Is Virgin Money or Allica Bank better for your small business?
Below we look at both Virgin Money and Allica 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.
Virgin Money vs Allica Bank Trustpilot Reviews
| Virgin Money | Allica Bank | |
| Trustpilot Review Score (out of 5) | 1.4 | 4.5 |
| Percent 5-Star Reviews | 5% | 76% |
| Percent 1- Star Reviews | 89% | 6% |
| Total Number of Reviews | 6,799 | 815 |
https://www.trustpilot.com/review/uk.virginmoney.com
https://www.trustpilot.com/review/www.allica.bank
Virgin Money vs Allica Bank App Reviews
| Virgin Money | Allica Bank | |
| iPhone Review Score (out of 5) | 4.6 | 4.8 |
| Number of iPhone Reviews | 125,000 | 503 |
| Android Review Score (out of 5) | 4 | 4.4 |
| Number of Android Reviews | 23,400 | 107 |
https://apps.apple.com/gb/app/virgin-money-mobile-banking/id1482269155
https://apps.apple.com/gb/app/allica-bank/id1489138340
Virgin Money vs Allica Bank Account Fees & Charges
| Virgin Money | Allica Bank | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 25 Months | NA |
| Cheapest Monthly Account Fee | No | No |
| Most Expensive Monthly Account Fee | No | No |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 90p per £100 | Free |
| Cheques (in/out) | 30p per cheque | Unknown |
| CHAPS Payments Cost | £25 | £20 |
| SEPA Payments Cost | £20 | No |
Virgin Money vs Allica Bank Business Savings Rates
| Virgin Money | Allica Bank | |
| Types of Business Savings Accounts | Instant access accounts, Notice accounts, Fixed term deposit accounts | Easy Access, Notice Account |
| Lowest Savings Rate (AER) | 1.35% | 3.65% |
| Maximum Savings Rate (AER) | 5.15% | 5.10% |
| Minimum Savings Amount | £1 | £20,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Virgin Money vs Allica Bank Account Opening Times
| Virgin Money | Allica Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 47 Working days | 3 to 5 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Virgin Money vs Allica Bank Features & Account Types
| Virgin Money | Allica 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 | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | Northern England and Scotland only | Milton Keynes, London and Manchester |
Virgin Money vs Allica Bank Customer Support Options
| Virgin Money | Allica 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 |
Virgin Money vs Allica Bank Foreign Currency Accounts
| Virgin Money | Allica Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: | No | No |
Other Business Services From Virgin Money and Allica Bank
| Virgin Money | Allica Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | No | No |
| Free Accounting Software | Yes | No |
Virgin Money vs Allica Bank Banking Basics
| Virgin Money | Allica Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 121873 | 821851 |
| Website | Virgin Money Website | Allica Bank Website |
Common Comparison Questions
Does Virgin Money or Allica Bank have better customer reviews?
Virgin Money scores 1.4 out of 5 based 6,799 Trustpilot reviews. Of these reviews 5% are 5-star and 89% are 1-star.
Whereas, Allica Bank scores 4.5 out of 5 based 815 Trustpilot reviews. Of which 76% are 5-star and 6% are 1-star.
Does Virgin Money or Allica Bank have a better App?
Virgin Money’s iPhone App is rated 4.6 out of 5 based on 125,000 reviews. And it’s Android App is rated 4 out of 5 based on 23,400 reviews.
In comparison, Allica Bank’s iPhone App is rated 4.8 out of 5 based on 503 reviews. And it’s Android App is rated 4.4 out of 5 based on 107 reviews.
Does Virgin Money or Allica Bank have better business savings rates?
Virgin Money offers the following types of business savings accounts: Instant access accounts, Notice accounts, Fixed term deposit accounts with interest rates ranging from 1.35% to 5.15%. (AER)
In contrast, Allica Bank offers Easy Access, Notice Account accounts with interest rates ranging from 3.65% to 5.10% (AER).
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For other business bank accounts see our guide here.