Monzo VS HSBC Kinetic: Business Banking Review & Fee Comparison

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

Sources:
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

Sources:
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:	AED – United Arab Emirates dirham AUD – Australian dollar BGN – Bulgarian lev BRL – Brazilian real CAD – Canadian dollar CHF – Swiss franc CZK – Czech koruna DKK – Danish krone EUR – Euro GBP – British pound HRK – Croatian kuna HUF – Hungarian forint ILS – Israeli new shekel ISK – Icelandic króna JPY – Japanese yen KRW – South Korean won MXN – Mexican peso MYR – Malaysian ringgit NOK – Norwegian krone NZD – New Zealand dollar PLN – Polish zloty RON – Romanian leu RUB – Russian ruble SEK – Swedish krona SGD – Singapore dollar THB – Thai baht TRY – Turkish lira USD – United States dollar	Brazilian real (BRL) Canadian dollar (CAD) Chilean peso (CLP) Colombian peso (COP) Mexican peso (MXN) Chinese yuan (CNY) Hong Kong dollar (HKD) Indian rupee (INR) Japanese yen (JPY) Korean won (KRW) Malaysian ringgit (MYR) Singapore dollar (SGD) Thai baht (THB) Austrian euro (EUR) Belgian euro (EUR) Bulgarian lev (BGN) Croatian kuna (HRK) Czech koruna (CZK) Danish krone (DKK) Estonian euro (EUR) Finnish euro (EUR) French euro (EUR) German euro (EUR) Greek euro (EUR) Hungarian forint (HUF) Icelandic króna (ISK) Irish euro (EUR) Italian euro (EUR) Latvian euro (EUR) Lithuanian euro (EUR) Maltese euro (EUR) Dutch euro (EUR) Polish zloty (PLN) Portuguese euro (EUR) Romanian leu (RON) Slovak euro (EUR) Slovenian euro (EUR) Spanish euro (EUR) Australian dollar (AUD) New Zealand dollar (NZD)

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).

See Other Comparisons:
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Monzo vs Countingup
Monzo vs State Bank of India (UK)
Monzo vs Charity Bank


For other business bank accounts see our guide here.