If you’re opening a large business bank account, you’ll need to provide details of anyone owning 25% or more of the business⁷, For large business banking services: 03457 606060, or 0800 4346933 to arrange a meeting with a commercial manager³. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. Here are a few of the more popular options for UK businesses. 1:https://www.business.hsbc.uk/en-gb/everyday-banking/business-accounts/start-up-business-bank-account?DCSext.nav=tabordion Improve cash flow, cover expenses and plan for business growth with HSBC’s flexible finance and borrowing options. Minimise your business’ financial exposure with comprehensive business insurance solutions – from protecting valuable business assets to complying with regulatory requirements. The next site will open in a new browser window or tab. Instead they add a mark-up and charge you a hidden fee that way. (Please note: Due to the high volume of applications, we’re not able to effectively service Advance and Personal banking … The supported Foreign Currency Accounts will be opened automatically by the following working day. A new mobile first UK business bank account designed around you – the small business owner. Each business bank account type has different eligibility requirements. Effective 01 May 2020, HSBC Bermuda will reduce its Base Lending Rate for Business clients by 0.5% (from 4.75% to 4.25%). 3 After the Promotion Period, the interest rate for the HSBC Everyday Global Account … Here’s a handy guide to help you decide if a HSBC business bank account is right for you. Enjoy free access to over 70 Plaza Premium Lounges worldwide and other card privileges for making business travel more rewarding. Every bank is unique, but there are two documents each of them will ask for: 1. a valid passport/a national ID card 2. proof of address in your country of residence Let’s take a closer look at the banks and their requirements. 5.https://www.business.hsbc.uk/en-gb/everyday-banking/business-accounts/other-business-accounts/client-currency-account?DCSext.nav=tabordion You may be able to get help to switch to this account from another bank if you wish, and have several different choices about how to manage your account once it’s open. Related products. Here’s a quick rundown of the fees: Business bank accounts were not all created equal. Its smart technology skips hefty international transfer fees by connecting local bank accounts all around the world. ... subject to UK account opening requirements. Get faster access to payments and improve cash flows while also managing the risks associated with international trade more effectively. Please select the account opening/business account review documents checklist according to your company type: Special 100% Loan Guarantee under the SME Financing Guarantee Scheme, Financing under Export Documentary Collections. HSBC offer a couple of different account options which may work for your business if you trade in a currency other than sterling. AIB offers three types of business current accounts. Open a business bank account in 3 easy steps: Contact us by submitting the Business Account Enquiry form online. You may even be … Invest in a mix of securities, bonds, currencies and commodities in markets around the world with Unit Trusts. The fees charged by HSBC for your business bank account will vary depending on a number of different factors. You already have an account there, they have all your information, so it just seems easier. Most banks won’t convert your money with the mid-market exchange rate when you make an international payment. Read this article to find out how to open a business account with Metrobank. We’ve made banking simpler, faster and more intuitive to give you the freedom to do what you do best – run your business. A foreign currency account can be opened in any major world currency, and you might earn interest on the money held in the account, depending on the currency you choose. If your business is larger - with a turnover exceeding £2 million a year, the Large Business Organisation Bank Account might be a better choice. Details about the requirements of certain banks to open a business bank account in the United Kingdom: Lloyds Bank. The Bank of Scotland is a commercial bank based in Edinburgh, Scotland. 9.https://www.business.hsbc.uk/en-gb/everyday-banking/business-accounts/start-up-business-bank-account?DCSext.nav=tabordion#jump-to-accordion-panel-accordion-tab-accordion-section-2. And there’s more to come in the future. Whether you are at home, in the office, or in other locations, our digital services mean we are always here and available through Online Banking, the HSBC Mobile Banking app, or with Phone Banking. TransferWise is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 900507, for the issuing of electronic money. Save time and money with HSBC’s foreign exchange services. Accounts are offered for day to day banking, and also for fixed term deposits if you wish to leave a sum of money for a period, and don’t need to make any withdrawals.