Is HSBC or Tide better for your small business?
Below we look at both HSBC and Tide 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 Tide Trustpilot Reviews
| HSBC | Tide | |
| Trustpilot Review Score (out of 5) | 1.5 | 4.2 |
| Percent 5-Star Reviews | 7% | 73% |
| Percent 1- Star Reviews | 88% | 17% |
| Total Number of Reviews | 8,399 | 18,595 |
https://www.trustpilot.com/review/www.hsbc.co.uk
https://www.trustpilot.com/review/tide.co
HSBC vs Tide App Reviews
| HSBC | Tide | |
| iPhone Review Score (out of 5) | 4.8 | 4.7 |
| Number of iPhone Reviews | 1,400,000 | 64,800 |
| Android Review Score (out of 5) | 4.8 | 3.5 |
| Number of Android Reviews | 260,000 | 16,200 |
https://apps.apple.com/gb/app/hsbc-uk-mobile-banking/id1220329065
https://apps.apple.com/gb/app/tide-business-banking-app/id1140086177
HSBC vs Tide Account Fees & Charges
| HSBC | Tide | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | No Limit |
| Cheapest Monthly Account Fee | £6.50 | £9.99 |
| Most Expensive Monthly Account Fee | £10 | £49.99 |
| Electronic Payment Cost (in/out) | 35p | Free |
| Cash Payments Cost (in/out) | £1.50 | £1 |
| Cheques (in/out) | 50p per cheque | Free |
| CHAPS Payments Cost | £17 | No |
| SEPA Payments Cost | 20p | €0.70 |
HSBC vs Tide Business Savings Rates
| HSBC | Tide | |
| Types of Business Savings Accounts | Business Money Manager, Business Money Market, Clients Deposit | Business savings account |
| Lowest Savings Rate (AER) | 0.10% | 3.55% |
| Maximum Savings Rate (AER) | 2.02% | 3.55% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
HSBC vs Tide Account Opening Times
| HSBC | Tide | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 to 10 Working days | 10 to 2880 minutes |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
HSBC vs Tide Features & Account Types
| HSBC | Tide | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | No |
| 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 Tide Customer Support Options
| HSBC | Tide | |
| 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 Tide Foreign Currency Accounts
| HSBC | Tide | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | No |
| Other Currencies Available: |
| No |
Other Business Services From HSBC and Tide
| HSBC | Tide | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | Yes |
| Free Accounting Software | No | Yes |
HSBC vs Tide Banking Basics
| HSBC | Tide | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 via ClearBank |
| FCA Number | 765112 | 754568 |
| Website | HSBC Website | Tide Website |
Common Comparison Questions
Does HSBC or Tide 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, Tide scores 4.2 out of 5 based 18,595 Trustpilot reviews. Of which 73% are 5-star and 17% are 1-star.
Does HSBC or Tide 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, Tide’s iPhone App is rated 4.7 out of 5 based on 64,800 reviews. And it’s Android App is rated 3.5 out of 5 based on 16,200 reviews.
Does HSBC or Tide 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, Tide offers Business savings account accounts with interest rates ranging from 3.55% to 3.55% (AER).
See Other Comparisons:HSBC vs Virgin Money
HSBC vs Monzo
HSBC vs Bank of Scotland
HSBC vs Metro Bank
HSBC vs TSB
For other business bank accounts see our guide here.