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 £100k. Their everyday transactional banking products and needs wouldn’t require the support of a Relationship Manager. (Government lending schemes are subject to different limits).
Details of our pricing and services
Notice of Variation: Effective from 1 November 2021
Notice of Variation for Small Business Banking and Business Banking customers (PDF, 603KB)
Current terms and conditions
FAQs
Following a review and recognising the ongoing investment in our proposition, we’ve decided to increase our banking fees to make sure we can continue to provide the best possible service to our customers. We’re committed to supporting UK businesses and our business banking offer remains competitive.
You can reduce some of your banking charges by using electronic payment methods such as card acceptance and online banking rather than cash, cheque and manual transactions. Find out more in our “Explore ways to bank with us” section.
You could also reduce your monthly account fee costs by limiting the number of Business Current Accounts and Foreign Currency accounts you operate.
Example charges below:
Withdrawing cash: You’d be charged £4.50 if you withdraw £200 in cash at a branch or Post Office®. This is comprised of a £1.50 charge for the withdrawal plus 1.5% (£3.00) of the £200 withdrawn. In comparison, it would cost £1.20 if you withdraw £200 cash from a cash machine (subject to cash machine charges).
Paying in cash: You’d be charged £4.50 if you paid in £200 in cash at a branch or Post Office®. This is comprised of a £1.50 charge for the credit slip plus 1.5% (£3.00) of the £200 credited. In comparison, it would be free for you to receive an automated credit such as a Bill Payment from a UK account.
Depositing a cheque: You’d be charged £2.00 if you deposit a cheque in at a branch or Post Office®. This is comprised of a £1.50 charge for the branch credit and a 50p cheque collection charge. If you deposit a cheque using the HSBC UK Business Banking app, you’d be charged a 50p cheque collection charge.
Making payments: If you make payments via cheque you’d be charged £1.00 per cheque paid, but an online bill payment made using Business Internet Banking would be free.
We’ll be migrating your account to the Small Business Banking Account with effect from 1 November 2021. The new charges will apply to your first charging period on or after 1 November 2021, giving you at least 2 months’ notice.
The monthly account fee reflects the cost of maintaining a Business Current Account. Over recent years we’ve made significant changes and enhancements to our business banking proposition to make sure we continue to meet the evolving needs of our customers.
By making digital and automated payments inclusive in our monthly fee we seek to encourage our customers (where possible) to switch to more efficient, secure and environmentally sustainable ways of making and receiving payments.
We continually review our business tariffs to make sure our products meet our customer needs and are sustainable in the longer term. These changes help to make sure we can continue to provide dedicated expertise and adapt to changing market conditions. We’re committed to supporting UK businesses and our business banking offer remains competitive.
We’ve recently introduced a mobile cheque deposit facility so you can scan and deposit cheques in the HSBC UK Business Banking app without needing to visit a branch and we won’t charge you for receiving a bill payment into your account. If you do still deposit cash and cheques, you can continue to use our HSBC UK branches or the Post Office®.
We last changed the monthly account fee for our Small Business Tariff and Electronic Banking Tariff in September 2019 .
Kinetic accounts are not impacted by any of these changes.
You don’t need to do anything. If any future changes may impact you, we’ll contact you separately to explain them.
We’ll be contacting a number of our customers to discuss the changes and the impacts to them. If we’ve advised in your email or letter that we’ll be contacting you, we’ll aim to get in touch before changes are implemented and we’ll attempt to contact your business 3 times. We’ll send you an SMS first so that you expect our call.
If your email or letter doesn’t suggest we’ll call you, but you have questions not answered in the following FAQ’s, you can use one of the methods below to get in touch with us:
- Visit HSBC Business Bank where our Need Help? assistant is available 24 hours a day, 7 days a week, and may be able to answer your query.
- Contact us via the secure message function within Business Internet Banking.
For other accessible ways to get in contact with us, please visit: business.hsbc.uk/accessibility.
Our Business Banking Account is available to Business Banking customers who are typically small and medium sized enterprises (including not-for-profits) with product needs that require support through a dedicated Relationship Manager, who work alongside our specialist teams. Our Relationship Managers can provide transactional banking and funding solutions of over £100k (both domestically and internationally).
