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 |
HSBC Premier Checking Member FDIC | Up To $600 | Review |
HSBC Advance Checking Member FDIC | $200 Cash | Review |
HSBC Advance Checking Member FDIC | Up To $240 | 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
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
My favorite bank transfer hub is the American Express® High Yield Savings Account: • Earn 0.50% APY on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly. • Links easily with your current bank accounts. No need to switch banks. • FDIC Insured. Your account is insured to at least $250,000 per depositor. • No monthly fees, no minimum balance. • 24/7 Account Access |
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:
PROMOTIONAL LINK | OFFER | REVIEW |
Chase Business Complete BankingSM | $300 Cash | Review |
Chase Total Checking® | $200 Cash | Review |
HSBC Premier Checking Member FDIC | $450 Cash | Review |
HSBC Premier Checking Member FDIC | Up To $600 | Review |
HSBC Advance Checking Member FDIC | $200 Cash | Review |
HSBC Advance Checking Member FDIC | Up To $240 | Review |
Huntington 25 Checking | $300 Cash | Review |
TD Bank Beyond Checking | $300 Cash | Review |
TD Bank Convenience CheckingSM | $150 Cash | Review |
Huntington Bank Unlimited Plus Business Checking | $750 Cash | Review |
Huntington Bank Unlimited Business Checking | $400 Cash | Review |
Huntington Bank Business Checking 100 | $200 Cash | Review |
Axos Bank Basic Business Checking | $100 Cash | Review |
Aspiration Spend & Save Account | $100 Cash | Review |
Ally Invest | Up to $3,500 Cash | Review |
BlockFi | Up To $250 BTC | Review |
American Express High Yield Savings | 0.50% APY | Review |
Discover Cashback Debit Account | $360 Cash | Review |
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