Get £220 when you switch to an HSBC Bank Account
About HSBC business banking
HSBC offers a range of business banking accounts designed for various organisations, from sole traders to corporates. If you run a small enterprise that requires everyday transactional banking, you may be eligible for the Small Business Banking Account, which offers “free” banking for the first 12 months. After the fee free period, you’ll have to pay a monthly maintenance fee for your current account. Certain HSBC business accounts also have integrated accounting software. However, all HSBC business accounts allow users to deposit cheques through the app, set up two or more users to approve payments online and provide an overdraft feature. HSBC is fully regulated by the FCA and protected by the FSCS.
Pros and cons of HSBC business banking
Pros
- Range of business accounts on offer.
- Mobile, online, telephone and branch banking.
- Some accounts offer account software integration.
- Overdrafts available.
- Business loans and savings available.
Cons
- Monthly charge after the 12 months fee free banking period.
- Interest charged on overdraft.
- Competitors have higher customer satisfaction.
- No interest paid on credit balance.
Alternative offers
We also have other similar business switching offer deals where you can find other deal if you are looking to get or change your business account.
More guides on Finder
-
Chase Protect review: Is it worth it?
We review the pros and cons of the Chase Protect and discuss if the packaged add-on is worth upgrading to.
-
How many people use AI for personal finance advice?
We carried out some research to see how many people are using AI tools for personal finance – and what exactly they are using it for.
-
Lloyds Premier current account review
Looking to open a premium account with Lloyds? Here are the benefits and drawbacks of the account.
-
iFAST Global Bank review
We explore the multi-currency accounts from iFAST Global Bank.
-
What are the disadvantages of using a debit card abroad?
If you’re worried about the disadvantages of using your card abroad, this guide breaks down the pros and cons.
-
Best bank accounts that offer travel insurance
Could it pay to apply for a bank account that includes travel insurance?
-
Chase digital bank review: Free account with cashback
Chase’s current account offers cashback and boosted savings rates. Find out more about one of the UK’s newest digital banks.
-
Halifax Reward current account review: Is it worth it?
Discover what the Halifax Reward current account has to offer to see if it’s right for you.
-
Halifax Ultimate Reward current account review
If you’re happy to pay a monthly fee, discover what the Halifax Ultimate Reward current account has to offer.
-
Starling vs Monzo: Fees, features & more
Thinking about using Starling or Monzo? Compare both side by side using our table. We look at their costs, foreign transaction fees, card delivery speed and app features.