HSBC business bank account comparison and review

HSBC offers a range of business banking options, including current and savings accounts, business credit cards and overdrafts.

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By

Tom Stelzer

&

Nick Renaud-Komiya

Edited by

Kate Steere

Reviewed by

Katherine Denham

Updated

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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.

What is HSBC business banking?

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:

  • Kinetic: an app-based account that’s best for sole traders or businesses with one director
  • Small Business Banking: as the name suggests, this is ideal for smaller companies
  • Business Banking: for small and medium sized companies, offering support from a relationship manager
  • Charitable: designed for not-for-profit organisations that have a charitable purpose
  • International Business: for companies that do business overseas and need support in areas such as importing or exporting
  • Currency Client: ideal if you hold money for clients in euros or US dollars
  • Corporate: for businesses that have an annual turnover of more than £15 million

How does HSBC business banking work?

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.

HSBC business banking features

  • Free Visa business debit card
  • Overdraft feature
  • Accounting software integration is available with certain accounts
  • See bank statements electronically
  • Deposit cheques through the app
  • Set up two or more users to approve payments online
  • Some accounts are free for the first year

HSBC business banking contact details

Existing customers: 03457 60 60 60

Online banking: 03456 022 014

HSBC business banking customer reviews

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 4.7 out of 5 stars based on around 31,800 reviews. On the Google Play Store, the app scored 3.4 out of 5 stars, from over 4,300 reviews (April 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. ”

– Katherine Denham, award-winning personal finance expert

Pros and cons of HSBC business banking

Pros

  • Range of business accounts on offer.
  • Free banking for the first year.
  • Mobile, online, telephone and branch banking.
  • Some accounts offer integration with accounting software.
  • Overdrafts, business savings accounts and business loans available.

Cons

  • Once any free banking period is over, a monthly charge is applied, which may not be the most competitive out there.
  • Other banks have higher scores when it comes to customer satisfaction.

Customer service information for HSBC

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Our verdict: Is a business account from HSBC worth it?

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.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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