Is Virgin Money or Shawbrook Bank better for your small business?
Below we look at both Virgin Money and Shawbrook 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 Shawbrook Bank Trustpilot Reviews
| Virgin Money | Shawbrook Bank | |
| Trustpilot Review Score (out of 5) | 1.4 | 4.7 |
| Percent 5-Star Reviews | 5% | 85% |
| Percent 1- Star Reviews | 89% | 7% |
| Total Number of Reviews | 6,799 | 10,747 |
https://www.trustpilot.com/review/uk.virginmoney.com
https://www.trustpilot.com/review/www.shawbrook.co.uk
Virgin Money vs Shawbrook Bank App Reviews
| Virgin Money | Shawbrook Bank | |
| iPhone Review Score (out of 5) | 4.6 | No Rating |
| Number of iPhone Reviews | 125,000 | No Reviews |
| Android Review Score (out of 5) | 4 | No Rating |
| Number of Android Reviews | 23,400 | No Reviews |
https://apps.apple.com/gb/app/virgin-money-mobile-banking/id1482269155
https://www.apple.com/uk/app-store/
Virgin Money vs Shawbrook Bank Account Fees & Charges
| Virgin Money | Shawbrook Bank | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 25 Months | NA |
| Cheapest Monthly Account Fee | No | Free |
| Most Expensive Monthly Account Fee | No | £12 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 90p per £100 | Free |
| Cheques (in/out) | 30p per cheque | Free |
| CHAPS Payments Cost | £25 | £35 |
| SEPA Payments Cost | £20 | No |
Virgin Money vs Shawbrook Bank Business Savings Rates
| Virgin Money | Shawbrook Bank | |
| Types of Business Savings Accounts | Instant access accounts, Notice accounts, Fixed term deposit accounts | Easy Access, Fixed Rate, Notice Accounts |
| Lowest Savings Rate (AER) | 1.35% | 3.66% |
| Maximum Savings Rate (AER) | 5.15% | 5.03% |
| Minimum Savings Amount | £1 | £1,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Virgin Money vs Shawbrook Bank Account Opening Times
| Virgin Money | Shawbrook Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 47 Working days | 5 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | No |
Virgin Money vs Shawbrook Bank Features & Account Types
| Virgin Money | Shawbrook Bank | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| 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 | None |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | No |
| In Person/Branch Banking | Yes | No |
| Branch Locations | Northern England and Scotland only | Limited locations accross the UK |
Virgin Money vs Shawbrook Bank Customer Support Options
| Virgin Money | Shawbrook 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 |
Virgin Money vs Shawbrook Bank Foreign Currency Accounts
| Virgin Money | Shawbrook 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 Shawbrook Bank
| Virgin Money | Shawbrook Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | No | No |
| Free Accounting Software | Yes | No |
Virgin Money vs Shawbrook Bank Banking Basics
| Virgin Money | Shawbrook Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 121873 | 204574 |
| Website | Virgin Money Website | Shawbrook Bank Website |
Common Comparison Questions
Does Virgin Money or Shawbrook 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, Shawbrook Bank scores 4.7 out of 5 based 10,747 Trustpilot reviews. Of which 85% are 5-star and 7% are 1-star.
Does Virgin Money or Shawbrook 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, Shawbrook 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 Virgin Money or Shawbrook 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, Shawbrook Bank offers Easy Access, Fixed Rate, Notice Accounts accounts with interest rates ranging from 3.66% to 5.03% (AER).
See Other Comparisons:Virgin Money vs RBS (Royal Bank of Scotland)
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Virgin Money vs Danske Bank UK
Virgin Money vs Ulster Bank
For other business bank accounts see our guide here.