HSBC - Kinetic Current Account
No monthly account fees for 12 months, thereafter a monthly charge of £6.50 applies.
This everyday business bank account from HSBC has no monthly maintenance fee for the first 12 months, making it ideal if you're only recently self-employed. The fee is £6.50 per month after this. You can apply for the account in minutes via the app and most accounts are opened within 48 hours. The account lets you manage direct debits, standing orders and future payments with ease. Customers can also apply for an overdraft of up to £30,000 in-app, get insights on their business spending with automatically categorised transactions, and keep track of their finances with a monthly breakdown of cash flow. You'll also be able to freeze your debit card if you misplace it, and unfreeze it again when found. Plus you can scan and deposit cheques in the app and make payments of up to £25,000 per day. Larger payments can be made via business telephone banking.
- Easy to apply for and manage
- Arranged overdraft
- Useful app features to help you track spending
- No monthly fee for 12 months
- Interest is charged on overdraft
- Monthly maintenance fee applies after first 12 months
- No interest paid on credit balances
| Account fee | £6.50 per month (waived in first 12 months) |
|---|---|
| Bank transfers | Free
|
| Accounting integrations | QuickBooks Sage Xero |
| Requires credit check | Soft search with no impact on credit score |
| Overdraft |
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