HSBC business account: what it costs, and what changes in December
Two things to know before you apply. HSBC Kinetic, the account most comparison articles still recommend, is closed to new customers. And the account you would open instead, the Business Banking Account, has a price change landing on 14 December 2026 that makes branch cash more expensive and everything else cheaper. It is free for twelve months, then £10 a month, and unusually for the high street the digital payments stay free after that.
Kinetic is closed, whatever the comparison pages say
HSBC Kinetic was the app-first business account aimed at sole traders and small limited companies, and it is no longer available to new customers. It still appears in a surprising number of best-business-account round-ups, which is a good illustration of why the date on a comparison page matters more than its ranking. HSBC's current range is the Small Business Banking Account, which carries no monthly account fee, and the Business Banking Account below, aimed at businesses with borrowing needs above £100,000.
What the Business Banking Account costs
Free for twelve months on your first primary account, then the charges below. These come from HSBC's own published charges table, read on 7 August 2026.
| What you do | Charge now | From 14 Dec 2026 |
|---|---|---|
| Monthly account fee | £10 | £10 |
| Digital payment in or out | Free | Free |
| Debit card payment | Free | Free |
| Branch cash in or out | 1.5% of value | 2% of value |
| Counter credit or withdrawal | £1.50 each | Free |
| Cash machine withdrawal | 25p + 0.6% | Free |
| Cheque at a counter | £1.50 + 50p each | £1.50 + 50p each |
CHAPS, international payments, SEPA and mobile cheque payments sit outside the free digital transactions and are charged separately. The introductory year applies to your first primary account only, so a second account is charged from the start.
The December change, and who it hurts
HSBC is revising its Business Price List on 14 December 2026, and it cuts both ways. Two charges disappear: the £1.50 per counter credit or withdrawal, and the 25p plus 0.6% on cash machine withdrawals. One charge rises, and it is the one that matters most: branch cash goes from 1.5% to 2% of the value deposited or withdrawn.
On £2,000 of cash a month that is £30 today and £40 from December, so £120 a year more for the same banking. If you pay in small amounts often, losing the £1.50 per credit may leave you better off. If you pay in volume, the percentage is what counts and you will pay more. HSBC says existing customers will be contacted directly before 14 October 2026.
Where it sits against the rest of the high street
Take one business, run it through all four. A hundred digital payments a month and £2,000 of cash paid in at a counter, after every introductory offer has ended.
| Account | A month | Why |
|---|---|---|
| Zempler | £11 | No monthly fee, cash at 0.55% |
| Starling | £14 | No monthly fee, cash at 0.7% |
| Santander Classic | £22.49 | £9.99 fee, £1,000 cash free, then £1.25 per £100 |
| HSBC Business Banking | £40 | £10 fee, payments free, cash at 1.5% |
| HSBC from 14 Dec 2026 | £50 | Same, with cash at 2% |
| NatWest | £54 | No fee, but 35p a payment and 95p per £100 cash |
Change the shape and the order changes with it. A business making the same hundred payments but banking no cash pays £10 at HSBC and £35 at NatWest, because HSBC does not charge for digital payments and NatWest charges for every one. HSBC is the high-street account for businesses that transact a lot and handle little cash, which is the opposite of what most people assume about a branch bank.
Who should open it
Open it if you make a lot of digital payments, want a licensed bank with £120,000 of FSCS cover, and either need borrowing over £100,000 or value HSBC's international side. Free digital transactions after the introductory year is genuinely rare on the high street, and it is the reason to prefer HSBC to NatWest if your business is payment-heavy.
Look elsewhere if cash is central to how you get paid. At 1.5% rising to 2%, HSBC has the most expensive cash of the high-street accounts here, and roughly three times what Starling or Zempler charge. And if the £10 is the sticking point, the Small Business Banking Account has no monthly account fee and free UK digital banking, though its cash and cheque charges follow the same Business Price List.
Charges on this page were read from HSBC's published Business Banking Account charges table on7 August 2026, including the changes it has announced for 14 December 2026. Confirm current pricing with HSBC before applying.
Questions people actually ask
Can I still open an HSBC Kinetic account?
No. HSBC Kinetic is closed to new customers and no longer accepts applications, despite still appearing in plenty of comparison articles. HSBC's current range is the Small Business Banking Account, which has no monthly account fee, and the Business Banking Account, which is free for twelve months then £10 a month.
How much is an HSBC business account?
The Business Banking Account is free for the first twelve months, then £10 a month. Standard domestic digital payments stay free after that, which is unusual on the high street. Cash is where it costs: 1.5% of the value paid in or out at a branch, rising to 2% from 14 December 2026.
Are HSBC business account charges changing?
Yes, on 14 December 2026. Branch cash rises from 1.5% to 2% of the value deposited or withdrawn. In the other direction, the £1.50 per counter credit or withdrawal is being removed, and cash machine withdrawals go from 25p plus 0.6% to free. HSBC says existing customers will be contacted before 14 October 2026.
Are HSBC business payments free?
Standard domestic digital transactions made through Business Internet Banking are free, both during the introductory year and afterwards, as are debit card payments. CHAPS, international payments, SEPA and mobile cheque payments are excluded and charged separately. Cheques cost £1.50 per credit plus 50p per cheque at a counter, or 50p each through the app.
Is an HSBC business account FSCS protected?
Yes. HSBC UK is a licensed bank, so eligible deposits are protected up to £120,000 per person per institution by the FSCS. That is the same protection Starling, Monzo, Mettle and Zempler carry without charging a monthly fee.
Figures checked 7 August 2026 by S5 editorial against each provider's own published pricing. Confirm details with the provider before applying.