Overview
HSBC UK, at a glance.
HSBC UK is a bank headquartered in the United Kingdom, regulated by PRA and FCA. Business accounts cost from £0 a month. Opening an account takes 3–5 days.
HSBC UK Bank plc is a UK bank authorised by the Prudential Regulation Authority and regulated by the FCA and the PRA. Eligible deposits are protected by the Financial Services Compensation Scheme.
Why businesses pick HSBC UK
- A free Small Business Banking Account
- A large UK bank with FSCS protection and branches
- SEPA payments cost 24p; Global Wallet SWIFT payments £17
- International business accounts and foreign-currency accounts
- Open to companies, LLPs, partnerships and sole traders, including landlords
- Trustpilot score of 4.4 from almost 30,000 reviews
Watch out for
- The applicant must be a UK tax resident
- Subject to eligibility and credit checks
- CHAPS payments cost £17 online
- Exchange margin not published
- Accepted countries and prohibited industries are not published
Business fit
Will HSBC UK accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on HSBC UK's published rules
Needs review
HSBC UK works with Startups and SMEs, but does not publish the countries it accepts companies from.
HSBC UK does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What HSBC UK publishes about the businesses it takes on.
Who HSBC UK serves
- Startups and SMEs
- Import and export
- Professional services
- NGOs and charities
Not supported
Industries and countries HSBC UK does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use HSBC UK?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
GBP account
Foreign-currency and international business accounts available.
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Limited companies, LLPs and partnerships, Sole traders, including landlords, Charities (separate Charitable Bank Account)
Pricing
What does HSBC UK cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
£0–10
depends on plan
Small Business Banking Account
Lowest cost£0 per month
£0 setup · £0 in year one
Business Banking Account
£10 per month
£0 setup · £120 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| SEPA | £0.24 | Fixed fee |
| CHAPS (GBP) | £17 | Fixed fee · Online; £20 to £40 by phone, branch or post |
| SWIFT / international | £17 | Fixed fee · Global Wallet Pay SWIFT |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is HSBC UK a bank?
Yes. HSBC UK Bank plc is authorised by the Prudential Regulation Authority and regulated by the FCA and the PRA. Eligible deposits are protected by the FSCS. It is part of the HSBC group, which runs separately licensed banks in other countries.
How much does an HSBC UK business account cost?
The Small Business Banking Account has no monthly fee; the Business Banking Account costs £10 a month after any free-banking period. SEPA payments cost 24p, CHAPS £17 online and Global Wallet SWIFT payments £17.
Who can open an HSBC UK business account?
UK businesses whose applicant is a UK tax resident: limited companies, LLPs, partnerships and sole traders. Accounts are subject to eligibility and credit checks.
How fast is opening?
HSBC UK says that on average 65% of accounts are opened within 24 hours.
Alternatives
How HSBC UK compares.
If HSBC UK is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 HSBC UKThis pageBank |  | UKInternational payments |
| Starling BankBank | | Free accountDeposit protection |
 Monzo BusinessBank |  | Free planDeposit protection |
 Allica BankBank | | CashbackEstablished SMEs |
 TideE-money institution | | Free planNon-residents accepted |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.