Switch your business account

First 12 months

Our introductory offer helps you find your feet

Following 12 months

£6.50 a month and free standard banking***

View more Business Price List

***Deposit up to £3,000 cash per month for free. 0.5% of the value deposited thereafter

After 24 months

Move onto your chosen tariff

Electronic Banking Tariff

(best if you mainly bank online or by phone)

Small Business Tariff

(best if you mainly handle cash or cheques)

View more Business Price List

To be eligible for the Switcher Account, your business should have an annual turnover of less than £10m.

To be eligible for the Current Account Switch Service you are a:

• Business with an annual turnover of less than £6.5m and you employ fewer than fifty employees.
• Charity with an annual income of less than £6.5m and trusts with a net asset value of less than £6.5m.

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.

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.

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.

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.

Whenever possibe we try to identify you online. If we can’t do that, we’ll ask you to provide some additional proof of your identity and address. You can either do this via a smartphone or webcam, or by taking your ID documents to your nearest branch.

You can apply online for a business account that gives access to multiple people.

The advantage of applying online is that you can save your application and finish it whenever it suits you.

If you prefer, you can apply over the phone on 0800 633 5610 (textphone 03457 125 563). Lines are open from 9am to 5pm, Monday to Friday.

You can also apply in your nearest branch. To book an appointment, please call 0800 731 8904 (textphone 03457 125 563). Lines are open from 9am to 5pm, Monday to Friday

If your turnover is £2m or less, you can apply online. 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 here.

If your turnover is between £2m and £10m, you will need to apply by phone and check for
updates by calling 03457 60 60 60.