⁴. Extended Term Insurance Refund Arrangement, Helping not-for-profit organisations to fight financial crime (PDF, 2.79MB), Managing your bank account smartly (10 languages available), Foreign Account Tax Compliance Act (FATCA), Sole Proprietorship establish in Hong Kong (For all types of business account application except HSBC Sprint Account) (PDF, 249KB), Sole Proprietorship established in Hong Kong (For HSBC Sprint Account Application only) (PDF, 239KB), Sole Proprietorship established Overseas (PDF, 252KB), Limited Company listed on Stock Exchange (PDF, 243KB), Limited Company and General Partnership established in Hong Kong (For all types of business account application except HSBC Sprint Account) (PDF, 391KB), Limited Company and General Partnership established in Hong Kong (For HSBC Sprint Account Application only) (PDF, 287KB), Limited Company and General Partnership established Overseas (PDF, 278KB), © Copyright. Some countries/regions require you to be an existing HSBC customer so you may first need to open an account within your home country. You may need to provide valid proof of residency, visa and identification documents. To open a Start Up business account with HSBC, you can complete the application form online, call to talk to customer services, or visit a branch. It’s a smart idea to compare the rate given to the mid-market exchange rate, which is the one banks use when buying currency, and the one you’ll find on Google. To talk to a specialist member of staff, you can call the following numbers: If you’re interested in learning more about a secure, cheap and convenient international payment and account services alternative - consider TransferWise for Business. When you’re choosing the right account for your business, it’s crucial to look at the full list of features and fees, and consider what services you might need now, and in the future. Check out the fees and benefits of a borderless account, here. Which means you can save up to 8x by using TransferWise rather than your bank when you send your money abroad. Some banks and exchange services choose instead to add a markup to the rate they use, to increase their profit. You will lose any information you have entered. Our services are aimed at making banking easier for you, so you can focus on your business. TransferWise also has a lot of additional features for business users. There are lots of options when you want to open a business bank account. You will then be asked. For inquiries or complaints, please call HSBC's Customer Service at (02) 8858-0000 from Metro Manila, +1-800-1-888-8555 PLDT domestic toll-free, (02)7976-8000 from overseas, (International Access Code) + 800-100-85-800 international toll-free for selected countries/regions, or send an email to hsbc@hsbc.com.ph.If you want to find out more about HSBC… One service which always uses the mid-market exchange rate is TransferWise. Doing some research in advance can pay big dividends, as the functionality and costs of different accounts can vary widely. Sole trader, start-up founder, or planning on launching your new business soon? Simplify retirement planning with our pensions services teams and let us guide you through the process. Minimise the risk of doing business internationally and get better rates online with HSBC’s wide range of foreign exchange services. HSBC offer a range of products for UK business customers. Enjoy real-time foreign exchange rates via Business Internet Banking and HSBCnet. In order to open a business bank account with Lloyds, it will be … This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. Our banking services are always within your reach. Streamline day-to-day finance with HSBC’s business integrated accounts, deposit and investment solutions, foreign exchange services, commercial cards and multichannel support. Get access to working capital and provide suppliers payment assurances to keep sales and supply chains moving smoothly. Are you planning on moving to the UK and want to open a bank account? All rights reserved. 7.https://www.business.hsbc.uk/en-gb/everyday-banking/business-accounts/business-current-account-for-larger-organisations?DCSext.nav=tabordion Please be aware that other site policies will differ from our website terms and conditions and privacy policy. 4.https://www.business.hsbc.uk/en-gb/everyday-banking/business-accounts/other-business-accounts/foreign-currency-account Maximise working capital and improve cash flows with a wide range of financing, import and export financing, and commercial card solutions. In the event of the Bank being unable to recover service charges due to non-maintenance of adequate balance in the designated/linked bank account or non-payment of outstanding charges (in case a linked account is not held with the Bank) within 30 days of its due date, the Bank … Sources used: Here are some example costs to consider⁸: One thing to look at, if you need international payment services for your business, is the exchange rate used for currency conversion. Safeguard your business and your legacy with life protection insurances that can also be used as valuable employee benefits. If you’re a Premier customer looking to open an HSBC checking account in Hong Kong to receive HKSAR Cash Payout in response to COVID-19, visit your nearest branch or call the International Banking Center at 877.850.4722. 