Is Virgin Money or State Bank of India (UK) better for your small business?
Below we look at both Virgin Money and State Bank of India (UK) 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.
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Virgin Money vs State Bank of India (UK) Trustpilot Reviews
| Virgin Money | State Bank of India (UK) | |
| Trustpilot Review Score (out of 5) | 1.4 | 3.7 |
| Percent 5-Star Reviews | 5% | 33% |
| Percent 1- Star Reviews | 89% | 34% |
| Total Number of Reviews | 6,799 | 3 |
https://www.trustpilot.com/review/uk.virginmoney.com
https://www.trustpilot.com/review/sbiuk.statebank
Virgin Money vs State Bank of India (UK) App Reviews
| Virgin Money | State Bank of India (UK) | |
| iPhone Review Score (out of 5) | 4.6 | 2.4 |
| Number of iPhone Reviews | 125,000 | 253 |
| Android Review Score (out of 5) | 4 | 1.7 |
| Number of Android Reviews | 23,400 | 1,640 |
https://apps.apple.com/gb/app/virgin-money-mobile-banking/id1482269155
https://apps.apple.com/gb/app/yono-sbi-uk/id1454780358
Virgin Money vs State Bank of India (UK) Account Fees & Charges
| Virgin Money | State Bank of India (UK) | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 25 Months | NA |
| Cheapest Monthly Account Fee | No | £80 |
| Most Expensive Monthly Account Fee | No | £120 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 90p per £100 | £3 / Free |
| Cheques (in/out) | 30p per cheque | £10.00 per cheque |
| CHAPS Payments Cost | £25 | £25 |
| SEPA Payments Cost | £20 | £25 |
Virgin Money vs State Bank of India (UK) Business Savings Rates
| Virgin Money | State Bank of India (UK) | |
| Types of Business Savings Accounts | Instant access accounts, Notice accounts, Fixed term deposit accounts | Instant Access, Notice Savings, Fixed Deposit, Limited Access |
| Lowest Savings Rate (AER) | 1.35% | 1.95% |
| Maximum Savings Rate (AER) | 5.15% | 5.00% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Virgin Money vs State Bank of India (UK) Account Opening Times
| Virgin Money | State Bank of India (UK) | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 47 Working days | 3 to 4 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Virgin Money vs State Bank of India (UK) Features & Account Types
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| Virgin Money | State Bank of India (UK) | |
| Business Current Account | Yes | Yes |
| 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 | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | Northern England and Scotland only | Limited locations in London and Midlands |
Virgin Money vs State Bank of India (UK) Customer Support Options
| Virgin Money | State Bank of India (UK) | |
| 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 State Bank of India (UK) Foreign Currency Accounts
| Virgin Money | State Bank of India (UK) | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Virgin Money and State Bank of India (UK)
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| Virgin Money | State Bank of India (UK) | |
| 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 State Bank of India (UK) Banking Basics
| Virgin Money | State Bank of India (UK) | |
| Bank Type | High Street | Foreign Bank |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 121873 | 757156 |
| Website | Virgin Money Website | State Bank of India (UK) Website |
Common Comparison Questions
Does Virgin Money or State Bank of India (UK) 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, State Bank of India (UK) scores 3.7 out of 5 based 3 Trustpilot reviews. Of which 33% are 5-star and 34% are 1-star.
Does Virgin Money or State Bank of India (UK) 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, State Bank of India (UK)’s iPhone App is rated 2.4 out of 5 based on 253 reviews. And it’s Android App is rated 1.7 out of 5 based on 1,640 reviews.
Does Virgin Money or State Bank of India (UK) 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, State Bank of India (UK) offers Instant Access, Notice Savings, Fixed Deposit, Limited Access accounts with interest rates ranging from 1.95% to 5.00% (AER).
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For other business bank accounts see our guide here.