How to Open HSBC Business Account | Steps To Get You Started

This article will walk you through the process of opening HSBC Business Account. Everything you need to know is contained in this article. Keep reading to stay informed about hsbc business account opening

So in this article, we will be answering the following questions;

What do I need to open a business account HSBC?,
How long does it take to open an HSBC business account?,
How do I open up a business account?,

About HSBC

HSBC remains one of the oldest banks in Asia originating from British Hong Kong. It is widely known that nearly all businesses which operates in Asia uses HSBC as their business account. With HSBC account, you can easily make transfer globally, hence making offshore accounts less necessary.

First of all, let us answer the question what is an HSBC Business Account?

What is an HSBC Business Account?

An HSBC Business Account is a bank account that you can open up if your business has a turnover of more than £25,000 per year. This enables the owner to have sole control over their own funds and payees without having to be liable for any other partner or director’s actions.

What do I need to open an HSBC Business Account?

You will need to have a business bank account with HSBC, be registered for VAT and have two signatories who are also HSBC customers. Here are documents needed to successfully open HSBC Business account.

Documents needed to open a sole proprietorship HSBC Business Account are;

HSBC Business Account Application Form
VAT Registration Number/Business Address Proof Document
Company bank statement of the last three months showing a turnover of more than £25,000 per year. The latest must be at least six month old. Usually, this is supplied by HSBC themselves when you open your account with them.
Copy of your passport or residence permit
Proof of Address by providing utility bills under the same name as shown on your application form for last three months, etc…

Again, here are documents needed to open HSBC Business Account;

•Application Form (the one you download from their website)

•Company bank statement

•VAT Registration Number/Business Address Proof Document

•Copy of your passport or residence permit

•Proof of Address by providing utility bills under the same name as shown on your application form for last three months, etc…

Documents needed to open a HSBC Business account for a limited Liability Company are;

Business Registration Certificate
Employment later/ Certificate/License
Notice of participation issued by MPF Trustee
Proof of applicant source of wealth
Proof of source of fund
Latest report of business audit
Business proof
CRS self-certification form
HSBC Business Account Application Form
VAT Registration Number/Business Address Proof Document
Company bank statement of the last three months showing a turnover of more than £25,000 per year. The latest must be at least six month old. Usually, this is supplied by HSBC themselves when you open your account with them.
Copy of your passport or residence permit

How do I open up a business account?

Visit the bank with the required documents

You can also visit the retail locations.

HSBC mobile apps can accept and scan documents from your device or local file directly to any bank.

At time you may need to go with the stake holders of your company. You will be notified when your account has been approved after the visit.

How long does it take to open an HSBC business account?

It can take up to five working days for the documents you send us to reach the accounts team, but once they receive them it takes three to five working days to open your business account.

What to do if your application is declined?

In the event of your application being declined, what should you do? But the big question is, is there any possibility of your application being declined? Yes. This may be due to the documents you submit or the nature of your business. In such cases, you need to re-email them to reconsider your application. When re-emailing them, endeavor to provide the following;

Company name
Company’s business registration certificate
Name of bank branch you met with
The date you first met with the bank officials
Other useful information

Conclusion

In conclusion, to open a HSBC Business account, you will need to have all the documents mentioned in this article. Please make sure follow our guide in order to ensure that you get you HSBC account opened correctly. If this article has been useful to you, please share and leave a comment behind.

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