Is Virgin Money or Ulster Bank better for your small business?
Below we look at both Virgin Money and Ulster 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 Ulster Bank Trustpilot Reviews
| Virgin Money | Ulster Bank | |
| Trustpilot Review Score (out of 5) | 1.4 | 1.5 |
| Percent 5-Star Reviews | 5% | 8% |
| Percent 1- Star Reviews | 89% | 86% |
| Total Number of Reviews | 6,799 | 114 |
https://www.trustpilot.com/review/uk.virginmoney.com
https://www.trustpilot.com/review/www.ulsterbank.co.uk
Virgin Money vs Ulster Bank App Reviews
| Virgin Money | Ulster Bank | |
| iPhone Review Score (out of 5) | 4.6 | 4.8 |
| Number of iPhone Reviews | 125,000 | 15,700 |
| Android Review Score (out of 5) | 4 | 4.1 |
| Number of Android Reviews | 23,400 | 15,000 |
https://apps.apple.com/gb/app/virgin-money-mobile-banking/id1482269155
https://apps.apple.com/gb/app/ulster-bank-ni-mobile-banking/id469523324
Virgin Money vs Ulster Bank Account Fees & Charges
| Virgin Money | Ulster Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 25 Months | 24 Months |
| Cheapest Monthly Account Fee | No | £8 |
| Most Expensive Monthly Account Fee | No | £12 |
| Electronic Payment Cost (in/out) | Free | 43p |
| Cash Payments Cost (in/out) | 90p per £100 | 70p per £100 |
| Cheques (in/out) | 30p per cheque | 40p |
| CHAPS Payments Cost | £25 | £18.75 |
| SEPA Payments Cost | £20 | €0.51 |
Virgin Money vs Ulster Bank Business Savings Rates
| Virgin Money | Ulster Bank | |
| Types of Business Savings Accounts | Instant access accounts, Notice accounts, Fixed term deposit accounts | Instant access accounts, Fixed term accounts, Currency savings accounts |
| Lowest Savings Rate (AER) | 1.35% | 1.46% |
| Maximum Savings Rate (AER) | 5.15% | 1.92% |
| Minimum Savings Amount | £1 | No |
| Interest Paid On Foreign Currencies | Yes | Yes |
Virgin Money vs Ulster Bank Account Opening Times
| Virgin Money | Ulster Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 47 Working days | 24 working hours |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Virgin Money vs Ulster Bank Features & Account Types
| Virgin Money | Ulster Bank | |
| 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 | Northern Ireland Only |
Virgin Money vs Ulster Bank Customer Support Options
| Virgin Money | Ulster 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 Ulster Bank Foreign Currency Accounts
| Virgin Money | Ulster Bank | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Virgin Money and Ulster Bank
| Virgin Money | Ulster Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | No | Yes |
| Free Accounting Software | Yes | Yes |
Virgin Money vs Ulster Bank Banking Basics
| Virgin Money | Ulster Bank | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 121873 | NA |
| Website | Virgin Money Website | Ulster Bank Website |
Common Comparison Questions
Does Virgin Money or Ulster 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, Ulster Bank scores 1.5 out of 5 based 114 Trustpilot reviews. Of which 8% are 5-star and 86% are 1-star.
Does Virgin Money or Ulster 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, 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.
Does Virgin Money or Ulster 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, Ulster Bank offers Instant access accounts, Fixed term accounts, Currency savings accounts accounts with interest rates ranging from 1.46% to 1.92% (AER).
See Other Comparisons:Virgin Money vs Kent Reliance
Virgin Money vs Cynergy Bank
Virgin Money vs Zempler Bank (formerly Cashplus)
Virgin Money vs Co-operative Bank
Virgin Money vs Aldermore
For other business bank accounts see our guide here.