Is Saffron Building Society or OakNorth better for your small business?
Below we look at both Saffron Building Society and OakNorth 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.
Saffron Building Society vs OakNorth Trustpilot Reviews
| Saffron Building Society | OakNorth | |
| Trustpilot Review Score (out of 5) | 2.2 | 4.8 |
| Percent 5-Star Reviews | 21% | 84% |
| Percent 1- Star Reviews | 73% | 3% |
| Total Number of Reviews | 58 | 8,904 |
https://www.trustpilot.com/review/saffronbs.co.uk
https://www.trustpilot.com/review/oaknorth.co.uk
Saffron Building Society vs OakNorth App Reviews
| Saffron Building Society | OakNorth | |
| iPhone Review Score (out of 5) | 3.7 | 4.8 |
| Number of iPhone Reviews | 24 | 1,600 |
| Android Review Score (out of 5) | 3.7 | 4.8 |
| Number of Android Reviews | 14 | 468 |
https://apps.apple.com/gb/app/saffron-building-society/id1482290341
https://apps.apple.com/gb/app/oaknorth-savings/id1476387507
Saffron Building Society vs OakNorth Account Fees & Charges
| Saffron Building Society | OakNorth | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | £10 | £25 |
| Most Expensive Monthly Account Fee | £10 | £99.99 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | Free | 70p per £100 |
| Cheques (in/out) | £1.50 | £1 per cheque |
| CHAPS Payments Cost | £15 | £17 |
| SEPA Payments Cost | 25p | No |
Saffron Building Society vs OakNorth Business Savings Rates
| Saffron Building Society | OakNorth | |
| Types of Business Savings Accounts | Regular Savings, Easy access, Fixed rate bonds, Notice accounts, Business/corporate accounts | Fixed Term, Notice Accounts, Easy Access |
| Lowest Savings Rate (AER) | 1.20% | 3.85% |
| Maximum Savings Rate (AER) | 5.75% | 3.85% |
| Minimum Savings Amount | £1 | £10,000 |
| Interest Paid On Foreign Currencies | No | No |
Saffron Building Society vs OakNorth Account Opening Times
| Saffron Building Society | OakNorth | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Undisclosed | Few minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | No |
Saffron Building Society vs OakNorth Features & Account Types
| Saffron Building Society | OakNorth | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | No | Yes |
| Accounts For Startups | No | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Mastercard | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | No |
| Branch Locations | Locations in Essex only | None, online and phone only |
Saffron Building Society vs OakNorth Customer Support Options
| Saffron Building Society | OakNorth | |
| 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 | No |
Saffron Building Society vs OakNorth Foreign Currency Accounts
| Saffron Building Society | OakNorth | |
| US Dollar (USD) Bank Accounts | No | No |
| Euro (EUR) Bank Accounts | No | No |
| Other Currencies Available: | No | No |
Other Business Services From Saffron Building Society and OakNorth
| Saffron Building Society | OakNorth | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | No | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Saffron Building Society vs OakNorth Banking Basics
| Saffron Building Society | OakNorth | |
| Bank Type | Building Society | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 100015 | 629564 |
| Website | Saffron Building Society Website | OakNorth Website |
Common Comparison Questions
Does Saffron Building Society or OakNorth have better customer reviews?
Saffron Building Society scores 2.2 out of 5 based 58 Trustpilot reviews. Of these reviews 21% are 5-star and 73% are 1-star.
Whereas, OakNorth scores 4.8 out of 5 based 8,904 Trustpilot reviews. Of which 84% are 5-star and 3% are 1-star.
Does Saffron Building Society or OakNorth have a better App?
Saffron Building Society’s iPhone App is rated 3.7 out of 5 based on 24 reviews. And it’s Android App is rated 3.7 out of 5 based on 14 reviews.
In comparison, 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.
Does Saffron Building Society or OakNorth have better business savings rates?
Saffron Building Society offers the following types of business savings accounts: Regular Savings, Easy access, Fixed rate bonds, Notice accounts, Business/corporate accounts with interest rates ranging from 1.20% to 5.75%. (AER)
In contrast, OakNorth offers Fixed Term, Notice Accounts, Easy Access accounts with interest rates ranging from 3.85% to 3.85% (AER).
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For other business bank accounts see our guide here.