Is HSBC or Allica Bank better for your small business?
Below we look at both HSBC and Allica Bank reviews on Trustpilot along with their App reviews from Apple and Google.
We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.
HSBC vs Allica Bank Trustpilot Reviews
| HSBC | Allica Bank | |
| Trustpilot Review Score (out of 5) | 1.5 | 4.5 |
| Percent 5-Star Reviews | 7% | 76% |
| Percent 1- Star Reviews | 88% | 6% |
| Total Number of Reviews | 8,399 | 815 |
https://www.trustpilot.com/review/www.hsbc.co.uk
https://www.trustpilot.com/review/www.allica.bank
HSBC vs Allica Bank App Reviews
| HSBC | Allica Bank | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,400,000 | 503 |
| Android Review Score (out of 5) | 4.8 | 4.4 |
| Number of Android Reviews | 260,000 | 107 |
https://apps.apple.com/gb/app/hsbc-uk-mobile-banking/id1220329065
https://apps.apple.com/gb/app/allica-bank/id1489138340
HSBC vs Allica Bank Account Fees & Charges
| HSBC | Allica Bank | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £6.50 | No |
| Most Expensive Monthly Account Fee | £10 | No |
| Electronic Payment Cost (in/out) | 35p | Free |
| Cash Payments Cost (in/out) | £1.50 | Free |
| Cheques (in/out) | 50p per cheque | Unknown |
| CHAPS Payments Cost | £17 | £20 |
| SEPA Payments Cost | 20p | No |
HSBC vs Allica Bank Business Savings Rates
| HSBC | Allica Bank | |
| Types of Business Savings Accounts | Business Money Manager, Business Money Market, Clients Deposit | Easy Access, Notice Account |
| Lowest Savings Rate (AER) | 0.10% | 3.65% |
| Maximum Savings Rate (AER) | 2.02% | 5.10% |
| Minimum Savings Amount | £1 | £20,000 |
| Interest Paid On Foreign Currencies | Yes | No |
HSBC vs Allica Bank Account Opening Times
| HSBC | Allica Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 to 10 Working days | 3 to 5 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
HSBC vs Allica Bank Features & Account Types
| HSBC | Allica Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | No |
| Accounts For Charities | Yes | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Visa | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | UK-wide | Milton Keynes, London and Manchester |
HSBC vs Allica Bank Customer Support Options
| HSBC | Allica Bank | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | Yes |
HSBC vs Allica Bank Foreign Currency Accounts
| HSBC | Allica Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From HSBC and Allica Bank
| HSBC | Allica Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | No | No |
HSBC vs Allica Bank Banking Basics
| HSBC | Allica Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 765112 | 821851 |
| Website | HSBC Website | Allica Bank Website |
Common Comparison Questions
Does HSBC or Allica Bank have better customer reviews?
HSBC scores 1.5 out of 5 based 8,399 Trustpilot reviews. Of these reviews 7% are 5-star and 88% are 1-star.
Whereas, Allica Bank scores 4.5 out of 5 based 815 Trustpilot reviews. Of which 76% are 5-star and 6% are 1-star.
Does HSBC or Allica Bank have a better App?
HSBC’s iPhone App is rated 4.8 out of 5 based on 1,400,000 reviews. And it’s Android App is rated 4.8 out of 5 based on 260,000 reviews.
In comparison, Allica Bank’s iPhone App is rated 4.8 out of 5 based on 503 reviews. And it’s Android App is rated 4.4 out of 5 based on 107 reviews.
Does HSBC or Allica Bank have better business savings rates?
HSBC offers the following types of business savings accounts: Business Money Manager, Business Money Market, Clients Deposit with interest rates ranging from 0.10% to 2.02%. (AER)
In contrast, Allica Bank offers Easy Access, Notice Account accounts with interest rates ranging from 3.65% to 5.10% (AER).
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For other business bank accounts see our guide here.