Is HSBC or Virgin Money better for your small business?
Below we look at both HSBC and Virgin Money 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 Virgin Money Trustpilot Reviews
| HSBC | Virgin Money | |
| Trustpilot Review Score (out of 5) | 1.5 | 1.4 |
| Percent 5-Star Reviews | 7% | 5% |
| Percent 1- Star Reviews | 88% | 89% |
| Total Number of Reviews | 8,399 | 6,799 |
https://www.trustpilot.com/review/www.hsbc.co.uk
https://www.trustpilot.com/review/uk.virginmoney.com
HSBC vs Virgin Money App Reviews
| HSBC | Virgin Money | |
| iPhone Review Score (out of 5) | 4.8 | 4.6 |
| Number of iPhone Reviews | 1,400,000 | 125,000 |
| Android Review Score (out of 5) | 4.8 | 4 |
| Number of Android Reviews | 260,000 | 23,400 |
https://apps.apple.com/gb/app/hsbc-uk-mobile-banking/id1220329065
https://apps.apple.com/gb/app/virgin-money-mobile-banking/id1482269155
HSBC vs Virgin Money Account Fees & Charges
| HSBC | Virgin Money | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | 25 Months |
| 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 | 90p per £100 |
| Cheques (in/out) | 50p per cheque | 30p per cheque |
| CHAPS Payments Cost | £17 | £25 |
| SEPA Payments Cost | 20p | £20 |
HSBC vs Virgin Money Business Savings Rates
| HSBC | Virgin Money | |
| Types of Business Savings Accounts | Business Money Manager, Business Money Market, Clients Deposit | Instant access accounts, Notice accounts, Fixed term deposit accounts |
| Lowest Savings Rate (AER) | 0.10% | 1.35% |
| Maximum Savings Rate (AER) | 2.02% | 5.15% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
HSBC vs Virgin Money Account Opening Times
| HSBC | Virgin Money | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 to 10 Working days | 1 to 47 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
HSBC vs Virgin Money Features & Account Types
| HSBC | Virgin Money | |
| 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 | Northern England and Scotland only |
HSBC vs Virgin Money Customer Support Options
| HSBC | Virgin Money | |
| 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 Virgin Money Foreign Currency Accounts
| HSBC | Virgin Money | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
| No |
Other Business Services From HSBC and Virgin Money
| HSBC | Virgin Money | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | No |
| Free Accounting Software | No | Yes |
HSBC vs Virgin Money Banking Basics
| HSBC | Virgin Money | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 765112 | 121873 |
| Website | HSBC Website | Virgin Money Website |
Common Comparison Questions
Does HSBC or Virgin Money 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, Virgin Money scores 1.4 out of 5 based 6,799 Trustpilot reviews. Of which 5% are 5-star and 89% are 1-star.
Does HSBC or Virgin Money 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, Virgin Money’s iPhone App is rated 4.6 out of 5 based on 125,000 reviews. And it’s Android App is rated 4 out of 5 based on 23,400 reviews.
Does HSBC or Virgin Money 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, Virgin Money offers Instant access accounts, Notice accounts, Fixed term deposit accounts accounts with interest rates ranging from 1.35% to 5.15% (AER).
See Other Comparisons:HSBC vs Monzo
HSBC vs Bank of Scotland
HSBC vs Metro Bank
HSBC vs TSB
HSBC vs Starling Bank
For other business bank accounts see our guide here.