Small Business Banking Account

Our HSBC Kinetic Current Account is the account for sole traders or single director single shareholder businesses. Download the app, apply in minutes and you could have a new business current account the same-day. Subject to eligibility and credit check. T&C’s and fees apply.

For all other types of businesses, please find out more about our Small Business Banking Account on this page, including our eligibility criteria.

Free banking for 12 months1
Access to secure digital banking including the ability to scan and deposit your cheques via the Business Banking Mobile app4
Overdraft available3
Access our Tomorrow Ready Hub to give you insights and resources.
Visa Commercial Card available - no annual fee for the first year.
Representative example: based on an assumed limit of £1,200, 15.9% rate p.a. for purchases, 22% APR representative variable. Annual Fee £32.2

1 Free banking means no account maintenance fee and free standard transactions on your primary account, any additional or secondary accounts will be charged in line with the Small Business Banking Account.

2 After the initial 12 month period, the annual fee for each Commercial Card is only £32. Commercial Cards are available for you and your employees (subject to status).

3 Arranged overdraft available subject to status and application.

4 Easily access a wide range of business services 24/7, subject to planned maintenance periods. You can deposit any number of cheques daily via the app up to a maximum of £2,500. Individually, none can exceed £500.

 


Effortless switching

  • We’ll contact your old bank to let them know you’re switching
  • We’ll transfer your balance and any automated payments for you
  • We’ll close your old account on the date you’ve chosen

Good to know
Any payments accidentally made to your old bank will automatically be redirected to your new account. We’ll also give your new details to people paying your old account. And if anything goes wrong, we’ll refund you for any interest or charges incurred.



Supporting your small business

Business Banking Mobile app

Bank on the go with our app
Run your business from the palm of your hand. Make payments, view balances and transactions, and manage Standing Orders and Direct Debits. Scan and instantly deposit cheques securely, and block or unblock your debit and credit cards to save you time. Device restrictions may apply.

 

 

 

Easy accounting

Seamless invoicing, tax and VAT
Sync your online business bank account with Sage

 

Visa Business Debit Card available

Manage your expenses
Business Debit Cards are available on request to you and your employees.

 

 

 

Visa Commercial Card available

Keep control of your day-to-day spending. Boost your cash flow and fully protect your transactions against fraud.

Commercial Cards are available for you and your employees (subject to status)

Business loans and overdrafts

Achieve your ambitions
We offer a range of lending options to help you grow your business**

 

 

 

Competitive international payments

International payments for over 60 currencies
Starting from just £4*

Simplify foreign exchanges
Open Euro, USD or other Foreign Current Accounts for £8 (or currency equivalent) a month

 

Small Business Banking Features

Features of your account

Bank 24/7 online

Mobile app

Virtual assistant

Live Chat

Text alerts

Telephone banking

 

Convenient access

Visa debit cards

Mobile cheque deposit

Cheque book on request

Bank in branch or in over
11,500 Post Offices®

 

Support

Specialist support

Tomorrow Ready Hub

Secure messaging

Digital exchanges

UK-based telephone support

 

Add-ons for flexibility as you grow

Credit & borrowing

Commercial card (subject to status and application)

Arranged overdraft (subject to
status and application)

Small Business Loans from £1,000
to £25,000 (subject to status and application)

 

International payments

International payments from £4*

Foreign Currency Accounts
for £8 (or currency equivalent) a month

 

View more Full Business Price List pdf

Rates and tariffs

First 12 months

Our introductory offer for start up and switchers

Monthly fee Free
Payments online (made via Business Internet Banking) Free
Debit card payment Free
Cash deposit in branch and Post Office® Free
Cheque deposit in branch and Post Office® Free

View more Business Price List

 

After 12 months

Move onto the Small Business Banking Tariff

Monthly fee £8
Payments online (made via Business Internet Banking) Free
Debit card payment Free
Cash deposit in branch or Post Office® 1.50% of value deposited
Mobile cheque deposit 50p per cheque

 

View more Business Price List


Open your Account


Small Business Banking Account

Apply online if your turnover is below £2m and your business does not wish to apply for more than £30,000 in borrowing facilities.



