Is HSBC or Nationwide better for your small business?
Below we look at both HSBC and Nationwide 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 Nationwide Trustpilot Reviews
| HSBC | Nationwide | |
| Trustpilot Review Score (out of 5) | 1.5 | 1.7 |
| Percent 5-Star Reviews | 7% | 15% |
| Percent 1- Star Reviews | 88% | 75% |
| Total Number of Reviews | 8,399 | 5,509 |
https://www.trustpilot.com/review/www.hsbc.co.uk
https://www.trustpilot.com/review/www.nationwide.co.uk
HSBC vs Nationwide App Reviews
| HSBC | Nationwide | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,400,000 | 595,000 |
| Android Review Score (out of 5) | 4.8 | 4.5 |
| Number of Android Reviews | 260,000 | 106,000 |
https://apps.apple.com/gb/app/hsbc-uk-mobile-banking/id1220329065
https://apps.apple.com/gb/app/nationwide-mobile-banking/id542355130
HSBC vs Nationwide Account Fees & Charges
| HSBC | Nationwide | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £6.50 | £6.50 |
| Most Expensive Monthly Account Fee | £10 | £30 |
| Electronic Payment Cost (in/out) | 35p | Free |
| Cash Payments Cost (in/out) | £1.50 | 1% |
| Cheques (in/out) | 50p per cheque | £1.50 |
| CHAPS Payments Cost | £17 | £15 |
| SEPA Payments Cost | 20p | No |
HSBC vs Nationwide Business Savings Rates
| HSBC | Nationwide | |
| Types of Business Savings Accounts | Business Money Manager, Business Money Market, Clients Deposit | Instant access, Limited access, Fixed rate |
| Lowest Savings Rate (AER) | 0.10% | 2.25% |
| Maximum Savings Rate (AER) | 2.02% | 6.50% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
HSBC vs Nationwide Account Opening Times
| HSBC | Nationwide | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 to 10 Working days | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
HSBC vs Nationwide Features & Account Types
| HSBC | Nationwide | |
| 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 | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | UK-wide | UK-wide |
HSBC vs Nationwide Customer Support Options
| HSBC | Nationwide | |
| 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 Nationwide Foreign Currency Accounts
| HSBC | Nationwide | |
| 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 Nationwide
| HSBC | Nationwide | |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | No | No |
HSBC vs Nationwide Banking Basics
| HSBC | Nationwide | |
| Bank Type | High Street | Building Society |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 765112 | 106078 |
| Website | HSBC Website | Nationwide Website |
Common Comparison Questions
Does HSBC or Nationwide 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, Nationwide scores 1.7 out of 5 based 5,509 Trustpilot reviews. Of which 15% are 5-star and 75% are 1-star.
Does HSBC or Nationwide 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, Nationwide’s iPhone App is rated 4.8 out of 5 based on 595,000 reviews. And it’s Android App is rated 4.5 out of 5 based on 106,000 reviews.
Does HSBC or Nationwide 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, Nationwide offers Instant access, Limited access, Fixed rate accounts with interest rates ranging from 2.25% to 6.50% (AER).
See Other Comparisons:HSBC vs Lloyds Bank
HSBC vs Tide
HSBC vs Virgin Money
HSBC vs Monzo
HSBC vs Bank of Scotland
For other business bank accounts see our guide here.