Is OakNorth or HSBC Kinetic better for your small business?
Below we look at both OakNorth 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.
OakNorth vs HSBC Kinetic Trustpilot Reviews
| OakNorth | HSBC Kinetic | |
| Trustpilot Review Score (out of 5) | 4.8 | 1.9 |
| Percent 5-Star Reviews | 84% | 0% |
| Percent 1- Star Reviews | 3% | 100% |
| Total Number of Reviews | 8,904 | 13 |
https://www.trustpilot.com/review/oaknorth.co.uk
https://www.trustpilot.com/review/hsbckinetic.co.uk
OakNorth vs HSBC Kinetic App Reviews
| OakNorth | HSBC Kinetic | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,600 | 15,000 |
| Android Review Score (out of 5) | 4.8 | 4.7 |
| Number of Android Reviews | 468 | 4,000 |
https://apps.apple.com/gb/app/oaknorth-savings/id1476387507
https://apps.apple.com/gb/app/hsbc-kinetic/id1457310350
OakNorth vs HSBC Kinetic Account Fees & Charges
| OakNorth | HSBC Kinetic | |
| Free Business Bank Account | No | Yes |
| Free Business Account Term Length | NA | 12 Months |
| Cheapest Monthly Account Fee | £25 | £6.50 |
| Most Expensive Monthly Account Fee | £99.99 | £6.50 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 70p per £100 | 1.10% |
| Cheques (in/out) | £1 per cheque | 50p per cheque |
| CHAPS Payments Cost | £17 | £17 |
| SEPA Payments Cost | No | 24p |
OakNorth vs HSBC Kinetic Business Savings Rates
| OakNorth | HSBC Kinetic | |
| Types of Business Savings Accounts | Fixed Term, Notice Accounts, Easy Access | Instant access, 30+ day, 60+ day |
| Lowest Savings Rate (AER) | 3.85% | 1.94% |
| Maximum Savings Rate (AER) | 3.85% | 2.02% |
| Minimum Savings Amount | £10,000 | No |
| Interest Paid On Foreign Currencies | No | Yes |
OakNorth vs HSBC Kinetic Account Opening Times
| OakNorth | HSBC Kinetic | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Few minutes | 48 hours |
| Do They Check Your Credit? | No | Yes |
| Current Account Switch Service | No | Yes |
OakNorth vs HSBC Kinetic Features & Account Types
| OakNorth | HSBC Kinetic | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | No | 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 | No |
| Card Type | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | No | No |
| Branch Locations | None, online and phone only | Can use HSBC branches for some services |
OakNorth vs HSBC Kinetic Customer Support Options
| OakNorth | 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 |
OakNorth vs HSBC Kinetic Foreign Currency Accounts
| OakNorth | HSBC Kinetic | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | No | Yes |
| Other Currencies Available: | No |
|
Other Business Services From OakNorth and HSBC Kinetic
| OakNorth | 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 | No | No |
| Free Accounting Software | No | No |
OakNorth vs HSBC Kinetic Banking Basics
| OakNorth | HSBC Kinetic | |
| Bank Type | Challenger | High Street/Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 629564 | 765112 |
| Website | OakNorth Website | HSBC Kinetic Website |
Common Comparison Questions
Does OakNorth or HSBC Kinetic have better customer reviews?
OakNorth scores 4.8 out of 5 based 8,904 Trustpilot reviews. Of these reviews 84% are 5-star and 3% 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 OakNorth or HSBC Kinetic have a better App?
OakNorth’s iPhone App is rated 4.8 out of 5 based on 1,600 reviews. And it’s Android App is rated 4.8 out of 5 based on 468 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 OakNorth or HSBC Kinetic have better business savings rates?
OakNorth offers the following types of business savings accounts: Fixed Term, Notice Accounts, Easy Access with interest rates ranging from 3.85% to 3.85%. (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.