If you’re on the hunt for a business bank account from a high street brand, HSBC offers accounts that are designed for a wide range of organisations, from sole traders to corporates. In the guide below, you’ll find out about the features of HSBC’s business bank accounts and our verdict on how they compare with other accounts.
As one of the UK’s “Big Four” banks, HSBC offers business banking for startups and new businesses, existing and larger businesses, as well as community organisations.
It provides everyday current accounts, as well as business savings accounts, credit cards, business loans and finance. Businesses can also switch their existing bank account over to HSBC.
Here’s a quick rundown of the range of HSBC business bank accounts:
HSBC offers business banking accounts to both large and small companies. If you run a small enterprise and require everyday transactional banking services, you may be eligible for the Small Business Banking Account, which offers “free” banking for the first 12 months.
If you open a small business bank account with HSBC, you’ll pay no account maintenance fees and receive free standard transactions on your primary account for the first year. After that you’ll be automatically switched onto HSBC’s small business banking tariff.
Happy to manage your business account entirely on an app? HSBC’s app-based Kinetic account is designed for both sole traders and small businesses. It also comes without a monthly account fee for the 12 months after the account is opened. Once the fee free period has ended, you’ll have to pay a monthly current account maintenance fee.
Existing customers: 03457 60 60 60
Online banking: 03456 022 014
In our independent 2024 customer satisfaction survey, 94% of HSBC business banking customers said they would recommend the brand to a friend. Customers highlighted the bank’s excellent customer serivice and competitive rates. However, some cited difficulties in using HSBC’s online banking.
On the Apple App Store, HSBC’s Business banking app scored 4.6 out of 5 stars based on around 31,900 reviews. On the Google Play Store, the app scored 3.4 out of 5 stars, from over 4,400 reviews (October 2024).
You’re spoilt for choice with HSBC business accounts, but before signing up to one, see how the bank compares with other companies when it comes to customer service. ”
Pros
Cons
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HSBC is a solid choice if you’re looking for a business account with one of the main high street banks. There is mobile, online, telephone and branch banking available to business customers, plus a handy integration with accountancy software packages such as Xero with the Small Business Banking Account.
HSBC has a variety of accounts available depending on your business size, plus it offers a period of fee-free banking. Once the free banking phase comes to an end there are account and transaction fees to pay, so if banking charges are an important consideration for your business you may want to compare business accounts elsewhere.
Get started by visiting HSBC’s website and sign up for an account. If you have read this review and decided that HSBC’s account is not for you, you can also compare other business bank accounts on the market.
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