Is Ulster Bank or Reliance Bank better for your small business?
Below we look at both Ulster Bank and Reliance 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.
Ulster Bank vs Reliance Bank Trustpilot Reviews
| Ulster Bank | Reliance Bank | |
| Trustpilot Review Score (out of 5) | 1.5 | 3.4 |
| Percent 5-Star Reviews | 8% | 25% |
| Percent 1- Star Reviews | 86% | 25% |
| Total Number of Reviews | 114 | 4 |
https://www.trustpilot.com/review/www.ulsterbank.co.uk
https://www.trustpilot.com/review/www.reliancebankltd.com
Ulster Bank vs Reliance Bank App Reviews
| Ulster Bank | Reliance Bank | |
| iPhone Review Score (out of 5) | 4.8 | 4.7 |
| Number of iPhone Reviews | 15,700 | 451 |
| Android Review Score (out of 5) | 4.1 | 4 |
| Number of Android Reviews | 15,000 | 144 |
https://apps.apple.com/gb/app/ulster-bank-ni-mobile-banking/id469523324
https://apps.apple.com/us/app/reliance-bank-mobile-banking/id1050676219
Ulster Bank vs Reliance Bank Account Fees & Charges
| Ulster Bank | Reliance Bank | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 24 Months | NA |
| Cheapest Monthly Account Fee | £8 | £7.50 |
| Most Expensive Monthly Account Fee | £12 | £7.50 |
| Electronic Payment Cost (in/out) | 43p | 25p |
| Cash Payments Cost (in/out) | 70p per £100 | 30p / 25p per £100 |
| Cheques (in/out) | 40p | 30p / 25p |
| CHAPS Payments Cost | £18.75 | £15 |
| SEPA Payments Cost | €0.51 | 25p |
Ulster Bank vs Reliance Bank Business Savings Rates
| Ulster Bank | Reliance Bank | |
| Types of Business Savings Accounts | Instant access accounts, Fixed term accounts, Currency savings accounts | Instant Access, Fixed Term, Notice Savings |
| Lowest Savings Rate (AER) | 1.46% | 2.15% |
| Maximum Savings Rate (AER) | 1.92% | 4.40% |
| Minimum Savings Amount | No | £1,000 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Ulster Bank vs Reliance Bank Account Opening Times
| Ulster Bank | Reliance Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 24 working hours | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Ulster Bank vs Reliance Bank Features & Account Types
| Ulster Bank | Reliance Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | No |
| 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 | Yes |
| Branch Locations | Northern Ireland Only | London |
Ulster Bank vs Reliance Bank Customer Support Options
| Ulster Bank | Reliance Bank | |
| 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 |
Ulster Bank vs Reliance Bank Foreign Currency Accounts
| Ulster Bank | Reliance 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 Ulster Bank and Reliance Bank
| Ulster Bank | Reliance Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | No | Yes |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Ulster Bank vs Reliance Bank Banking Basics
| Ulster Bank | Reliance Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | NA | 204537 |
| Website | Ulster Bank Website | Reliance Bank Website |
Common Comparison Questions
Does Ulster Bank or Reliance Bank 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, Reliance Bank scores 3.4 out of 5 based 4 Trustpilot reviews. Of which 25% are 5-star and 25% are 1-star.
Does Ulster Bank or Reliance Bank 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, Reliance Bank’s iPhone App is rated 4.7 out of 5 based on 451 reviews. And it’s Android App is rated 4 out of 5 based on 144 reviews.
Does Ulster Bank or Reliance Bank 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, Reliance Bank offers Instant Access, Fixed Term, Notice Savings accounts with interest rates ranging from 2.15% to 4.40% (AER).
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For other business bank accounts see our guide here.