Is Wise or Allica Bank better for your small business?
Below we look at both Wise 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.
Wise vs Allica Bank Trustpilot Reviews
| Wise | Allica Bank | |
| Trustpilot Review Score (out of 5) | 4.2 | 4.5 |
| Percent 5-Star Reviews | 83% | 76% |
| Percent 1- Star Reviews | 7% | 6% |
| Total Number of Reviews | 207,506 | 815 |
https://www.trustpilot.com/review/wise.com
https://www.trustpilot.com/review/www.allica.bank
Wise vs Allica Bank App Reviews
| Wise | Allica Bank | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 85,400 | 503 |
| Android Review Score (out of 5) | 4.8 | 4.4 |
| Number of Android Reviews | 762,000 | 107 |
https://apps.apple.com/gb/app/wise/id612261027
https://apps.apple.com/gb/app/allica-bank/id1489138340
Wise vs Allica Bank Account Fees & Charges
| Wise | Allica Bank | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | Free | No |
| Most Expensive Monthly Account Fee | Free | No |
| Electronic Payment Cost (in/out) | 0.42% | Free |
| Cash Payments Cost (in/out) | 2% / 1.75% | Free |
| Cheques (in/out) | Unknown | Unknown |
| CHAPS Payments Cost | £25 | £20 |
| SEPA Payments Cost | No | No |
Wise vs Allica Bank Business Savings Rates
| Wise | Allica Bank | |
| Types of Business Savings Accounts | BlackRock ICS Sterling Government Liquidity Fund | Easy Access, Notice Account |
| Lowest Savings Rate (AER) | 4.67% | 3.65% |
| Maximum Savings Rate (AER) | 4.67% | 5.10% |
| Minimum Savings Amount | £1 | £20,000 |
| Interest Paid On Foreign Currencies | Yes | No |
Wise vs Allica Bank Account Opening Times
| Wise | Allica Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 2 Working days | 3 to 5 Working days |
| Do They Check Your Credit? | No | Yes |
| Current Account Switch Service | No | Yes |
Wise vs Allica Bank Features & Account Types
| Wise | Allica Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | No | Yes |
| Business Credit Card | No | No |
| Business Overdraft | No | Yes |
| Accounts For Startups | Yes | No |
| Accounts For Charities | Yes | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | No | No |
| Card Type | Visa/Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | None, online only | Milton Keynes, London and Manchester |
Wise vs Allica Bank Customer Support Options
| Wise | 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 |
Wise vs Allica Bank Foreign Currency Accounts
| Wise | Allica Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From Wise and Allica Bank
| Wise | Allica Bank | |
| Business Loans | No | Yes |
| Commercial Mortgages | No | Yes |
| Invoice Financing | No | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | No | No |
| Free Accounting Software | Yes | No |
Wise vs Allica Bank Banking Basics
| Wise | Allica Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | No, unless money is held in assets | Yes, up to £85,000 |
| FCA Number | 900507 | 821851 |
| Website | Wise Website | Allica Bank Website |
Common Comparison Questions
Does Wise or Allica Bank have better customer reviews?
Wise scores 4.2 out of 5 based 207,506 Trustpilot reviews. Of these reviews 83% are 5-star and 7% 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 Wise or Allica Bank have a better App?
Wise’s iPhone App is rated 4.8 out of 5 based on 85,400 reviews. And it’s Android App is rated 4.8 out of 5 based on 762,000 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 Wise or Allica Bank have better business savings rates?
Wise offers the following types of business savings accounts: BlackRock ICS Sterling Government Liquidity Fund with interest rates ranging from 4.67% to 4.67%. (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.