Is Triodos Bank or Redwood Bank better for your small business?
Below we look at both Triodos Bank and Redwood 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.
Triodos Bank vs Redwood Bank Trustpilot Reviews
| Triodos Bank | Redwood Bank | |
| Trustpilot Review Score (out of 5) | 4.1 | 2.9 |
| Percent 5-Star Reviews | 58% | 46% |
| Percent 1- Star Reviews | 22% | 39% |
| Total Number of Reviews | 514 | 13 |
https://www.trustpilot.com/review/triodos.co.uk
https://www.trustpilot.com/review/redwoodbank.co.uk
Triodos Bank vs Redwood Bank App Reviews
| Triodos Bank | Redwood Bank | |
| iPhone Review Score (out of 5) | 4.6 | No Rating |
| Number of iPhone Reviews | 1,700 | No Reviews |
| Android Review Score (out of 5) | 4.6 | No Rating |
| Number of Android Reviews | 851 | No Reviews |
https://apps.apple.com/gb/app/triodos-bank-uk/id1238649529
https://www.apple.com/uk/app-store/
Triodos Bank vs Redwood Bank Account Fees & Charges
| Triodos Bank | Redwood Bank | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | £3 | £10 |
| Most Expensive Monthly Account Fee | £3 | £15 |
| Electronic Payment Cost (in/out) | No | Free |
| Cash Payments Cost (in/out) | Free / £1 | 70p per £100 |
| Cheques (in/out) | £1 | £1 |
| CHAPS Payments Cost | £20 | £25 |
| SEPA Payments Cost | No | No |
Triodos Bank vs Redwood Bank Business Savings Rates
| Triodos Bank | Redwood Bank | |
| Types of Business Savings Accounts | None | Fixed Term, Notice Savings |
| Lowest Savings Rate (AER) | NA | 3.75% |
| Maximum Savings Rate (AER) | NA | 4.70% |
| Minimum Savings Amount | NA | £10,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Triodos Bank vs Redwood Bank Account Opening Times
| Triodos Bank | Redwood Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 2 Working days | Few minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | No |
Triodos Bank vs Redwood Bank Features & Account Types
| Triodos Bank | Redwood Bank | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | Yes |
| Business Credit Card | No | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | No | Yes |
| Accounts For Charities | No | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Mastercard | None |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | No |
| In Person/Branch Banking | No | No |
| Branch Locations | Bristol, London and Edinburgh | Letchworth Garden City, and Warrington |
Triodos Bank vs Redwood Bank Customer Support Options
| Triodos Bank | Redwood 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 | No | No |
Triodos Bank vs Redwood Bank Foreign Currency Accounts
| Triodos Bank | Redwood Bank | |
| US Dollar (USD) Bank Accounts | No | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Triodos Bank and Redwood Bank
| Triodos Bank | Redwood Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | No | Yes |
| Invoice Financing | No | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Triodos Bank vs Redwood Bank Banking Basics
| Triodos Bank | Redwood Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 817008 | 755924 |
| Website | Triodos Bank Website | Redwood Bank Website |
Common Comparison Questions
Does Triodos Bank or Redwood Bank have better customer reviews?
Triodos Bank scores 4.1 out of 5 based 514 Trustpilot reviews. Of these reviews 58% are 5-star and 22% are 1-star.
Whereas, Redwood Bank scores 2.9 out of 5 based 13 Trustpilot reviews. Of which 46% are 5-star and 39% are 1-star.
Does Triodos Bank or Redwood Bank have a better App?
Triodos Bank’s iPhone App is rated 4.6 out of 5 based on 1,700 reviews. And it’s Android App is rated 4.6 out of 5 based on 851 reviews.
In comparison, Redwood 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 Triodos Bank or Redwood Bank have better business savings rates?
Triodos Bank offers the following types of business savings accounts: None with interest rates ranging from NA to NA. (AER)
In contrast, Redwood Bank offers Fixed Term, Notice Savings accounts with interest rates ranging from 3.75% to 4.70% (AER).
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For other business bank accounts see our guide here.