Is Santander or TSB better for your small business?
Below we look at both Santander and TSB 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 TSB Trustpilot Reviews
Santander | TSB | |
Trustpilot Review Score (out of 5) | 1.4 | 4.2 |
Percent 5-Star Reviews | 8% | 56% |
Percent 1- Star Reviews | 85% | 27% |
Total Number of Reviews | 6,868 | 21,942 |
https://www.trustpilot.com/review/www.santander.co.uk
https://www.trustpilot.com/review/tsb.co.uk
Santander vs TSB App Reviews
Santander | TSB | |
iPhone Review Score (out of 5) | 4.8 | 4.8 |
Number of iPhone Reviews | 1,100,000 | 457,400 |
Android Review Score (out of 5) | 4.4 | 4.4 |
Number of Android Reviews | 54,300 | 197,000 |
https://apps.apple.com/gb/app/santander-mobile-banking/id482973524
https://apps.apple.com/gb/app/tsb-mobile-banking/id1160720878
Santander vs TSB Account Fees & Charges
Santander | TSB | |
Free Business Bank Account | Yes | Yes |
Free Business Account Term Length | 18 Months | 30 Months |
Cheapest Monthly Account Fee | Free | £5 |
Most Expensive Monthly Account Fee | £7.50 | £40 |
Electronic Payment Cost (in/out) | Free | Free |
Cash Payments Cost (in/out) | 70p per £100 | 70p per £100 |
Cheques (in/out) | Unknown | 70p |
CHAPS Payments Cost | £25 | £30 |
SEPA Payments Cost | No | £2 |
Santander vs TSB Business Savings Rates
Santander | TSB | |
Types of Business Savings Accounts | Instant access, Business Reward Saver, Fixed Rate Business Bond, Treasurer’s Savings Account | Instant Access, Fixed Bonds |
Lowest Savings Rate (AER) | 0.40% | 1.35% |
Maximum Savings Rate (AER) | 3.60% | 4.30% |
Minimum Savings Amount | £1 | £1 |
Interest Paid On Foreign Currencies | Yes | Yes |
Santander vs TSB Account Opening Times
Santander | TSB | |
Can You Apply Online? | Yes | Yes |
How Long Does Opening An Account Typically Take? | Few minutes | 10 Working days |
Do They Check Your Credit? | Yes | Yes |
Current Account Switch Service | Yes | Yes |
Santander vs TSB Features & Account Types


Santander | TSB | |
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 | 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 | Yes |
Branch Locations | UK-wide | UK-wide |
Santander vs TSB Customer Support Options
Santander | TSB | |
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 TSB Foreign Currency Accounts
Santander | TSB | |
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 TSB


Santander | TSB | |
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 | No |
Santander vs TSB Banking Basics
Santander | TSB | |
Bank Type | High Street | High Street |
FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
FCA Number | 106054 | 191240 |
Website | Santander Website | TSB Website |
Common Comparison Questions
Does Santander or TSB 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, TSB scores 4.2 out of 5 based 21,942 Trustpilot reviews. Of which 56% are 5-star and 27% are 1-star.
Does Santander or TSB 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, TSB’s iPhone App is rated 4.8 out of 5 based on 457,400 reviews. And it’s Android App is rated 4.4 out of 5 based on 197,000 reviews.
Does Santander or TSB 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, TSB offers Instant Access, Fixed Bonds accounts with interest rates ranging from 1.35% to 4.30% (AER).
See Other Comparisons:Santander vs Starling Bank
Santander vs Shawbrook Bank
Santander vs RBS (Royal Bank of Scotland)
Santander vs Wise
Santander vs Revolut Business
For other business bank accounts see our guide here.