) | 3.3 | No Rating |
| Number of Android Reviews | 91,500 | No Reviews |
https://apps.apple.com/gb/app/paypal-business/id1053148887
https://www.apple.com/uk/app-store/
PayPal Debit vs Recognise Bank Account Fees & Charges
| PayPal Debit | Recognise Bank | |
| Free Business Bank Account | No | Yes |
| Free Business Account Term Length | NA | No Limit |
| Cheapest Monthly Account Fee | No | No |
| Most Expensive Monthly Account Fee | No | No |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | Free | Free |
| Cheques (in/out) | Free | Free |
| CHAPS Payments Cost | No | £15 |
| SEPA Payments Cost | No | 25p |
PayPal Debit vs Recognise Bank Business Savings Rates
| PayPal Debit | Recognise Bank | |
| Types of Business Savings Accounts | None | Notice account, Fixed Rate, Instant access |
| Lowest Savings Rate (AER) | NA | 3.15% |
| Maximum Savings Rate (AER) | NA | 4.50% |
| Minimum Savings Amount | NA | £1,000 |
| Interest Paid On Foreign Currencies | Yes | Yes |
PayPal Debit vs Recognise Bank Account Opening Times
| PayPal Debit | 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 | Yes | No |
PayPal Debit vs Recognise Bank Features & Account Types
| PayPal Debit | Recognise Bank | |
| Business Current Account | Yes | No |
| Business Savings Account | No | Yes |
| Business Credit Card | No | No |
| Business Overdraft | No | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | No | No |
| Accounts For Sole Traders | No | 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 only | None, online and phone only |
PayPal Debit vs Recognise Bank Customer Support Options
| PayPal Debit | Recognise Bank | |
| Phone Support Available | No | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | No |
| Web Based Support | Yes | Yes |
| In person Customer Support | No | No |
PayPal Debit vs Recognise Bank Foreign Currency Accounts
| PayPal Debit | Recognise Bank | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
|
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Other Business Services From PayPal Debit and Recognise Bank
| PayPal Debit | Recognise Bank | |
| Business Loans | No | Yes |
| Commercial Mortgages | No | Yes |
| Invoice Financing | No | No |
| International Payments | Yes | No |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
PayPal Debit vs Recognise Bank Banking Basics
| PayPal Debit | Recognise Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | No | Yes, up to £85,000 |
| FCA Number | 742277 | 849404 |
| Website | PayPal Debit Website | Recognise Bank Website |
Common Comparison Questions
Does PayPal Debit or Recognise Bank have better customer reviews?
PayPal Debit scores 1.4 out of 5 based 5,277 Trustpilot reviews. Of these reviews 20% are 5-star and 73% 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 PayPal Debit or Recognise Bank have a better App?
PayPal Debit’s iPhone App is rated 4.1 out of 5 based on 1,600 reviews. And it’s Android App is rated 3.3 out of 5 based on 91,500 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 PayPal Debit or Recognise Bank have better business savings rates?
PayPal Debit offers the following types of business savings accounts: None with interest rates ranging from NA to NA. (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.