HSBC Bank is a large multi-national bank and offers several checking accounts for different needs.
HSBC Direct is the online banking operation and offers high interest savings for just a minimum deposit of a dollar with no service fees.
Albeit, Synchrony Bank offers one of the highest interest savings including an ATM card for withdrawals.
There are no services fees as well is a minimum deposit. However, their CDs requires a $2,000 minimum deposit to open.
Continue reading below for a more in-depth look for both HSBC Bank and Synchrony Bank. You can choose to see which one fits your needs the most.
| PROMOTIONAL LINK | OFFER | REVIEW |
| HSBC Premier Checking Member FDIC | $450 Cash | Review |
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| HSBC Bank | Synchrony Bank | |
| Locations | Over 240 branches on the East and West Coasts
HSBC Direct- Online only |
Online based banking |
| ATMs | HSBC ATMs in U.S.; HSBC ATMS abroad may incur additional fees and foreign conversion rates. | Any ATMs with Plus or Accel logos |
| Savings | 5/5 | 5/5 |
| CD | N/A | 5/5 |
| Checking | 5/5 | |
| Money Market | N/A | 4/5 |
| Customer Service | 4/5 | 4/5 |
| Mobile App | N/A | |
| Pros | -Global presence -High online savings APY |
-Savings with ATM card -High APY -All balance tiers receive same rate |
| Cons | -Not in every state | -No checking account -High APY -All balance tiers receive same rate |
| Bottom Line | HSBC offers a full array services like high-yield online savings and several checking options. | Synchrony Bank offers competitive rates for their savings and CDs accounts. |
Table of Contents
HSBC Bank Promotions
 • Get a $450 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities. • Open your new HSBC Premier checking account online by March 31, 2022; and • Make recurring monthly Qualifying Direct Deposits totaling at least $5,000 from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening. • You will automatically receive the $450 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It's that simple. Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC. |
Compare to Other Banks
- HSBC Bank vs Wells Fargo
- HSBC Bank vs Citibank
- 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
Bottom Line
Which Bank is Better: HSBC or Synchrony Bank?
In summary:
- HSBC is a well known bank with a solid reputation. They offer competitive rates on their online savings account!
- Synchrony Bank offers several banking options not only that their APYs is considered one of the higher rates in the industry. However, they fall back on limited customer service.
For more variety of options, see our list of the best bank account bonuses & savings account offers.
More on HSBC:
More on Synchrony Bank:
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