Small Business Banking Support

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 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. This is comprised of a £1.50 charge for the withdrawal plus 1.5% (£3.00) of the £200 withdrawn.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. 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 payer.

Depositing a cheque: You’d be charged £2.00 if you deposit a cheque in at a branch. 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 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 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 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 branches.

We last changed the monthly account fee for our Small Business Tariff and Electronic Banking Tariff in September 2019.

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 call us on 03455 873 540 from the UK, Channel Islands or Isle of Man or 01470 697 553 if you’re calling from overseas. Please be prepared to go through security questions when calling us.

Our Business Banking Account is available to 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, please get in touch with us to discuss your options. You can call us on 03455 873 540 from the UK, Channel Islands or Isle of Man or 01470 697 553 if you’re calling from overseas. Please be prepared to go through security questions when calling us.

If you want to discuss these changes further you can call us on 03455 873 540 from the UK, Channel Islands or Isle of Man or 01470 697 553 if you’re calling from overseas. Please be prepared to go through security questions when calling us.

You can also contact us via the secure message function within Business Internet Banking.

For other accessible ways to get in contact with us, please visit: ciiom.hsbc.com/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
• HSBC branches 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, please call us on 03455 873 540 from the UK, Channel Islands or Isle of Man or 01470 697 553 if you’re calling from overseas. Please be prepared to go through security questions when calling us.

If you no longer need your account and want to close it, an account closure request, which must be signed by authorised signatories in accordance with your bank mandate, can be submitted to your local branch. 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.