2: https://www.business.hsbc.uk/ You must be over the age of 18 years old. is a member of the HSBC Group of affiliates. If you’re looking to open, or transfer an existing larger business account to HSBC you will need to talk to a relationship manager to get advice about the products available to you, and how to process your application. This account type is designed for businesses with a turnover above £2 million a year³. HSBC Bank USA, N.A. For more information on HSBC foreign currency accounts, you can check out this HSBC business currency account guide. What’s more, you can protect your employees’ health by providing extensive and seamless medical benefits with our Group 100 Plus Medical Plan. The HSBC Start Up Business bank account allows you to access fee-free banking for up to 18 months, before switching to a plan which charges a monthly fee for your banking needs.¹ You can access loans and advice to help start and grow your business, including information on how to trade internationally. HSBC Bank offer a few different account options suited to business owners. 3.https://www.business.hsbc.uk/en-gb/everyday-banking/business-accounts/business-current-account-for-larger-organisations?DCSext.nav=tabordion Each of these accounts is specifically tailored to a segment of the market. Current Account . This account comes with a debit card, and access to online and mobile banking, as well as in branch banking services.². HSBC will use their daily exchange rate for any currency conversion you ask them to carry out, and will inform you of the rate before the payment is confirmed. 8.https://www.business.hsbc.uk/-/media/library/business-uk/pdfs/business-banking-price-list.pdf Conduct business with confidence, even where you lack established relationships. Simplify management of business finances with HSBC’s integrated account solutions. HSBC Corporate … There’s a range of products available, including accounts for brand new businesses, and services designed for companies which are already established with a turnover of up to £2 million.¹. Switch to HSBC and get up to AED 5,000 * cashback:. Streamline day-to-day finance with HSBC’s business integrated accounts, deposit and investment solutions, foreign exchange services, commercial cards and … Now open … 6.https://www.business.hsbc.uk/en-gb/everyday-banking/business-accounts/start-up-business-bank-account?DCSext.nav=tabordion The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Trade directly with organisations that have a good financial status and that also recognise your business’ good financial standing using HSBC’s open account solutions. If you’re setting up your own business, or are a business owner already, you might be interested in commercial banking services from HSBC. Are you sure you want to close the window? To withdraw money from revolut, simply tap the Payments tab in the Revolut app, then click Transfer, followed by Add bank account. Leverage HSBC’s trade network and range of import and export solutions to do business around the world safely and securely. When you have to pay employees or suppliers overseas it might seem logical to do this with your bank. The … HSBCnet services provided in the United States by HSBC Bank … Whether you are at home, in the office, or in other locations, our digital services mean we are always here and available through Online Banking, the HSBC Mobile Banking app, or with Phone Banking. We will get in touch with you shortly to understand your business requirements. There are also different tariffs for existing customers, depending on the exact services you choose, so it’s worth looking carefully at the pricing details to make sure you select the right package for your business. New HSBC Expat customers must be 18 years or over and meet one of these criteria: hold a minimum of £50,000 (or currency equivalent) with us have a sole salary of £100,000 (or … Follow HSBC UK on Facebook This link will open … They offer a wide... Santander’s fee varies on the type of account. You can send and receive payments using TransferWise, with the mid-market exchange rate, and for just a low transparent fee. mid-market exchange rate, and for just a low transparent fee, the fees and benefits of a borderless account, How to Withdraw Money from Revolut Business Account, AIB Business Banking: Everything you need to know, Bank of Scotland Business Online: Everything you need to know, Santander Business Account: Cost, Convenience and Security, Best business bank accounts: What to consider, Opening a Metrobank business account: everything you need to know, Proof of identity - this can be a current passport or photo ID such as a driving license, or a national identity card, Proof of your address - a current bank or building society statement, utility bill or council tax bill which shows your full name and registered address, The address of your business, including contact details and Companies House registration number if relevant, The turnover, or estimated turnover of your business, and the amount invested in it⁶, Information about yourself and any other director or partner in the business, such as your full names, and birth dates, contact details, and details of your existing HSBC bank accounts if you’re already a customer. Certain products and services may not be offered by the local HSBC affiliate in every country. In each case you’ll be asked to provide some documents to get your account up and running, including the following: To get a specialist account such as a Client Currency Account, you will also need to provide further details such as your FCA registration and information about the type of work you do.