Lloyds Bank vs Revolut 2024

It's easy for current Lloyds Bank customers to open a Lloyds Bank Share Dealing investment account. But there are other platforms that are easier, more comprehensive and cheaper to use, including Halifax, which is also owned by Lloyds Banking Group.

Alongside the cost per trade, most UK online brokers also charge a monthly, quarterly, or annual management fee, which varies based on the account type and balance. Based on our thorough review, Lloyds Bank offers better pricing than Revolut for share dealing.

Assuming a £30,000 portfolio size, here are the total annual costs for share dealing with both brokers, given different monthly activity scenarios.

5 trades per year - Lloyds Bank would cost £95 per year, while Revolut would cost £0 per year.

12 trades per year - Lloyds Bank would cost £40 - £172 per year, while Revolut would cost £0 per year.

36 trades per year - Lloyds Bank would cost £40 - £328 per year, while Revolut would cost £47.88 per year.

120 trades per year - Lloyds Bank would cost £40 / £1,000 per year, while Revolut would cost £540 per year.

3 fund trades per year - Lloyds Bank would cost £0 per year, while Revolut would cost £0 - £540 per year.

Lloyds Bank requires a minimum deposit of £0, while Revolut requires a minimum deposit of £0 - £540. From our testing we found for accounts between £0 - £250,000 Lloyds Bank charges annual custody fees of £40, while Revolut charges annual custody fees of £0 - £45.

Lloyds Bank offers investors access to ISA, SIPP, Share Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts), Investment Trusts and Advisor Services, while Revolut offers investors access to Share Trading and Crypto Trading. Neither have CFD Trading and Spread Betting. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that Lloyds Bank offers traders access to SIPP and ISA accounts, while Revolut offers traders access to neither of these accounts.

In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that Revolut offers crypto investing, while Lloyds Bank does not.

Our testing concluded that the website of Lloyds Bank is better than the website of Revolut. Lloyds Bank offers more functionality, is cleanly designed, and is, overall, easier to use for beginners and casual investors.

To compare the trading platforms of both Lloyds Bank and Revolut, we tested each broker's stock trading app. All features compared, our analysis finds that Lloyds Bank offers a better mobile app. Dive deeper: Best Stock Trading Apps UK.

Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that unfortunately, neither Lloyds Bank nor Revolut offers educational resources. Neither have Education (Retirement).