HSBC Kinetic Current Account

Our account for sole traders or sole director shareholder limited companies only.






Got questions?

Am I eligible?

If you’re a sole trader, or a limited company with a single director and shareholder the HSBC Kinetic Current Account is tailored for the needs of businesses like yours*. Find out more here and apply in minutes. The Small Business Banking Account is not available for these businesses. Other business types are eligible to apply for the Small Business Banking Account.

Small Business Banking customers are determined by customer needs, agreed at the start of their banking relationship with us. They’re typically small enterprises (including not-for-profits) with borrowing needs of up to £100,000. Their everyday transactional banking products and needs wouldn’t require the support of a Relationship Manager. (Government lending schemes are subject to different limits).

If your organisation operates as a not for profit, you may be eligible for our Charitable Bank Account.

If your organisation requires lending of above £100,000, visit our Business Banking Account page here.

*Supporting the needs of all our customers – if you need support opening a current account, you do not have a smart phone or digital account opening is not for you, contact us on 0800 731 8904 or visit a HSBC UK branch.  Also click here for more information on how we support our customers.

What support do I get as a Small Business Banking customer?

As a Small Business Banking customer, you have a variety of support channels including access to the following:

  • Business Internet Banking and Mobile Banking so you can manage your accounts wherever you are
  • The secure messaging feature within Business Internet Banking
  • 24/7 Need Help? Online assistants to help you with everyday queries
  • Our Live Chat function available to Business Internet Banking customers who can support with more detailed account enquiries
  • Over 11,500 Post Offices®, and HSBC UK branches up and down the country where you can deposit and withdraw cash and cheques
  • Our UK based Telephone Banking team if you need to discuss your banking with someone in detail
  • Our Tomorrow Ready Hub to give you access to insights and resources to help you hone your cash flow management skills and transform your business with digital. View our programme of business events where you can hear from topic experts and learn from the experiences of like-minded businesses. You can also view webinars and articles to help you understand the implications of new ways of working, build your business resilience and explore export opportunities.

How do I apply?

If your turnover is below £2m and your business does not wish to apply for more than £30,000 in borrowing facilities, the best way to apply for the Small Business Banking Account is online.

If your turnover is above £2m, your business does wish to apply for more than £30,000 in borrowing facilities or you’re unable to apply online, give our Business Account Opening team a call on 0800 731 8904 to discuss your needs further.

What details do I need to apply?

To apply you’ll need

Business details:

  • full business address, including postcode
  • contact details (landline number, mobile number, email address)
  • Companies House registration number (for limited companies and partnerships)
  • your estimated turnover

Personal details from you, plus any partners or directors:

  • full name and date of birth
  • telephone number and email address
  • current personal address (and previous address if you’ve been there under 3 years)
  • account number (if you already bank with us)
  • details of your debit/credit cards

After you submit your application, we will try to identify you online. If we're unable to identify you, we'll ask you to provide some proof of your identity and address. You can either do this ia a smartphone or webcam, or by taking the documents to your nearest branch.

How long will it take?

We’ll process your application as quickly as possible and we’ll contact you if we require further information.

What if I’m an existing personal customer?

Even if you’re an existing customer, we’ll need to run an application for your business account. For privacy reasons we can’t reuse the details from your personal account.

Can I check the progress of my application if I started it online?

Yes. Once your application has been saved, we send you an email with your application reference number. You’ll need it to log back in.

To see how your application is progressing, you can log in and resume your application.

Can I open an account with multiple signatories?

Yes. You need to be able to provide details of other applicants, such as additional directors and shareholders, as part of the application process.

To add another signatory after your account has been opened, please complete a secure online form: Request to Add or Remove Signatories from an Existing Mandate. After you’ve submitted your online form, you simply need to download and print a copy, follow the signing instructions and return the signed form via the freepost address provided.

What is the Switch Guarantee?