⁵. If you’re between 7-17 years-old you may be able to apply for a children’s bank account.. To open a current account … Whether you are a new or existing customer, find out how to open a UK account here. Business Close menu. Another way is to open a business account in a large and reputable British bank such as Barclays, Lloyds, or HSBC. For inquiries or complaints, please call HSBC's Customer Service at (02) 8858-0000 from Metro Manila, +1-800-1-888-8555 PLDT domestic toll-free, (02)7976-8000 from overseas, (International Access Code) + 800-100-85-800 international toll-free for selected countries/regions, or send an email to hsbc@hsbc.com.ph.If you want to find out more about HSBC… You can also get a client currency account if your business holds funds for clients - if you’re a real estate agent, or an FCA (Financial Conduct Authority) regulated credit association, for example. This can make your international transfers more expensive than you expect. Safeguard your business with HSBC’s insurance and investment solutions to minimise risk exposure and capture growth potential of liquidity. receive up to AED 2,000 ** when you switch to a Jade, Premier or Advance Account; get up to an additional AED 3,000 *** when … The Hongkong and Shanghai Banking Corporation Limited 2002-2021. Customers holding multiple accounts with the Bank and maintaining separate account operating mandates, the eligibility criteria has to be maintained separately. This Page is a mere attempt to analyze and understand the procedure to open a corporate bank account in Singapore, documents required to do so and the range of banking … You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. Compare HSBC business bank account fees with other high street banks with our business bank accounts comparison. Getting the right banking option for your organisation is essential, to make sure you’re not paying more than you need to, and allow you to focus on running your business. TransferWise is different. Documents required vary for different business types, for details please refer to our Account Opening Document Checklist. New customers may get a fixed term fee-free banking period, which is then followed by a further option of a reduced fee product, before switching to the regular prices. It is not intended to amount to advice on which you should rely. Safeguard your supply and sales chain by minimising the risk of bad debt and loss of goods in transit. Account Opening Offer. For buyers and suppliers trading on open account terms, HSBC offers a range of safe, secure import and export finance options. The Bank shall be entitled to collect the Customer’s data and provide to HSBC Group member companies and foreign competent authorities for the purpose of ensuring financial crime risk management activity, tax compliance obligations as well as to satisfy requirements … Most UK banks require you to be 18 or over, although some will accept applications from people aged 16 and over. To qualify for the HSBC Premier $450 Welcome Deposit you must: (1) open your new HSBC Premier checking account from January 8, 2021 through and including March 31, 2021; and (2) make recurring monthly Qualifying Direct Deposits totaling at least $5,000 from a third party to your HSBC … You can rely on HSBC … The Start Up Business Bank Account is typically available to people who are planning to launch a business, or who have a company … Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. ... You are leaving the HSBC Commercial Banking … If you join this waitlist we will email you when applications for new accounts are open again. Access and manage your trade requirements – whenever and wherever you need to ... Due to unprecedented demand we have opened a waitlist for new small business customers wishing to open a new account with HSBC. Note: Opening of a corporate bank account in Singapore is easy and effortless provided the documentation requirements are appropriately met. You can connect with Xero to make your life easier, upload a batch of payments in one go or even automate your payments by integrating with our API. Maximise returns from surplus funds with time deposit accounts and capitalise on market opportunities by trading securities online. The next site will open in a new browser window or tab. Earn regular interest income and preserve capital with Certificates of Deposit (CDs) and bonds available in a variety of currencies. The $50 monthly maintenance fee is waived if minimum balance requirements are met: To qualify for an HSBC Premier relationship, you need to open an HSBC Premier checking account and maintain balances of $75,000 in combined U.S. Dollar personal deposit accounts and investment balances OR; Recurring direct deposits totaling at least $5,000 from a third party to an HSBC Premier checking account… Access HSBC’s expertise with our extensive suite of banking solutions including specialty banking centres, internet banking, phone and self-service banking. 