Is HSBC or SumUp Business Account better for your small business?
Below we look at both HSBC and SumUp Business Account 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 SumUp Business Account Trustpilot Reviews
| HSBC | SumUp Business Account | |
| Trustpilot Review Score (out of 5) | 1.5 | 4.2 |
| Percent 5-Star Reviews | 7% | 64% |
| Percent 1- Star Reviews | 88% | 22% |
| Total Number of Reviews | 8,399 | 18,247 |
https://www.trustpilot.com/review/www.hsbc.co.uk
https://www.trustpilot.com/review/sumup.com
HSBC vs SumUp Business Account App Reviews
| HSBC | SumUp Business Account | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,400,000 | 12,400 |
| Android Review Score (out of 5) | 4.8 | 4.7 |
| Number of Android Reviews | 260,000 | 84,500 |
https://apps.apple.com/gb/app/hsbc-uk-mobile-banking/id1220329065
https://apps.apple.com/gb/app/sumup/id514879214
HSBC vs SumUp Business Account Account Fees & Charges
| HSBC | SumUp Business Account | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | No Limit |
| 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 | Free |
| CHAPS Payments Cost | £17 | No |
| SEPA Payments Cost | 20p | No |
HSBC vs SumUp Business Account Business Savings Rates
| HSBC | SumUp Business Account | |
| Types of Business Savings Accounts | Business Money Manager, Business Money Market, Clients Deposit | None |
| Lowest Savings Rate (AER) | 0.10% | NA |
| Maximum Savings Rate (AER) | 2.02% | NA |
| Minimum Savings Amount | £1 | NA |
| Interest Paid On Foreign Currencies | Yes | No |
HSBC vs SumUp Business Account Account Opening Times
| HSBC | SumUp Business Account | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 to 10 Working days | 10 minutes |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | No |
HSBC vs SumUp Business Account Features & Account Types
| HSBC | SumUp Business Account | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | No |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Visa | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | No |
| Branch Locations | UK-wide | None, online only |
HSBC vs SumUp Business Account Customer Support Options
| HSBC | SumUp Business Account | |
| 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 | No |
HSBC vs SumUp Business Account Foreign Currency Accounts
| HSBC | SumUp Business Account | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From HSBC and SumUp Business Account
| HSBC | SumUp Business Account | |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | Yes |
| Free Accounting Software | No | No |
HSBC vs SumUp Business Account Banking Basics
| HSBC | SumUp Business Account | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | No |
| FCA Number | 765112 | 900700 |
| Website | HSBC Website | SumUp Business Account Website |
Common Comparison Questions
Does HSBC or SumUp Business Account 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, SumUp Business Account scores 4.2 out of 5 based 18,247 Trustpilot reviews. Of which 64% are 5-star and 22% are 1-star.
Does HSBC or SumUp Business Account 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, SumUp Business Account’s iPhone App is rated 4.8 out of 5 based on 12,400 reviews. And it’s Android App is rated 4.7 out of 5 based on 84,500 reviews.
Does HSBC or SumUp Business Account 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, SumUp Business Account offers None accounts with interest rates ranging from NA to NA (AER).
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For other business bank accounts see our guide here.