The Current Account Switch Service makes switching to HSBC easy. All you need to do to get started is open a Business Current Account. Then, you can depend on us to make the switch process simple and straightforward. Once you have opened the account, you decide when you want to start the switching process.

Who is eligible for the new Current Account Switch Service

  • Businesses with an annual turnover not exceeding £6.5m and employs fewer than fifty employees.
  • Charities with an annual income of less than £6.5m and trusts with a net asset value of less than £6.5m.

Once your account has been opened, switching to HSBC is simple and hassle free using the 'Full' Current Account Switch Service.



 

Any credits or debits sent to your old bank account will be redirected automatically to your new account, giving you plenty of time to make sure you're happy that everything is as it should be.

If you change your mind

You can cancel the switch service up to the seventh working day before your switch date. After that only certain elements can be cancelled and the closure of your old account cannot be stopped. We will guide you through what will happen if you choose to cancel.

If anything does go wrong, we guarantee to sort it out and cover any losses you might incur.

We’ll arrange everything for you, including transferring any credit balance and the closure of your old account, as well as transferring all your payments (such as any Direct Debits) to your new account with us. We’ll also set up a payment redirection for any credits or debits from your old account to your new one for at least 3 years.

That’s the Current Account Switch Guarantee.


Is switching accounts difficult?

We take care of everything. All you need to do is apply for a full switch.

On the application, you’ll need to tell us:

  • Your address history for the past 3 years
  • Business details, such as your current business banking details, your registration number, address and the date of incorporation if your business is a limited company
  • Your personal details
  • Details of financial arrangements, such as mortgages, loans and credit cards.

To identify you, we may ask you to provide proof of your identity and address.

How long will it take to switch?

It normally takes just 7 working days to complete the switch. During that period, you’ll be able to use your old account as normal.

How do I switch away from HSBC?

If you are switching out of HSBC UK into another UK based financial institution, we will send out a list of your Direct Debits and Standing Orders within 5 working days to your new bank. We will transfer out the balance and close the account on the switch date as confirmed by your new bank.

If your new bank or building society agrees, bank accounts that include an overdraft can switch using the Current Account Switch Service. And if you’d like to have an overdraft with your new bank account, speak to your new bank or building society before starting your switch. 

Your new bank or building society will be able to advise if you’re eligible for an overdraft, dependent on their lending criteria and your credit status.

Third Party Provider Permission

If you’ve given permissions to Third Party Providers to make payments on your behalf, or to access your financial data, this won’t be transferred automatically to your new account as part of the Current Account Switch Service.

1. Before you close your old account, check whether you have any of these permissions set up. If so, make a note of who with.
You can see the permissions you have via the Open Banking dashboard available in Online Banking or in your Mobile Banking app.

2. Once your new account is open, you can give your permission to the Third Party Provider to access it. You’ll need to contact them directly and provide your new account details.

3. If you’re unsure if your new bank will allow the Third Party Provider to access your account, you’ll need to discuss this before switching. You can also check your new bank’s terms and conditions for more information about Third Party Providers.



Why choose an HSBC Business account?

Best Bank for SMEs

We’re very proud that Euromoney named us the world’s best bank for SMEs in 2019.

Branches near you

The best business relationships are face-to-face. Come speak to us in person.

Telephone support

You can speak to our UK-based customer service representatives 365 days a year†


Guides, tools and insights

Market your new business

Marketing is about much more than just promoting your business. Use this checklist to start developing your marketing plan.

Writing a business plan

Whether you want to raise funding or to understand the best opportunities for your business, a business plan is essential.

Set up and maintain your books

Keeping accurate financial records is a legal requirement and are essential for understanding your business. Find out more with our guide to book-keeping.

Guides, tools and insights

Starting a business or expanding into new markets? Discover tools, tips and articles to help you reach your ambitions and fuel your growth.


*HSBC will convert currency at our quoted daily rate and for our international payment costs (send/receive) see the Business Price List (PDF)

**All loans and overdrafts are subject to status and application

† To help us continually improve our service and in the interests of security, we may monitor and/or record your telephone call. All personal data will be stored in line with our Privacy Notice



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