HSBC Bank vs Synchrony Bank: Which Is Better?

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.

	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.

HSBC Bank Promotions

HSBC Advance checking accountHSBC Premier checking accountHSBC Direct Savings account

• Get up to $240 with a 3% Cash Bonus Checking Offer when you open a new HSBC Advance checking account and complete the following qualifying activities. • Open your new HSBC Advance checking account online by September 30, 2020; and • Set up Qualifying Direct Deposits into your new HSBC Advance checking account; and then • Enjoy 3% Cash Bonus, up to $240, on Qualifying Direct Deposits up to $40 per month, during the first 6 calendar months after account opening • You will automatically receive the 3% Cash Bonus in your new HSBC Advance checking account approximately eight weeks after completing that month's qualifying activities. Apply Now at HSBC Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

• Get a $200 Welcome Deposit for eligible new customers who open a new HSBC Advance checking account and complete the following qualifying activities. • Open your new HSBC Advance checking account online by September 30, 2020; and • Make recurring monthly Qualifying Direct Deposits totaling at least $500 from a third party to your HSBC Advance checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening • You will automatically receive the $200 Welcome Deposit in your new HSBC Advance checking account approximately eight weeks after completing all qualifying activities. It's that simple. Apply Now at HSBC Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

*See all HSBC Advance Checking offers here.

• Get up to $600 with a 3% Cash Bonus Checking Offer when you open a new HSBC Premier checking account and complete the following qualifying activities. • Open your new HSBC Premier checking account online by September 30, 2020; and • Set up Qualifying Direct Deposits into your new HSBC Premier checking account; and then • Enjoy 3% Cash Bonus, up to $600, on Qualifying Direct Deposits up to $100 per month, during the first 6 calendar months after account opening • You will automatically receive the 3% Cash Bonus in your new HSBC Premier checking account approximately eight weeks after completing that month's qualifying activities. Apply Now at HSBC Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

• 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 September 30, 2020; 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. Apply Now at HSBC Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

*See all HSBC Premier Checking offers here.

*See all HSBC Direct Savings offers here.

Compare to Other Banks

HSBC

• HSBC Bank vs Wells Fargo
• HSBC Bank vs Citibank
• HSBC Bank vs Capital One
• HSBC Bank vs Bank of America
• Huntington Bank vs HSBC Bank

Synchrony Bank

• Synchrony Bank vs CIT Bank
• Synchrony Bank vs Ally 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.

Chase Coupon Promo Codes $100, $200, $300, $350, $500, $725, $1000, $2000 for August 11, 2020

Huntington Bank Promotions: $150, $200, $400, $500, $750 Checking Bonuses for August 11, 2020

HSBC Bank Promotions: $200, $240, $450, $600, $2,000 Checking Bonuses for August 9, 2020

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