Is Monzo or HSBC Kinetic better for your small business?
Below we look at both Monzo and HSBC Kinetic 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.
Monzo vs HSBC Kinetic Trustpilot Reviews
| Monzo | HSBC Kinetic | |
| Trustpilot Review Score (out of 5) | 3.9 | 1.9 |
| Percent 5-Star Reviews | 77% | 0% |
| Percent 1- Star Reviews | 14% | 100% |
| Total Number of Reviews | 30,333 | 13 |
https://www.trustpilot.com/review/www.monzo.com
https://www.trustpilot.com/review/hsbckinetic.co.uk
Monzo vs HSBC Kinetic App Reviews
| Monzo | HSBC Kinetic | |
| iPhone Review Score (out of 5) | 4.9 | 4.8 |
| Number of iPhone Reviews | 189,000 | 15,000 |
| Android Review Score (out of 5) | 4.7 | 4.7 |
| Number of Android Reviews | 125,000 | 4,000 |
https://apps.apple.com/gb/app/monzo-bank-mobile-banking/id1052238659
https://apps.apple.com/gb/app/hsbc-kinetic/id1457310350
Monzo vs HSBC Kinetic Account Fees & Charges
| Monzo | HSBC Kinetic | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | No Limit | 12 Months |
| Cheapest Monthly Account Fee | No | £6.50 |
| Most Expensive Monthly Account Fee | £5 | £6.50 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | £1 | 1.10% |
| Cheques (in/out) | Unknown | 50p per cheque |
| CHAPS Payments Cost | £20 | £17 |
| SEPA Payments Cost | No | 24p |
Monzo vs HSBC Kinetic Business Savings Rates
| Monzo | HSBC Kinetic | |
| Types of Business Savings Accounts | Instant Access Savings Pot | Instant access, 30+ day, 60+ day |
| Lowest Savings Rate (AER) | 1.60% | 1.94% |
| Maximum Savings Rate (AER) | 1.60% | 2.02% |
| Minimum Savings Amount | No | No |
| Interest Paid On Foreign Currencies | Yes | Yes |
Monzo vs HSBC Kinetic Account Opening Times
| Monzo | HSBC Kinetic | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 8 Working days | 48 hours |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Monzo vs HSBC Kinetic Features & Account Types
| Monzo | HSBC Kinetic | |
| 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 | No | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | No | No |
| Branch Locations | None, online only | Can use HSBC branches for some services |
Monzo vs HSBC Kinetic Customer Support Options
| Monzo | HSBC Kinetic | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | No | No |
Monzo vs HSBC Kinetic Foreign Currency Accounts
| Monzo | HSBC Kinetic | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
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Other Business Services From Monzo and HSBC Kinetic
| Monzo | HSBC Kinetic | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Monzo vs HSBC Kinetic Banking Basics
| Monzo | HSBC Kinetic | |
| Bank Type | Challenger | High Street/Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 730427 | 765112 |
| Website | Monzo Website | HSBC Kinetic Website |
Common Comparison Questions
Does Monzo or HSBC Kinetic have better customer reviews?
Monzo scores 3.9 out of 5 based 30,333 Trustpilot reviews. Of these reviews 77% are 5-star and 14% are 1-star.
Whereas, HSBC Kinetic scores 1.9 out of 5 based 13 Trustpilot reviews. Of which 0% are 5-star and 100% are 1-star.
Does Monzo or HSBC Kinetic have a better App?
Monzo’s iPhone App is rated 4.9 out of 5 based on 189,000 reviews. And it’s Android App is rated 4.7 out of 5 based on 125,000 reviews.
In comparison, HSBC Kinetic’s iPhone App is rated 4.8 out of 5 based on 15,000 reviews. And it’s Android App is rated 4.7 out of 5 based on 4,000 reviews.
Does Monzo or HSBC Kinetic have better business savings rates?
Monzo offers the following types of business savings accounts: Instant Access Savings Pot with interest rates ranging from 1.60% to 1.60%. (AER)
In contrast, HSBC Kinetic offers Instant access, 30+ day, 60+ day accounts with interest rates ranging from 1.94% to 2.02% (AER).
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For other business bank accounts see our guide here.