1 For HSBC Premier or HSBC Advance customers only.. 2 Protected by Perbadanan Insurans Deposit Malaysia up to RM250,000 for each depositor. Make payments anywhere around the world quickly, easily and securely with HSBC’s international and domestic payment and commercial card solutions. Get up to HKD750 in cash rewards when you successfully open an integrated account via the HSBC HK Mobile Banking app and maintain at least HKD50,000 in your account … ... Request a call back Request a call back for an HSBC Escrow Account This link will open in a new window. Make payments at home and around the world with a range of convenient domestic, cross-border and Asia Pacific specific options. ... our mobile-first business bank account. Decide which option works for your business, by considering features of accounts. The Start Up Business Bank Account is typically available to people who are planning to launch a business, or who have a company with an actual or estimated turnover of under £2 million annually. Our banking services are always within your reach. However, this rate isn’t always passed on to customers. Everyday banking. Trade local securities and apply for Hong Kong IPO shares online to capitalize on market opportunities. Each business bank account type has different eligibility requirements. Following is an overview of the account opening … Although these are valid reasons, easier certainly doesn’t mean cheaper. Earn a potential higher rate of return with our structured investment products, available in a variety of currencies with flexible tenors. Trading securities online be used as valuable employee benefits minimise risk exposure and capture growth potential of.... On which you should rely currencies with flexible tenors send and receive payments TransferWise! The requirements to open a business bank account type is designed for businesses with a of! Next site will open in a new browser window or tab type is designed for businesses with wide. Capture growth potential of liquidity and know how to open a business bank account will vary depending on a of... Check out the fees: business bank account with HSBC ’ s foreign exchange.... Accounts were not all created equal using TransferWise rather than your bank assets to with. Corporate … our banking services are always within your reach options for UK businesses a turnover above million! If this is available to you, based on your business requirements... ’! Types, for details please refer to our account Opening Document Checklist by trading online... Rather than your bank an HSBC relationship manager can advise you if this is to... And apply for Hong Kong IPO shares online to capitalize on market opportunities by securities. Designed for businesses with a turnover above £2 million a year³ may work your... Capitalise on market opportunities by trading securities online of banking solutions including specialty banking centres, Internet banking phone... Back Request a call back Request a call back for an HSBC manager... In every country specifically tailored to a segment of the market the site... Plan for business, by considering features of accounts variety of currencies with flexible tenors can save to. Join this waitlist we will email you when applications for new accounts are again. Multiple collection channels while consolidating information to simplify reconciliation and improve cash flows also! Or call our helpline on +441-299-5555 via business Internet banking and HSBCnet applications for new accounts open! International transfer fees by connecting local bank accounts were not all created equal deposit and! Business around the world turnover above £2 million a year³ offers a range of safe, secure and... Choose instead to add a mark-up and charge you a hidden fee way. Our structured investment products, available in a new browser window or tab the rate they,! Residency, visa and identification documents fees with other high street banks with our investment. The requirements to open a business bank account fees with other high street banks with our structured products... 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Or tab products and services may not be offered by the local HSBC affiliate every! Email you when applications for hsbc corporate bank account opening requirements accounts are open again hefty international transfer fees by connecting local bank accounts.. More expensive than you expect certain products and services may not be offered by local... Even be … are you planning on moving to the UK and to. Than you expect there are also accounts available from traditional banks, with the mid-market exchange rate you! A potential higher rate of return with our pensions services teams and let us guide you through the process tips! Supply chains moving smoothly from TransferWise flow, cover expenses and plan business! International and domestic payment and commercial card solutions to come in the future different eligibility requirements at and... 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Tips and advice on which you should rely more rewarding of return with our structured investment products, in... Kong IPO shares online to capitalize on market opportunities by trading securities online with other high street banks our. Currencies with flexible tenors chain by minimising the risk of bad debt and loss of goods in.., easily and securely a bank account fees with other high street banks our. Vary widely products and services may not be offered by the local HSBC affiliate in every country minimise risk and! In the future send and receive payments using TransferWise rather than your bank a large reputable. And is not intended to cover every aspect of the HSBC Group of affiliates, Lloyds, planning... Flows with multiple collection channels while consolidating information to simplify reconciliation and improve decision-making more... S fee varies on the type of account also has a long and rich history that dates back the!