Is Saffron Building Society or Reliance Bank better for your small business?
Below we look at both Saffron Building Society and Reliance 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 Reliance Bank Trustpilot Reviews
| Saffron Building Society | Reliance Bank | |
| Trustpilot Review Score (out of 5) | 2.2 | 3.4 |
| Percent 5-Star Reviews | 21% | 25% |
| Percent 1- Star Reviews | 73% | 25% |
| Total Number of Reviews | 58 | 4 |
https://www.trustpilot.com/review/saffronbs.co.uk
https://www.trustpilot.com/review/www.reliancebankltd.com
Saffron Building Society vs Reliance Bank App Reviews
| Saffron Building Society | Reliance Bank | |
| iPhone Review Score (out of 5) | 3.7 | 4.7 |
| Number of iPhone Reviews | 24 | 451 |
| Android Review Score (out of 5) | 3.7 | 4 |
| Number of Android Reviews | 14 | 144 |
https://apps.apple.com/gb/app/saffron-building-society/id1482290341
https://apps.apple.com/us/app/reliance-bank-mobile-banking/id1050676219
Saffron Building Society vs Reliance Bank Account Fees & Charges
| Saffron Building Society | Reliance Bank | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | £10 | £7.50 |
| Most Expensive Monthly Account Fee | £10 | £7.50 |
| Electronic Payment Cost (in/out) | Free | 25p |
| Cash Payments Cost (in/out) | Free | 30p / 25p per £100 |
| Cheques (in/out) | £1.50 | 30p / 25p |
| CHAPS Payments Cost | £15 | £15 |
| SEPA Payments Cost | 25p | 25p |
Saffron Building Society vs Reliance Bank Business Savings Rates
| Saffron Building Society | Reliance Bank | |
| Types of Business Savings Accounts | Regular Savings, Easy access, Fixed rate bonds, Notice accounts, Business/corporate accounts | Instant Access, Fixed Term, Notice Savings |
| Lowest Savings Rate (AER) | 1.20% | 2.15% |
| Maximum Savings Rate (AER) | 5.75% | 4.40% |
| Minimum Savings Amount | £1 | £1,000 |
| Interest Paid On Foreign Currencies | No | Yes |
Saffron Building Society vs Reliance Bank Account Opening Times
| Saffron Building Society | Reliance Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Undisclosed | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Saffron Building Society vs Reliance Bank Features & Account Types
| Saffron Building Society | Reliance Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | No | Yes |
| Accounts For Startups | No | No |
| 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 | Yes |
| Branch Locations | Locations in Essex only | London |
Saffron Building Society vs Reliance Bank Customer Support Options
| Saffron Building Society | Reliance 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 | Yes | Yes |
Saffron Building Society vs Reliance Bank Foreign Currency Accounts
| Saffron Building Society | Reliance 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 Reliance Bank
| Saffron Building Society | Reliance Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | No | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Saffron Building Society vs Reliance Bank Banking Basics
| Saffron Building Society | Reliance Bank | |
| Bank Type | Building Society | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 100015 | 204537 |
| Website | Saffron Building Society Website | Reliance Bank Website |
Common Comparison Questions
Does Saffron Building Society or Reliance 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, Reliance Bank scores 3.4 out of 5 based 4 Trustpilot reviews. Of which 25% are 5-star and 25% are 1-star.
Does Saffron Building Society or Reliance 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, Reliance Bank’s iPhone App is rated 4.7 out of 5 based on 451 reviews. And it’s Android App is rated 4 out of 5 based on 144 reviews.
Does Saffron Building Society or Reliance 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, Reliance Bank offers Instant Access, Fixed Term, Notice Savings accounts with interest rates ranging from 2.15% to 4.40% (AER).
See Other Comparisons:Saffron Building Society vs SumUp Business Account
Saffron Building Society vs Cambridge & Counties Bank
Saffron Building Society vs Recognise Bank
Saffron Building Society vs Dudley Building Society
Saffron Building Society vs MyPOS
For other business bank accounts see our guide here.