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HSBC is offering 18 months of free business banking to SMEs switching their business bank accounts to HSBC.
Businesses taking advantage of the scheme will not have to pay charges for cash and cheques or for credits paid into their accounts.
There will also be no charges for direct debits, standing orders or bill payments made from the business current account in question.
Simon Wainwright, head of business banking at HSBC, said: "The business bank account market has become as competitive as the personal banking market in recent years and business owners are increasingly savvy about getting the right banking service at the right price.
"Our new transfer package offers outstanding value for money and we will manage the switching process from end-to-end to make it as hassle free as possible to move to HSBC."
HSBC already offers 18 months free banking for people undertaking a new company formation.
The offer applies to HSBCs Business Current Account and HSBC Business Direct. It runs from June 1st to August 31st and is available to businesses with a turnover of up to £500,000.
Competition is fiercer than ever in the banking sector and many banks are working hard to attract the interest of small businesses.
Many banks in the UK now offer free or discounted banking for business start-ups. Experts have suggested that small business owners investigate all their banking options carefully before opening a business account.
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