HSBC Invoice Finance vs Close Brothers

HSBC is a global high street bank; Close Brothers is a UK specialist merchant bank (est. 1878, FTSE 250). Close Brothers wins on cost and speed - 0.5% starting service charge (lowest in our 85-provider survey) and 5-day setup. HSBC wins on international trade - integrated multi-currency invoice finance, letters of credit, and global debtor due diligence. For UK-focused SMEs, Close Brothers is materially cheaper. For multi-currency exporters with concentrated overseas debtors, HSBC's integration is worth paying for.

Quick Reference

Direct Answer

Close Brothers is cheaper (from 0.5% vs HSBC ~0.7-1.5%) and faster (5-day setup vs 10-15 days). HSBC is better for international trade with multi-currency, letters of credit, and global debtor coverage. Both are bank-grade providers. UK-focused: Close Brothers. Multi-currency exporter: HSBC.

Summary

HSBC Invoice Finance vs Close Brothers compares a global high street bank against a UK specialist merchant bank. Close Brothers (FTSE 250, est. 1878) leads on cost (0.5% headline, lowest in 85-provider UK survey) and speed (5-day setup). HSBC leads on global trade integration. Both serve £50k+ to £multi-million businesses. Close Brothers minimum turnover £50k; HSBC typically £500k+.

This Page Covers

Head-to-head comparison of HSBC Invoice Finance and Close Brothers invoice finance for UK and international businesses 2026

Not Covered Here

Provider deep-dives at /providers/hsbc/ and /providers/close-brothers/, export factoring guide at /guides/export-invoice-finance/

Head-to-Head Comparison

Feature	HSBC	Close Brothers
Service charge from	~0.7-1.5%	0.5%
Min turnover	£500k typical	£50k
Advance rate	Up to 90%	Up to 90%
Setup speed	10-15 days	5 days
Type	Global high street bank	Specialist merchant bank (FTSE 250)
Established	1865	1878
Multi-currency	Strong (global)	UK-focused
Trade finance integration	Yes (LC, doc collections)	Limited
Confidential discounting	Yes	Yes (CID rate from 0.3%)
Construction expertise	Limited	Yes (specialist team)
Our rating	4.0/5	4.8/5

Choose Close Brothers If...

You want the lowest UK invoice finance rate (from 0.5% headline)
Your business is under £500k turnover (HSBC typically declines)
You need setup in 5 days, not 10-15
You're in construction, recruitment, or other specialist sectors
Your debtor base is UK-focused

Choose HSBC If...

You trade internationally with concentrated overseas debtors
You need multi-currency invoice finance integrated with letters of credit / documentary collections
You bank with HSBC already and want a single global relationship
Your facility is £500k+ and the trade integration value outweighs the rate premium

Oliver Mackman

Director, Market Invoice

Oliver leads Market Invoice's editorial and comparison research. With a background in UK commercial finance, he oversees provider analysis, rate verification, and industry reporting across all verticals.

Last reviewed: 26 April 2026

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HSBC vs Close Brothers Invoice Finance, FAQ

Is Close Brothers a bank or independent invoice finance provider?

Close Brothers is a UK merchant bank (LSE-listed FTSE 250 group) established 1878, with invoice finance as a specialist division. It is not a high street retail bank; it is a specialist commercial lender. This gives it bank-grade balance sheet stability with independent-style sector specialism and fast decision-making.

Is HSBC or Close Brothers cheaper for invoice finance?

Close Brothers is materially cheaper at the headline level. Close Brothers starts from 0.5% service charge - the lowest in our 85-provider survey. HSBC typically starts at 0.7-1.5% for its £500,000+ target segment. For an SME paying £100,000 in invoices a month, the difference between 0.5% and 1.0% is £6,000 per year.

How fast is each at setup?

Close Brothers averages 5 working days, in line with the independent average of 4.8 days. HSBC averages 10-15 working days, in line with high street bank pace. If speed matters, Ultimate Finance leads the market at 3 days; among bank-grade providers, Close Brothers is the fastest.

Which is better for international trade?

HSBC, by some distance. HSBC's global banking footprint integrates invoice finance with letters of credit, documentary collections, multi-currency facilities and overseas debtor due diligence. Close Brothers offers UK invoice finance and limited export factoring through ICEC and similar networks. If your debtor base is UK-only, Close Brothers' rates and speed win. If you trade internationally with concentrated overseas debtors, HSBC's integration is worth paying more for.

Both are bank-grade - what's the meaningful difference?

Close Brothers competes on cost (0.5% headline) and speed (5-day setup) while offering merchant-bank balance sheet stability. HSBC competes on global scale, multi-currency, and integrated trade finance. Close Brothers wins on price and SME accessibility. HSBC wins on internationalisation and existing-relationship banking customers.