Monese and Reliance Bank both offer a range of business banking options. But which is better?
Below we compare Monese vs Reliance Bank on 61 different metrics including business savings account rates, current account fees, Trustpilot reviews and many, many more so you can decide for yourself.
Monese vs Reliance Bank Business Savings Accounts Comparison
| Monese | Reliance Bank | |
| Types of Savings Accounts | NA | NA |
| Lowest Savings Rate | NA | NA |
| Maximum Savings Rate | NA | NA |
| Minimum Investment Amount | NA | NA |
| Website | Monese Website | Reliance Bank Website |
- Earn 2.25%-3.51% AER.
- Interest paid daily on both work and non-work days
- Add or withdraw money with zero restrictions 24/7
- Earn 3.55% AER (variable)
- Instant access to your money when needed
- No limits or fees on withdrawals
- Earn 3.66% – 4.51% AER.
- Offers a choice of easy access or fixed-term accounts.
- Average independent review score of 4.7 out of 5.
Monese vs Reliance Bank Free Business Bank Accounts
Below we look at the free business bank account options Monese and Reliance Bank each offer.
Monese | Reliance Bank | |
| Free Business Bank Account? | No | Yes |
| Free Business Account Term Length | NA | 6 months |
- Free version available forever
- Hold and exchange 25+ currencies
- IBANs for Global Transfers
- Ability to invest through your account
- Mobile business account, accessible online and on desktop 24/7
- No Monthly Fee
- 24/7 Online banking & Bank app
- Friendly UK phone support
- Xero, Quickbooks & Sage accounting software integration
- FSCS Protected up to £85k
- Basic account is free forever
- Up to £150,000 of credit, straight through the app
- Business Mastercard, with free purchases at home and abroad
- Trusted by 500,000+ UK businesses
- FSCS protected up to £85,000 via Clearbank
Monese vs Reliance Bank Fees & Pricing
Monese | Reliance Bank | |
| Cheapest Monthly Account Fee | £5.95 | £5 |
| Most Expensive Monthly Account Fee | £14.95 | £5 |
| Electronic Payments (in/out) | free | free |
| Cash Payments (in/out) | 0.035 | £1.50 |
| Cheques (in/out) | free | £1.50 |
| Debit Card Payments | Yes | Yes |
| CHAPS Payments | £2.50 | £15 |
| SEPA Payments | free | £0.25 |
Monese vs Reliance Bank Account Types
Below we look at the different types of business bank accounts and other types of business finance solutions Monese and Reliance Bank offer.
| Monese | Reliance Bank | |
| Current Account Switch Service | Yes | Yes |
| Type of Card (Mastercard vs VISA) | Mastercard | Mastercard |
| Business Current Account | Yes | Yes |
| Business Savings Account | No | Yes |
| Business Credit Card | No | No |
| Business Overdraft | No | Yes |
| Business Loans | No | Yes |
| Commercial Mortgages | No | Yes |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In person/Branch Banking | No | No |
| Invoice Financing | No | No |
| International Payments | Yes | Yes |
| Merchant Services | No | Yes |
| Free Accouting Software | No | No |
Monese vs Reliance Bank Foreign Currency Accounts
In this section we look at what types of foreign currency accounts each bank offers.
| Monese | Reliance Bank | |
| US Dollar (USD) Bank Account | Yes | Yes |
| Euro (EUR) Bank Account | Yes | Yes |
| Other Currencies Available | EUR (Euro), USD (United States Dollar), AUD (Australian Dollar), CAD (Canadian Dollar), CHF (Swiss Franc), DKK (Danish Krone), NOK (Norwegian Krone), SEK (Swedish Krona), | Australian Dollar (AUD), Canadian Dollar (CAD), New Zealand Dollar (NZD), Singapore Dollar (SGD), Swiss Franc (CHF), Japanese Yen (JPY), |
Monese vs Reliance Bank User Reviews
| Monese | Reliance Bank | |
| Trustpilot Score (out of 5) | 4.2 | 3.7 |
| Number of Trustpilot Reviews | 36438 | 1718 |
| iPhone App Score | 4.7 | 4.7 |
| Number iPhone of Reviews | 1.9K | 419 |
| Android App Score | 4.2 | 4 |
| Number of Android App Reviews | 97.7K | 132 |
Monese vs Reliance Bank Banking Service Quality
Data for this section comes from the BVA BDRC Business banking service quality report.
| Monese | Reliance Bank | |
| Overall Service Quality Ranking | Not Rated | Not Rated |
| Overall Service Quality Score | Not Rated | Not Rated |
| Online And Mobile Banking Services Ranking | Not Rated | Not Rated |
| Online And Mobile Banking Services Score | Not Rated | Not Rated |
| SME overdraft and loan services Ranking | Not Rated | Not Rated |
| SME overdraft and loan services Score | Not Rated | Not Rated |
| Relationship/account management Ranking | Not Rated | Not Rated |
| Relationship/account management Score | Not Rated | Not Rated |
| Service in branches and business centres Ranking | Not Rated | Not Rated |
| Service in branches and business centres Score | Not Rated | Not Rated |
Monese vs Reliance Bank Overview
Here is some other key data about each bank.
| Monese | Reliance Bank | |
| FSCS Protection | No | Yes, up to £85,000 |
| Market Share | 0.20% | No Data |
| Bank Type | Challenger | Challenger |
| Total Assets | £16825.357 billion GBP | Unknown |
| Swift/BIC Code | MNEEBEB2XXX | RELAGB22XXX |
| FCA Number | 913549 | 204537 |
| Company Number | 8720992 | 68835 |
| Business Customer Phone Number | 44 1706 304 001 | 020 7398 5400 |
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