If your business or organisation operates as a charitable not-for-profit entity and you meet the criteria outlined on our Charitable Bank Account page here, please get in touch with us to discuss your options. You can use one of the methods below to get in touch with us:
- Visit HSBC Business Bank where our Need Help? assistant is available 24 hours a day, 7 days a week, and may be able to answer your query.
- Contact us via the secure message function within Business Internet Banking.
For other accessible ways to get in contact with us, please visit: business.hsbc.uk/accessibility.
If you want to discuss these changes further you can use one of the methods below to get in touch with us:
- Visit HSBC Business Bank where our Need Help? assistant is available 24 hours a day, 7 days a week, and may be able to answer your query.
- Contact us via the secure message function within Business Internet Banking.
For other accessible ways to get in contact with us, please visit: business.hsbc.uk/accessibility.
As a Small Business Banking customer of HSBC, you have a choice of a variety of different support channels for your everyday banking queries including access to the following:
- Business Internet Banking and Mobile Banking so you can manage your accounts wherever you are
- 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
- The secure messaging feature within Business Internet Banking
If your query is related to the changes we’ve introduced and it’s not answered in these FAQ’s, you can use one of the methods below to get in touch with us:
- Visit HSBC Business Bank where our Need Help? assistant is available 24 hours a day, 7 days a week, and may be able to answer your query.
- Contact us via the secure message function within Business Internet Banking.
For other accessible ways to get in contact with us, please visit: business.hsbc.uk/accessibility.
If you no longer need your account and want to close it, you can access our account closure forms directly on our website by visiting business.hsbc.uk/business-account-closure. We won’t charge you for closing your account, although you’ll still have to pay any account charges you’ve already accrued before you closed your account(s).
The Small Business Banking Account will offer free electronic banking transactions such as direct debits, standing orders and bill payments. Cash and cheques will be charged in line with the table below and there will be a monthly account maintenance fee of £8.00 per account. By clicking here, you can find the full price list.
Service | Description | Pricing |
|---|---|---|
Account maintenance fee | A monthly charge for providing the business current account | £8.00 per month |
Branch or Post Office® credit | A charge for paying in cash and/or cheques at a branch counter, self-service machine or Post Office® | £1.50 per credit |
Cash In | A charge in addition to the branch credit for paying in cash at the branch counter, self-service machine or Post Office® | 1.50% of the cash value |
Cheques collected | A charge in addition to the branch credit for paying in cheques at the branch counter, self-service machine or Post Office® | £0.50 per cheque |
Mobile cheque deposit | A charge for depositing a cheque using our Business Banking app | £0.50 per cheque |
Bulk cash credit and cheques credit | A charge for cash credits or cheque credits to your account made using bulk services | £0.30 per credit |
Bulk cheques collected | A charge in addition to the bulk credits for the number of cheques paid in using bulk services via a courier directly to one of our processing centres | £0.25 per cheque |
Bulk cash paid in | A charge in addition to the bulk credit charge for the value of cash paid in using bulk services via a courier directly to one of our processing centres | 0.35% of the cash value |
Branch or Post Office® counter withdrawal | A charge for withdrawing cash over the branch counter or Post Office® | £1.50 per withdrawal |
Cash Out | A charge in addition to the branch counter withdrawal charge for the value of cash withdrawn over the branch counter or Post Office® | 1.50% of the value withdrawn |
Cash Machine Withdrawal | A charge for each withdrawal from a self-service machine (one charge per withdrawal) | £0.25 per withdrawal |
Cash Machine Cash Out | A charge in addition to the cash machine withdrawal charge for the value of cash withdrawn from a self-service machine | 0.60% of the value withdrawn |
Cheques paid | A charge for each cheque issued from your account | £1.00 per cheque |
Bulk withdrawal | A charge for withdrawing cash using bulk services via a courier directly from one of our processing centres | £0.50 per withdrawal |
Bulk cash out | A charge in additional to the bulk withdrawal charge for the value of the cash withdrawn using bulk services via a courier directly from one of our processing centres | 0.25% of the cash value |
We’re introducing new branch transaction charges for our Business Money Manager as it’s intended to be used as a savings account rather than for your day-to-day transactions. Transfers between your Business Current Account and your Business Money Manager will remain free of charge. By clicking here, you can find the full price list.
We're introducing transaction charges on our Clients Deposit Account, please refer to your Notice of Variation booklet for a full breakdown of these charges and other changes. By clicking here, you can also find the full price list.