Corporate bank account

The new 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 you are switching out of HSBC into another UK based financial institution, we will send out a list of your Direct Debits, 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 per communication received from 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 Open Banking Connections 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.