Is Santander or Monese better for your small business?
Below we look at both Santander and Monese 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 Monese Trustpilot Reviews
| Santander | Monese | |
| Trustpilot Review Score (out of 5) | 1.4 | 4.3 |
| Percent 5-Star Reviews | 8% | 68% |
| Percent 1- Star Reviews | 85% | 17% |
| Total Number of Reviews | 6,868 | 40,330 |
https://www.trustpilot.com/review/www.santander.co.uk
https://www.trustpilot.com/review/www.monese.com
Santander vs Monese App Reviews
| Santander | Monese | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,100,000 | 68,100 |
| Android Review Score (out of 5) | 4.4 | 4.5 |
| Number of Android Reviews | 54,300 | 101,000 |
https://apps.apple.com/gb/app/santander-mobile-banking/id482973524
https://apps.apple.com/gb/app/monese-a-banking-alternative/id1102793407
Santander vs Monese Account Fees & Charges
| Santander | Monese | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 18 Months | NA |
| Cheapest Monthly Account Fee | Free | £5.95 |
| Most Expensive Monthly Account Fee | £7.50 | £14.95 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 70p per £100 | 3.5% / 2% |
| Cheques (in/out) | Unknown | Free |
| CHAPS Payments Cost | £25 | No |
| SEPA Payments Cost | No | No |
Santander vs Monese Business Savings Rates
| Santander | Monese | |
| Types of Business Savings Accounts | Instant access, Business Reward Saver, Fixed Rate Business Bond, Treasurer’s Savings Account | None |
| Lowest Savings Rate (AER) | 0.40% | NA |
| Maximum Savings Rate (AER) | 3.60% | NA |
| Minimum Savings Amount | £1 | NA |
| Interest Paid On Foreign Currencies | Yes | Yes |
Santander vs Monese Account Opening Times
| Santander | Monese | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Few minutes | 1 day |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | Yes |
Santander vs Monese Features & Account Types
| Santander | Monese | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | No |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | No |
| 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 | UK-wide | None, online only |
Santander vs Monese Customer Support Options
| Santander | Monese | |
| 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 |
Santander vs Monese Foreign Currency Accounts
| Santander | Monese | |
| 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 Monese
| Santander | Monese | |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Santander vs Monese Banking Basics
| Santander | Monese | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | No |
| FCA Number | 106054 | 900960 |
| Website | Santander Website | Monese Website |
Common Comparison Questions
Does Santander or Monese 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, Monese scores 4.3 out of 5 based 40,330 Trustpilot reviews. Of which 68% are 5-star and 17% are 1-star.
Does Santander or Monese 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, Monese’s iPhone App is rated 4.8 out of 5 based on 68,100 reviews. And it’s Android App is rated 4.5 out of 5 based on 101,000 reviews.
Does Santander or Monese 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, Monese offers None accounts with interest rates ranging from NA to NA (AER).
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For other business bank accounts see our guide here.