What is HSBC business banking?
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.
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 switched onto HSBC’s small business banking tariff.
Sole traders and limited companies can open a HSBC Kinetic account. This app-based business account does not charge 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*
*only available on certain accounts
HSBC business banking contact details
Existing customers: 03457 60 60 60
Online banking: 03456 022 014
HSBC business banking customer reviews
In our independent 2023 Customer Satisfaction Awards, HSBC was highly commended, with 4.5 out of 5 stars and 97.2% of users surveyed saying that they would recommend the bank’s business account offering. Its users highlighted the bank’s helpful customer service and easy to use banking app. Here’s what some of those HSBC business customers had to say in our survey:
“Reliable and very good customer service.”
“The bank and the card meet my needs.”
“Good service – never had any problems.”
On the Apple App Store, HSBC’s Business banking app scored 4.7 out of 5 stars based on around 31,700 reviews. On the Google Play Store, the app scored 3.7 out of 5 stars, from a total of just over 4,200 reviews (December 2023).
Pros and cons of HSBC business banking
- Range of business accounts on offer.
- Period of free banking when you open an account.
- Mobile, online, telephone and branch banking.
- Integration with accounting software on certain accounts.
- Overdrafts, business savings accounts and business loans available.
- Once any free banking period is over, a monthly charge is applied, which may not be the most competitive out there.
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 periods of free banking to startups and businesses which are opening an account. 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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