Is Virgin Money or HSBC Kinetic better for your small business?
Below we look at both Virgin Money 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.
Virgin Money vs HSBC Kinetic Trustpilot Reviews
| Virgin Money | HSBC Kinetic | |
| Trustpilot Review Score (out of 5) | 1.4 | 1.9 |
| Percent 5-Star Reviews | 5% | 0% |
| Percent 1- Star Reviews | 89% | 100% |
| Total Number of Reviews | 6,799 | 13 |
https://www.trustpilot.com/review/uk.virginmoney.com
https://www.trustpilot.com/review/hsbckinetic.co.uk
Virgin Money vs HSBC Kinetic App Reviews
| Virgin Money | HSBC Kinetic | |
| iPhone Review Score (out of 5) | 4.6 | 4.8 |
| Number of iPhone Reviews | 125,000 | 15,000 |
| Android Review Score (out of 5) | 4 | 4.7 |
| Number of Android Reviews | 23,400 | 4,000 |
https://apps.apple.com/gb/app/virgin-money-mobile-banking/id1482269155
https://apps.apple.com/gb/app/hsbc-kinetic/id1457310350
Virgin Money vs HSBC Kinetic Account Fees & Charges
| Virgin Money | HSBC Kinetic | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 25 Months | 12 Months |
| Cheapest Monthly Account Fee | No | £6.50 |
| Most Expensive Monthly Account Fee | No | £6.50 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 90p per £100 | 1.10% |
| Cheques (in/out) | 30p per cheque | 50p per cheque |
| CHAPS Payments Cost | £25 | £17 |
| SEPA Payments Cost | £20 | 24p |
Virgin Money vs HSBC Kinetic Business Savings Rates
| Virgin Money | HSBC Kinetic | |
| Types of Business Savings Accounts | Instant access accounts, Notice accounts, Fixed term deposit accounts | Instant access, 30+ day, 60+ day |
| Lowest Savings Rate (AER) | 1.35% | 1.94% |
| Maximum Savings Rate (AER) | 5.15% | 2.02% |
| Minimum Savings Amount | £1 | No |
| Interest Paid On Foreign Currencies | Yes | Yes |
Virgin Money vs HSBC Kinetic Account Opening Times
| Virgin Money | HSBC Kinetic | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 47 Working days | 48 hours |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Virgin Money vs HSBC Kinetic Features & Account Types
| Virgin Money | 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 | 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 | Yes | No |
| Branch Locations | Northern England and Scotland only | Can use HSBC branches for some services |
Virgin Money vs HSBC Kinetic Customer Support Options
| Virgin Money | 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 | Yes | No |
Virgin Money vs HSBC Kinetic Foreign Currency Accounts
| Virgin Money | HSBC Kinetic | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Virgin Money and HSBC Kinetic
| Virgin Money | 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 | Yes | No |
Virgin Money vs HSBC Kinetic Banking Basics
| Virgin Money | HSBC Kinetic | |
| Bank Type | High Street | High Street/Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 121873 | 765112 |
| Website | Virgin Money Website | HSBC Kinetic Website |
Common Comparison Questions
Does Virgin Money or HSBC Kinetic have better customer reviews?
Virgin Money scores 1.4 out of 5 based 6,799 Trustpilot reviews. Of these reviews 5% are 5-star and 89% 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 Virgin Money or HSBC Kinetic have a better App?
Virgin Money’s iPhone App is rated 4.6 out of 5 based on 125,000 reviews. And it’s Android App is rated 4 out of 5 based on 23,400 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 Virgin Money or HSBC Kinetic have better business savings rates?
Virgin Money offers the following types of business savings accounts: Instant access accounts, Notice accounts, Fixed term deposit accounts with interest rates ranging from 1.35% to 5.15%. (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.