HSBC Bank is one of the largest banks with physical branches globally. Not to mention that they also have an online banking system called HSBC Direct.
They offer a variety of products for every banking needs that a customer might be looking for.
HSBC provides both traditional banking and investment services, while their online operation offers higher interest rates on its deposit accounts. This might be the right bank for people who want the convenience of a large traditional bank, while achieving high interest rates for their savings.
If you want to know more about HSBC Bank, continue reading our review below to learn more on which feature best accommodates your individual banking needs.
Compare HSBC Promotions to the latest banking promotions from institutions like Chase Bank, U.S. Bank, Huntington Bank, Discover Bank, TD Bank, CIT Bank, and Bank of America.
Checking Account Options
HSBC offers checking accounts for different needs. All checking accounts offer a HSBC Debit Mastercard, access to HSBC ATMs worldwide, free online and mobile banking, and optional overdraft protection.
The HSBC Premier checking account is best for high new worth individuals who requires global access. Additionally, you get a Relationship Manager who can help with all services that HSBC offers.
With the HSBC Advance checking account, you’ll be able to take advantage of 24/7 priority phone support, international benefits, online financial tools, and much more.
This is best for low balance customers since this basic checking account has no balance requirement, but it does have a $3 monthly service fee.
Choice Checking offers convenience and value to your day to day banking needs! With this account, you will get unlimited free check writing as well as free online and mobile banking!
Compare Checking Accounts
Savings Account Options
The HSBC Direct Online Savings offers one of the highest interest rates on the market! This is a basic online savings account with no ATM card. View our list of the best interest bearing accounts here.
In order to access your money is to transfer the funds to a checking account, whether it’s from HSBC or from another bank. Keep in mind that this account can only be opened online since HSBC Direct is an online bank.
Compare Savings Accounts
CD Account Options
For Certificate of Deposit accounts, you must leave your money in the account for the entire required term or else you will incur a penalty. If you sign up you get a locked in interest rate for the whole term.
HSBC offers 3 term CDs from 6-monthm 12-month, and 24-month. Although the APY is not the highest on the market, it’s pretty decent. But you can get a much higher interest with their online savings account.
Compare CD Accounts
| Service Credit Union | 4.25% APY 9-Month CD | Review |
| Western Alliance Bank | 4.50% APY 3-Month CD | Review |
| Western Alliance Bank | 4.40% APY 6-Month CD | Review |
| Rising Bank | 4.40% APY 6-Month CD | Review |
| Rising Bank | 4.35% APY 15-Month CD | Review |
| First Tech Federal Credit Union | 4.35% APY 13-Month Share Certificate | Review |
| Quontic Bank | Up to 4.25% APY CD | Review |
| Western Alliance Bank | 4.25% APY 12-Month CD | Review |
| Ponce Bank | 4.25% APY 3-Month High Yield CD | Review |
| Sallie Mae | 4.25% APY 14-Month CD | Review |
| Ponce Bank | 4.15% APY 4-Month No-Penalty CD | Review |
| Live Oak Bank | 4.10% APY 12-Month CD | Review |
| Live Oak Bank | 4.10% APY 12-Month Business CD | Review |
| First Mid Bank & Trust | 4.08% APY 9-Month CD | Review |
| Alliant Credit Union | 4.05% APY 12-Month Certificate | Review |
| Discover Bank | Up to 4.00% APY CD | Review |
| Sun Canyon Bank | 3.98% APY 11-Month CD | Review |
| Sallie Mae | 3.95% APY 10-Month CD | Review |
| Western Alliance Bank | 3.85% APY 5-Month CD | Review |
| GreenState Credit Union | 3.80% APY 10-Month CD | Review |
| Blue Federal Credit Union | 3.75% APY 9-Month No Penalty CD | Review |
| Blue Federal Credit Union | 3.75% APY 15-Month CD | Review |
| CIT Bank | 3.50% APY 13-Month CD | Review |
| CIT Bank | 3.50% APY 11-Month No-Penalty CD | Review |
| Southwestern National Bank | 3.40% APY 8-Month CD | Review |
| First Financial Northwest Bank | 3.00% APY 12-Month CD | Review |
| Ponce Bank | 3.00% APY 1-Month High Yield CD | Review |
| CIT Bank | 3.00% APY 6-Month CD | Review |
| CIT Bank | 3.00% APY 18-Month CD | Review |
Investment Services
Furthermore, HSBC also offers investment services. With the help of their financial professionals, you can develop an investment strategy that works best for you.
