Is Saffron Building Society or Recognise Bank better for your small business?
Below we look at both Saffron Building Society 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.
Saffron Building Society vs Recognise Bank Trustpilot Reviews
| Saffron Building Society | Recognise Bank | |
| Trustpilot Review Score (out of 5) | 2.2 | 4.6 |
| Percent 5-Star Reviews | 21% | 77% |
| Percent 1- Star Reviews | 73% | 5% |
| Total Number of Reviews | 58 | 539 |
https://www.trustpilot.com/review/saffronbs.co.uk
https://www.trustpilot.com/review/recognisebank.co.uk
Saffron Building Society vs Recognise Bank App Reviews
| Saffron Building Society | Recognise Bank | |
| iPhone Review Score (out of 5) | 3.7 | No Rating |
| Number of iPhone Reviews | 24 | No Reviews |
| Android Review Score (out of 5) | 3.7 | No Rating |
| Number of Android Reviews | 14 | No Reviews |
https://apps.apple.com/gb/app/saffron-building-society/id1482290341
https://www.apple.com/uk/app-store/
Saffron Building Society vs Recognise Bank Account Fees & Charges
| Saffron Building Society | Recognise Bank | |
| Free Business Bank Account | No | Yes |
| Free Business Account Term Length | NA | No Limit |
| Cheapest Monthly Account Fee | £10 | No |
| Most Expensive Monthly Account Fee | £10 | No |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | Free | Free |
| Cheques (in/out) | £1.50 | Free |
| CHAPS Payments Cost | £15 | £15 |
| SEPA Payments Cost | 25p | 25p |
Saffron Building Society vs Recognise Bank Business Savings Rates
| Saffron Building Society | Recognise Bank | |
| Types of Business Savings Accounts | Regular Savings, Easy access, Fixed rate bonds, Notice accounts, Business/corporate accounts | Notice account, Fixed Rate, Instant access |
| Lowest Savings Rate (AER) | 1.20% | 3.15% |
| Maximum Savings Rate (AER) | 5.75% | 4.50% |
| Minimum Savings Amount | £1 | £1,000 |
| Interest Paid On Foreign Currencies | No | Yes |
Saffron Building Society vs Recognise Bank Account Opening Times
| Saffron Building Society | Recognise Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Undisclosed | Few minutes |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | No |
Saffron Building Society vs Recognise Bank Features & Account Types
| Saffron Building Society | Recognise Bank | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | No | No |
| Accounts For Startups | No | 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 | Yes | No |
| Branch Locations | Locations in Essex only | None, online and phone only |
Saffron Building Society vs Recognise Bank Customer Support Options
| Saffron Building Society | 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 | Yes | No |
Saffron Building Society vs Recognise Bank Foreign Currency Accounts
| Saffron Building Society | Recognise Bank | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | No | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Saffron Building Society and Recognise Bank
| Saffron Building Society | Recognise Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | No | No |
| International Payments | Yes | No |
| Merchant Payment Services | No | No |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Saffron Building Society vs Recognise Bank Banking Basics
| Saffron Building Society | Recognise Bank | |
| Bank Type | Building Society | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 100015 | 849404 |
| Website | Saffron Building Society Website | Recognise Bank Website |
Common Comparison Questions
Does Saffron Building Society or Recognise Bank 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, Recognise Bank scores 4.6 out of 5 based 539 Trustpilot reviews. Of which 77% are 5-star and 5% are 1-star.
Does Saffron Building Society or Recognise Bank 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, 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 Saffron Building Society or Recognise Bank 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, 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.