Merchant Machine

OakNorth VS HSBC Kinetic: Business Banking Review & Fee Comparison


By: Ian Wright | Last Updated:

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 Homepage
OakNorth Homepage

HSBC Kinetic Homepage
HSBC Kinetic Homepage
 

OakNorth vs HSBC Kinetic Trustpilot Reviews

OakNorthHSBC Kinetic
Trustpilot Review Score (out of 5)4.81.9
Percent 5-Star Reviews84%0%
Percent 1- Star Reviews3%100%
Total Number of Reviews8,90413
Sources:
https://www.trustpilot.com/review/oaknorth.co.uk
https://www.trustpilot.com/review/hsbckinetic.co.uk

OakNorth vs HSBC Kinetic App Reviews

OakNorthHSBC Kinetic
iPhone Review Score (out of 5)4.84.8
Number of iPhone Reviews1,60015,000
Android Review Score (out of 5)4.84.7
Number of Android Reviews4684,000
Sources:
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

OakNorthHSBC Kinetic
Free Business Bank AccountNoYes
Free Business Account Term LengthNA12 Months
Cheapest Monthly Account Fee£25£6.50
Most Expensive Monthly Account Fee£99.99£6.50
Electronic Payment Cost (in/out)FreeFree
Cash Payments Cost (in/out)70p per £1001.10%
Cheques (in/out)£1 per cheque50p per cheque
CHAPS Payments Cost£17£17
SEPA Payments CostNo24p

OakNorth vs HSBC Kinetic Business Savings Rates

OakNorthHSBC Kinetic
Types of Business Savings AccountsFixed Term, Notice Accounts, Easy AccessInstant access, 30+ day, 60+ day
Lowest Savings Rate (AER)3.85%1.94%
Maximum Savings Rate (AER)3.85%2.02%
Minimum Savings Amount£10,000No
Interest Paid On Foreign CurrenciesNoYes
 

OakNorth vs HSBC Kinetic Account Opening Times

OakNorthHSBC Kinetic
Can You Apply Online?YesYes
How Long Does Opening An
Account Typically Take?		Few minutes48 hours
Do They Check Your Credit?NoYes
Current Account Switch ServiceNoYes

OakNorth vs HSBC Kinetic Features & Account Types

OakNorth Account Types
OakNorth Features & Account Types

HSBC Kinetic Account Types
HSBC Kinetic Features & Account Types


OakNorthHSBC Kinetic
Business Current AccountYesYes
Business Savings AccountYesYes
Business Credit CardNoYes
Business OverdraftYesYes
Accounts For StartupsYesYes
Accounts For CharitiesYesNo
Accounts For Sole TradersYesYes
Joint Business Accounts AvailableYesNo
Card TypeMastercardVisa
Online BankingYesYes
Mobile BankingYesYes
In Person/Branch BankingNoNo
Branch LocationsNone, online and phone onlyCan use HSBC branches for some services

OakNorth vs HSBC Kinetic Customer Support Options

OakNorthHSBC Kinetic
Phone Support AvailableYesYes
Email Support AvailableYesYes
App Based Support YesYes
Web Based SupportYesYes
In person Customer SupportNoNo

OakNorth vs HSBC Kinetic Foreign Currency Accounts

OakNorthHSBC Kinetic
US Dollar (USD) Bank AccountsNoYes
Euro (EUR) Bank AccountsNoYes
Other Currencies Available:No
  • 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 OakNorth and HSBC Kinetic

OakNorth Account Types
Other OakNorth Services

HSBC Kinetic Account Types
Other HSBC Kinetic Services


OakNorthHSBC Kinetic
Business LoansYesYes
Commercial MortgagesYesNo
Invoice FinancingYesNo
International PaymentsYesYes
Merchant Payment ServicesYesYes
Card MachinesNoNo
Free Accounting SoftwareNoNo

OakNorth vs HSBC Kinetic Banking Basics

OakNorthHSBC Kinetic
Bank TypeChallengerHigh Street/Challenger
FSCS ProtectionYes, up to £85,000Yes, up to £85,000
FCA Number629564765112
WebsiteOakNorth WebsiteHSBC 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).

See Other Comparisons:
OakNorth vs CardOneMoney
OakNorth vs Fair Everywhere
OakNorth vs Countingup
OakNorth vs State Bank of India (UK)
OakNorth vs Charity Bank


For other business bank accounts see our guide here.