Is Santander or Lloyds Bank better for your small business?
Below we look at both Santander and Lloyds 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.
Santander vs Lloyds Bank Trustpilot Reviews
| Santander | Lloyds Bank | |
| Trustpilot Review Score (out of 5) | 1.4 | 1.7 |
| Percent 5-Star Reviews | 8% | 13% |
| Percent 1- Star Reviews | 85% | 79% |
| Total Number of Reviews | 6,868 | 4,311 |
https://www.trustpilot.com/review/www.santander.co.uk
https://www.trustpilot.com/review/lloydsbank.com
Santander vs Lloyds Bank App Reviews
| Santander | Lloyds Bank | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,100,000 | 1,900,000 |
| Android Review Score (out of 5) | 4.4 | 4.6 |
| Number of Android Reviews | 54,300 | 317,000 |
https://apps.apple.com/gb/app/santander-mobile-banking/id482973524
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
Santander vs Lloyds Bank Account Fees & Charges
| Santander | Lloyds Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 18 Months | 12 Months |
| Cheapest Monthly Account Fee | Free | £8.50 |
| Most Expensive Monthly Account Fee | £7.50 | £8.50 |
| Electronic Payment Cost (in/out) | Free | Free / 20p |
| Cash Payments Cost (in/out) | 70p per £100 | £85p / £1.50 per £100 |
| Cheques (in/out) | Unknown | 85p per cheque |
| CHAPS Payments Cost | £25 | £30 |
| SEPA Payments Cost | No | £5 |
Santander vs Lloyds Bank Business Savings Rates
| Santander | Lloyds Bank | |
| Types of Business Savings Accounts | Instant access, Business Reward Saver, Fixed Rate Business Bond, Treasurer’s Savings Account | Fixed Term Deposit, Instant access account, Notice accounts |
| Lowest Savings Rate (AER) | 0.40% | 1.31% |
| Maximum Savings Rate (AER) | 3.60% | 4.37% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Santander vs Lloyds Bank Account Opening Times
| Santander | Lloyds Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Few minutes | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Santander vs Lloyds Bank Features & Account Types
| Santander | Lloyds Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | UK-wide | UK-wide |
Santander vs Lloyds Bank Customer Support Options
| Santander | Lloyds 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 |
Santander vs Lloyds Bank Foreign Currency Accounts
| Santander | Lloyds 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 Santander and Lloyds Bank
| Santander | Lloyds Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | Yes |
| Free Accounting Software | Yes | Yes |
Santander vs Lloyds Bank Banking Basics
| Santander | Lloyds Bank | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 106054 | 119278 |
| Website | Santander Website | Lloyds Bank Website |
Common Comparison Questions
Does Santander or Lloyds Bank have better customer reviews?
Santander scores 1.4 out of 5 based 6,868 Trustpilot reviews. Of these reviews 8% are 5-star and 85% are 1-star.
Whereas, Lloyds Bank scores 1.7 out of 5 based 4,311 Trustpilot reviews. Of which 13% are 5-star and 79% are 1-star.
Does Santander or Lloyds Bank have a better App?
Santander’s iPhone App is rated 4.8 out of 5 based on 1,100,000 reviews. And it’s Android App is rated 4.4 out of 5 based on 54,300 reviews.
In comparison, Lloyds Bank’s iPhone App is rated 4.8 out of 5 based on 1,900,000 reviews. And it’s Android App is rated 4.6 out of 5 based on 317,000 reviews.
Does Santander or Lloyds Bank have better business savings rates?
Santander offers the following types of business savings accounts: Instant access, Business Reward Saver, Fixed Rate Business Bond, Treasurer’s Savings Account with interest rates ranging from 0.40% to 3.60%. (AER)
In contrast, Lloyds Bank offers Fixed Term Deposit, Instant access account, Notice accounts accounts with interest rates ranging from 1.31% to 4.37% (AER).
See Other Comparisons:Santander vs Tide
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Santander vs Metro Bank
For other business bank accounts see our guide here.