HSBC offers a variety of products from stocks, ETFs, options, no load mutual funds, and fixed-income securities! Plus there is no fee to open any of these!
You can choose from five asset allocation models! Their financial professionals can help you choose the best one that fits your goals and risk tolerance.
An investment advisor will help you customize a portfolio and come up with the best asset allocation for you!
| J.P. Morgan Self-Directed Investing (Up to $700 Cash) | TradeStation ($150 Cash) |
| M1 High-Yield Cash Account (4.00% APY) | E*TRADE (Up to $6,000 Cash) |
| WeBull (Free Stocks) | |
Retirement Account Options
HSBC offers different types of retirement accounts:
- Traditional IRA
- Roth IRA
- SIMPLE IRA
- SEP Retirement Plans
- 401(k) Retirement Plan
- 403(b) Retirement Plans
Reasons to Bank with HSBC Bank
- HSBC offers bonuses to new customers when they open a checking account and meeting certain requirements. Check out the latest HSBC promotions here.
- HSBC is a global bank that operates in more than 60 countries, so if you travel often it’s nice to know you can still find your bank overseas. Making it easier to withdraw money from ATMs and get emergency financial support when needed.
- You can use the debit card to access ATMs globally, however, the ATM operator or network may charge a fee for ATMs located outside the U.S.
- HSBC Direct’s online savings account offers one of the highest APYs on the market!
- If you have the Advance or Premier Checking Account, you may be eligible to for preferred loan rates or special financing options.
- All checking accounts come with an optional overdraft protection feature. You can also get a personal line of credit that allows you to borrow money as you need it! So if you accidentally overdraft your checking account. this line of credit can be used to cover it.
Reasons Not to Bank with HSBC Bank
- HSBC’s checking accounts have high fees. There is a monthly service fee, unless you can meet direct deposit or balance requirements.
- Other than their HSBC Direct online savings accounts, the accounts they have offer low interest rates. So if you have a lot of money to deposit in the bank, other online banks offer better deposit rates where your money can grow faster.
HSBC Bank Routing Number
021001088 – HSBC BANK USA, N.A.
Contact Customer Service
- Personal Banking: 1-800.975.4722
- HSBC Premier Banking: 1-888.662.4722
- HSBC Advance: 1-866.584.4722
How HSBC Bank Compares
- Ally Bank: An online bank with competitive interest rates compared to other online banks and higher rates than most brick and mortar ones.
- Charles Schwab: Charles Schwab is a brand well-known in the investment world. Founded in 1973, this brokerage firm now holds over 2.5 trillion in total client assets. When it comes to investing your money and building interest over time, Charles Schwab knows what they are doing.
Compare to Other Banks
- HSBC Bank vs Wells Fargo
- HSBC Bank vs Citibank
- HSBC Bank vs Synchrony Bank
- HSBC Bank vs Capital One
- HSBC Bank vs Bank of America
- HSBC Bank vs Regions Bank
- HSBC Bank vs KeyBank
- Huntington Bank vs HSBC Bank
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Bottom Line
HSBC Bank offers some of the best bank promotions as a welcome deposit. There are three checking accounts to select from and the monthly service fees are all avoidable.
So if you are interested and qualify, be sure to apply for a new checking account today. Don’t forget to let us know your experience with bank or bonus by commenting below.
HSBC is a well known bank with a solid reputation, this could be the right bank for you if you’re looking for one with a huge global presence.
For high net individuals, you can have more incentive with premium service and better loan rates.
So if you are interested, be sure to check out more of HSBC Bank promotions!
But if this isn’t the bank for you, you can check out the best bank promotions for more options or read our bank reviews to see in detail which fits you!
See more on what HSBC has to offer!
Helpful Tips:
Can the person who uses the referral code also get the $200 promo offer or is it either or?
You are wonderful. Thanks.
For those that signed up back in November last year for the 350 HSBC Advance bonus (I was one of them), the bonus just posted on April 21. Also, I received a letter stating the fees are going up to 25$ from $20. There was a line below which said the fee will be waived from May ’15 to May ’16 – go figure!!
It says “share your personalized referral code with a friend”, Does it have to be personalized for me?
It works !!!
My friend and I just got $100 bonus.