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HSBC Kinetic Business Account Review

As one of the UK’s biggest banks, HSBC has worked hard to ensure its business accounts offer competitive value for UK SMEs. See details of their kinetic product below where you can find out more information or apply online today.

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HSBC Kinetic Business Current Account

  • Monthly Fee
    Free*
    12 months free, £6.50 per month thereafter*
  • Card Purchases
    Free
    Non-Sterling Transaction fee – 2.99% of the
    sterling amount of the transaction, minimum
    £3. Cash Fee – 2.99% of the amount advanced,
    minimum £3.
  • Bank Transfers
    Free

    • Direct Debits & Internal Transfers: Free

    • CHAPS: £20 to another HSBC Group bank
      account, £30 to a non-HSBC Group bank
      account via by phone or in-branch banking.

  • Overdraft
  • Access
    App
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More Info
Product Features
  • No monthly account fee for the first 12 months, £6.50 thereafter. Other fees and charges apply, subject to eligibility, credit check and T&Cs
  • Cashflow and spending insights
  • Make payments of up to £25,000 per day in app
  • Access great perks and benefits to kick start your business
  • Send International Payments to over 150 countries
Eligibility Criteria
  • Must be a sole trader or a limited company with a sole director who is also the sole shareholder
  • Must be a tax resident in the UK but not the Channel Islands or the Isle of Man
  • Your turnover is up to £6.5m per year

HSBC Kinetic Business Banking Overview

HSBC Kinetic, a product of HSBC, is designed for small businesses and start-ups in the UK. It is a mobile banking app that caters specifically to sole traders or limited companies with a single director who is also the sole shareholder. This app is intended for businesses with varying annual turnovers.

The app offers several financial services such as overdrafts and small business loans. These services are accessible within the app itself, providing a streamlined process for users. In addition to these services, HSBC Kinetic also includes a credit card option within the app.

The user interface of HSBC Kinetic focuses on providing insights into business finances, such as cash flow and spending, categorized for user convenience. This feature is geared towards businesses that require immediate access to financial information. 

HSBC Kinetic is a part of HSBC’s initiatives in digital banking, integrating technology into its banking services. The app includes tools for financial management and is compatible with business finance software like Xero, QuickBooks, and Sage.

In terms of security, HSBC Kinetic uses the same security features as HSBC UK, aiming to protect client data and finances. It also complies with the Financial Services Compensation Scheme (FSCS) in the UK, ensuring protection of deposits within the specified limits.

Overall, HSBC Kinetic is a banking solution aimed at small businesses, offering services through a mobile platform that integrates various financial management tools.

HSBC Kinetic Business Accounts FAQs

  • What is HSBC Kinetic?

    HSBC Kinetic is a mobile business banking app designed for UK small business owners. It is particularly suited for sole traders or limited companies with a single director who is also the sole shareholder. The app provides various banking services such as overdrafts, loans, and credit cards, all accessible through the mobile interface.

  • Who is eligible for HSBC Kinetic?

    HSBC Kinetic is targeted at UK tax residents who are either sole traders or limited companies with a single director and shareholder. The service is available to businesses with an annual turnover of up to £6.5 million.

  • Does HSBC Kinetic offer overdrafts and loans?

    Yes, HSBC Kinetic offers overdrafts and small business loans. Customers can apply for overdrafts up to a certain limit, and the application process can be completed within the app. Small business loans are also available, with specified terms and conditions.

  • Can I integrate HSBC Kinetic with accounting software?

    HSBC Kinetic integrates with popular accounting software like Xero, QuickBooks, and Sage. This feature is designed to simplify financial management for small businesses.

  • How do I apply for an HSBC Kinetic account and how long does it take?

    The application for an HSBC Kinetic account is completed through the app. The process is streamlined for efficiency, and in most cases, accounts are opened within 48 hours. The applicant needs to have all required documents handy for verification purposes.

Services offered by this provider may change over time. Always check Ts&Cs.

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