Is Ulster Bank or OakNorth better for your small business?
Below we look at both Ulster Bank and OakNorth 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.
Ulster Bank vs OakNorth Trustpilot Reviews
| Ulster Bank | OakNorth | |
| Trustpilot Review Score (out of 5) | 1.5 | 4.8 |
| Percent 5-Star Reviews | 8% | 84% |
| Percent 1- Star Reviews | 86% | 3% |
| Total Number of Reviews | 114 | 8,904 |
https://www.trustpilot.com/review/www.ulsterbank.co.uk
https://www.trustpilot.com/review/oaknorth.co.uk
Ulster Bank vs OakNorth App Reviews
| Ulster Bank | OakNorth | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 15,700 | 1,600 |
| Android Review Score (out of 5) | 4.1 | 4.8 |
| Number of Android Reviews | 15,000 | 468 |
https://apps.apple.com/gb/app/ulster-bank-ni-mobile-banking/id469523324
https://apps.apple.com/gb/app/oaknorth-savings/id1476387507
Ulster Bank vs OakNorth Account Fees & Charges
| Ulster Bank | OakNorth | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 24 Months | NA |
| Cheapest Monthly Account Fee | £8 | £25 |
| Most Expensive Monthly Account Fee | £12 | £99.99 |
| Electronic Payment Cost (in/out) | 43p | Free |
| Cash Payments Cost (in/out) | 70p per £100 | 70p per £100 |
| Cheques (in/out) | 40p | £1 per cheque |
| CHAPS Payments Cost | £18.75 | £17 |
| SEPA Payments Cost | €0.51 | No |
Ulster Bank vs OakNorth Business Savings Rates
| Ulster Bank | OakNorth | |
| Types of Business Savings Accounts | Instant access accounts, Fixed term accounts, Currency savings accounts | Fixed Term, Notice Accounts, Easy Access |
| Lowest Savings Rate (AER) | 1.46% | 3.85% |
| Maximum Savings Rate (AER) | 1.92% | 3.85% |
| Minimum Savings Amount | No | £10,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Ulster Bank vs OakNorth Account Opening Times
| Ulster Bank | OakNorth | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 24 working hours | Few minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | No |
Ulster Bank vs OakNorth Features & Account Types
| Ulster Bank | OakNorth | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| 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 | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | No |
| Branch Locations | Northern Ireland Only | None, online and phone only |
Ulster Bank vs OakNorth Customer Support Options
| Ulster Bank | OakNorth | |
| 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 |
Ulster Bank vs OakNorth Foreign Currency Accounts
| Ulster Bank | OakNorth | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Ulster Bank and OakNorth
| Ulster Bank | OakNorth | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | No | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Ulster Bank vs OakNorth Banking Basics
| Ulster Bank | OakNorth | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | NA | 629564 |
| Website | Ulster Bank Website | OakNorth Website |
Common Comparison Questions
Does Ulster Bank or OakNorth have better customer reviews?
Ulster Bank scores 1.5 out of 5 based 114 Trustpilot reviews. Of these reviews 8% are 5-star and 86% are 1-star.
Whereas, OakNorth scores 4.8 out of 5 based 8,904 Trustpilot reviews. Of which 84% are 5-star and 3% are 1-star.
Does Ulster Bank or OakNorth have a better App?
Ulster Bank’s iPhone App is rated 4.8 out of 5 based on 15,700 reviews. And it’s Android App is rated 4.1 out of 5 based on 15,000 reviews.
In comparison, OakNorth’s iPhone App is rated 4.8 out of 5 based on 1,600 reviews. And it’s Android App is rated 4.8 out of 5 based on 468 reviews.
Does Ulster Bank or OakNorth have better business savings rates?
Ulster Bank offers the following types of business savings accounts: Instant access accounts, Fixed term accounts, Currency savings accounts with interest rates ranging from 1.46% to 1.92%. (AER)
In contrast, OakNorth offers Fixed Term, Notice Accounts, Easy Access accounts with interest rates ranging from 3.85% to 3.85% (AER).
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For other business bank accounts see our guide here.