Is HSBC or TSB better for your small business?
Below we look at both HSBC and TSB 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 TSB Trustpilot Reviews
| HSBC | TSB | |
| Trustpilot Review Score (out of 5) | 1.5 | 4.2 |
| Percent 5-Star Reviews | 7% | 56% |
| Percent 1- Star Reviews | 88% | 27% |
| Total Number of Reviews | 8,399 | 21,942 |
https://www.trustpilot.com/review/www.hsbc.co.uk
https://www.trustpilot.com/review/tsb.co.uk
HSBC vs TSB App Reviews
| HSBC | TSB | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,400,000 | 457,400 |
| Android Review Score (out of 5) | 4.8 | 4.4 |
| Number of Android Reviews | 260,000 | 197,000 |
https://apps.apple.com/gb/app/hsbc-uk-mobile-banking/id1220329065
https://apps.apple.com/gb/app/tsb-mobile-banking/id1160720878
HSBC vs TSB Account Fees & Charges
| HSBC | TSB | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | 30 Months |
| Cheapest Monthly Account Fee | £6.50 | £5 |
| Most Expensive Monthly Account Fee | £10 | £40 |
| Electronic Payment Cost (in/out) | 35p | Free |
| Cash Payments Cost (in/out) | £1.50 | 70p per £100 |
| Cheques (in/out) | 50p per cheque | 70p |
| CHAPS Payments Cost | £17 | £30 |
| SEPA Payments Cost | 20p | £2 |
HSBC vs TSB Business Savings Rates
| HSBC | TSB | |
| Types of Business Savings Accounts | Business Money Manager, Business Money Market, Clients Deposit | Instant Access, Fixed Bonds |
| Lowest Savings Rate (AER) | 0.10% | 1.35% |
| Maximum Savings Rate (AER) | 2.02% | 4.30% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
HSBC vs TSB Account Opening Times
| HSBC | TSB | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 to 10 Working days | 10 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
HSBC vs TSB Features & Account Types
| HSBC | TSB | |
| 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 | No |
| 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 | UK-wide |
HSBC vs TSB Customer Support Options
| HSBC | TSB | |
| 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 TSB Foreign Currency Accounts
| HSBC | TSB | |
| 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 TSB
| HSBC | TSB | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | Yes |
| Free Accounting Software | No | No |
HSBC vs TSB Banking Basics
| HSBC | TSB | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 765112 | 191240 |
| Website | HSBC Website | TSB Website |
Common Comparison Questions
Does HSBC or TSB 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, TSB scores 4.2 out of 5 based 21,942 Trustpilot reviews. Of which 56% are 5-star and 27% are 1-star.
Does HSBC or TSB 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, TSB’s iPhone App is rated 4.8 out of 5 based on 457,400 reviews. And it’s Android App is rated 4.4 out of 5 based on 197,000 reviews.
Does HSBC or TSB 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, TSB offers Instant Access, Fixed Bonds accounts with interest rates ranging from 1.35% to 4.30% (AER).
See Other Comparisons:HSBC vs Starling Bank
HSBC vs Shawbrook Bank
HSBC vs RBS (Royal Bank of Scotland)
HSBC vs Wise
HSBC vs Revolut Business
For other business bank accounts see our guide here.