Is HSBC or ICICI Bank UK better for your small business?
Below we look at both HSBC and ICICI Bank UK 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 ICICI Bank UK Trustpilot Reviews
| HSBC | ICICI Bank UK | |
| Trustpilot Review Score (out of 5) | 1.5 | 2.7 |
| Percent 5-Star Reviews | 7% | 18% |
| Percent 1- Star Reviews | 88% | 74% |
| Total Number of Reviews | 8,399 | 23 |
https://www.trustpilot.com/review/www.hsbc.co.uk
https://www.trustpilot.com/review/www.icicibank.co.uk
HSBC vs ICICI Bank UK App Reviews
| HSBC | ICICI Bank UK | |
| iPhone Review Score (out of 5) | 4.8 | 2.7 |
| Number of iPhone Reviews | 1,400,000 | 237 |
| Android Review Score (out of 5) | 4.8 | 4 |
| Number of Android Reviews | 260,000 | 684 |
https://apps.apple.com/gb/app/hsbc-uk-mobile-banking/id1220329065
https://apps.apple.com/gb/app/icici-bank-uk-imobile/id1223898732
HSBC vs ICICI Bank UK Account Fees & Charges
| HSBC | ICICI Bank UK | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £6.50 | £5 |
| Most Expensive Monthly Account Fee | £10 | £15 |
| Electronic Payment Cost (in/out) | 35p | 25p |
| Cash Payments Cost (in/out) | £1.50 | £5 per £1,000 / free |
| Cheques (in/out) | 50p per cheque | £1 |
| CHAPS Payments Cost | £17 | £20 |
| SEPA Payments Cost | 20p | No |
HSBC vs ICICI Bank UK Business Savings Rates
| HSBC | ICICI Bank UK | |
| Types of Business Savings Accounts | Business Money Manager, Business Money Market, Clients Deposit | Business Savings Account, Business Fixed Deposit |
| Lowest Savings Rate (AER) | 0.10% | 2.85% |
| Maximum Savings Rate (AER) | 2.02% | 4.50% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
HSBC vs ICICI Bank UK Account Opening Times
| HSBC | ICICI Bank UK | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 to 10 Working days | 2 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
HSBC vs ICICI Bank UK Features & Account Types
| HSBC | ICICI Bank UK | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Visa | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | UK-wide | London, Birmingham and Manchester |
HSBC vs ICICI Bank UK Customer Support Options
| HSBC | ICICI Bank UK | |
| 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 ICICI Bank UK Foreign Currency Accounts
| HSBC | ICICI Bank UK | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
|
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Other Business Services From HSBC and ICICI Bank UK
| HSBC | ICICI Bank UK | |
| 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 ICICI Bank UK Banking Basics
| HSBC | ICICI Bank UK | |
| Bank Type | High Street | Foreign Bank |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 765112 | 223268 |
| Website | HSBC Website | ICICI Bank UK Website |
Common Comparison Questions
Does HSBC or ICICI Bank UK 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, ICICI Bank UK scores 2.7 out of 5 based 23 Trustpilot reviews. Of which 18% are 5-star and 74% are 1-star.
Does HSBC or ICICI Bank UK 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, ICICI Bank UK’s iPhone App is rated 2.7 out of 5 based on 237 reviews. And it’s Android App is rated 4 out of 5 based on 684 reviews.
Does HSBC or ICICI Bank UK 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, ICICI Bank UK offers Business Savings Account, Business Fixed Deposit accounts with interest rates ranging from 2.85% to 4.50% (AER).
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For other business bank accounts see our guide here.