Is NatWest or HSBC better for your small business?
Below we look at both NatWest and HSBC 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.
NatWest vs HSBC Trustpilot Reviews
| NatWest | HSBC | |
| Trustpilot Review Score (out of 5) | 1.4 | 1.5 |
| Percent 5-Star Reviews | 8% | 7% |
| Percent 1- Star Reviews | 86% | 88% |
| Total Number of Reviews | 5,984 | 8,399 |
https://www.trustpilot.com/review/www.natwest.com
https://www.trustpilot.com/review/www.hsbc.co.uk
NatWest vs HSBC App Reviews
| NatWest | HSBC | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 456,700 | 1,400,000 |
| Android Review Score (out of 5) | 4.4 | 4.8 |
| Number of Android Reviews | 349,000 | 260,000 |
https://apps.apple.com/gb/app/natwest-mobile-banking/id334855322
https://apps.apple.com/gb/app/hsbc-uk-mobile-banking/id1220329065
NatWest vs HSBC Account Fees & Charges
| NatWest | HSBC | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 24 Months | 12 Months |
| Cheapest Monthly Account Fee | Free | £6.50 |
| Most Expensive Monthly Account Fee | Free | £10 |
| Electronic Payment Cost (in/out) | 35p | 35p |
| Cash Payments Cost (in/out) | 70p per £100 | £1.50 |
| Cheques (in/out) | 70p per item | 50p per cheque |
| CHAPS Payments Cost | £20 | £17 |
| SEPA Payments Cost | 45p | 20p |
NatWest vs HSBC Business Savings Rates
| NatWest | HSBC | |
| Types of Business Savings Accounts | Instant access, notice and fixed-term savings accounts | Business Money Manager, Business Money Market, Clients Deposit |
| Lowest Savings Rate (AER) | 1.46% | 0.10% |
| Maximum Savings Rate (AER) | 4.25% | 2.02% |
| Minimum Savings Amount | No | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
NatWest vs HSBC Account Opening Times
| NatWest | HSBC | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 10 Working days | 7 to 10 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
NatWest vs HSBC Features & Account Types
| NatWest | HSBC | |
| 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 | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | UK-wide including the ability to use some RBS locations | UK-wide |
NatWest vs HSBC Customer Support Options
| NatWest | HSBC | |
| 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 |
NatWest vs HSBC Foreign Currency Accounts
| NatWest | HSBC | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
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Other Business Services From NatWest and HSBC
| NatWest | HSBC | |
| 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 | Yes | No |
NatWest vs HSBC Banking Basics
| NatWest | HSBC | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 121882 | 765112 |
| Website | NatWest Website | HSBC Website |
Common Comparison Questions
Does NatWest or HSBC have better customer reviews?
NatWest scores 1.4 out of 5 based 5,984 Trustpilot reviews. Of these reviews 8% are 5-star and 86% are 1-star.
Whereas, HSBC scores 1.5 out of 5 based 8,399 Trustpilot reviews. Of which 7% are 5-star and 88% are 1-star.
Does NatWest or HSBC have a better App?
NatWest’s iPhone App is rated 4.8 out of 5 based on 456,700 reviews. And it’s Android App is rated 4.4 out of 5 based on 349,000 reviews.
In comparison, 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.
Does NatWest or HSBC have better business savings rates?
NatWest offers the following types of business savings accounts: Instant access, notice and fixed-term savings accounts with interest rates ranging from 1.46% to 4.25%. (AER)
In contrast, HSBC offers Business Money Manager, Business Money Market, Clients Deposit accounts with interest rates ranging from 0.10% to 2.02% (AER).
See Other Comparisons:NatWest vs Santander
NatWest vs Nationwide
NatWest vs Lloyds Bank
NatWest vs Tide
NatWest vs Virgin Money
For other business bank accounts see our guide here.