Is TSB or Recognise Bank better for your small business?
Below we look at both TSB and Recognise 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.
TSB vs Recognise Bank Trustpilot Reviews
| TSB | Recognise Bank | |
| Trustpilot Review Score (out of 5) | 4.2 | 4.6 |
| Percent 5-Star Reviews | 56% | 77% |
| Percent 1- Star Reviews | 27% | 5% |
| Total Number of Reviews | 21,942 | 539 |
https://www.trustpilot.com/review/tsb.co.uk
https://www.trustpilot.com/review/recognisebank.co.uk
TSB vs Recognise Bank App Reviews
| TSB | Recognise Bank | |
| iPhone Review Score (out of 5) | 4.8 | No Rating |
| Number of iPhone Reviews | 457,400 | No Reviews |
| Android Review Score (out of 5) | 4.4 | No Rating |
| Number of Android Reviews | 197,000 | No Reviews |
https://apps.apple.com/gb/app/tsb-mobile-banking/id1160720878
https://www.apple.com/uk/app-store/
TSB vs Recognise Bank Account Fees & Charges
| TSB | Recognise Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 30 Months | No Limit |
| Cheapest Monthly Account Fee | £5 | No |
| Most Expensive Monthly Account Fee | £40 | No |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 70p per £100 | Free |
| Cheques (in/out) | 70p | Free |
| CHAPS Payments Cost | £30 | £15 |
| SEPA Payments Cost | £2 | 25p |
TSB vs Recognise Bank Business Savings Rates
| TSB | Recognise Bank | |
| Types of Business Savings Accounts | Instant Access, Fixed Bonds | Notice account, Fixed Rate, Instant access |
| Lowest Savings Rate (AER) | 1.35% | 3.15% |
| Maximum Savings Rate (AER) | 4.30% | 4.50% |
| Minimum Savings Amount | £1 | £1,000 |
| Interest Paid On Foreign Currencies | Yes | Yes |
TSB vs Recognise Bank Account Opening Times
| TSB | Recognise Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 10 Working days | Few minutes |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | No |
TSB vs Recognise Bank Features & Account Types
| TSB | Recognise Bank | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | No | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Mastercard | None |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | No |
| In Person/Branch Banking | Yes | No |
| Branch Locations | UK-wide | None, online and phone only |
TSB vs Recognise Bank Customer Support Options
| TSB | Recognise 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 | Yes | No |
TSB vs Recognise Bank Foreign Currency Accounts
| TSB | Recognise 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 TSB and Recognise Bank
| TSB | Recognise Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | No |
| International Payments | Yes | No |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | No | No |
TSB vs Recognise Bank Banking Basics
| TSB | Recognise Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 191240 | 849404 |
| Website | TSB Website | Recognise Bank Website |
Common Comparison Questions
Does TSB or Recognise Bank have better customer reviews?
TSB scores 4.2 out of 5 based 21,942 Trustpilot reviews. Of these reviews 56% are 5-star and 27% are 1-star.
Whereas, Recognise Bank scores 4.6 out of 5 based 539 Trustpilot reviews. Of which 77% are 5-star and 5% are 1-star.
Does TSB or Recognise Bank have a better App?
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.
In comparison, Recognise 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 TSB or Recognise Bank have better business savings rates?
TSB offers the following types of business savings accounts: Instant Access, Fixed Bonds with interest rates ranging from 1.35% to 4.30%. (AER)
In contrast, Recognise Bank offers Notice account, Fixed Rate, Instant access accounts with interest rates ranging from 3.15% to 4.50% (AER).
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For other business bank accounts see our guide here.