HSBC Bank is a large multi-national bank and offers several banking products for different needs including: checking accounts, HSBC Direct Online Savings, CDs, investment services, and retirement accounts.
Continue reading our guide to help you on finding the right account for you, which important documents needed to open one, and how to play in person or online!
|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|
Table of Contents
- 1 Steps on Opening an HSBC Account
- 2 How to Contact HSBC Customer Service
- 3 HSBC Account Fees & Features
- 4 How to Avoid Unwanted Fees
- 5 How to Protect Your Bank Account
- 6 HSBC Promotions
- 7 Bottom Line
Steps on Opening an HSBC Account
1. Determine Which Account to Open
HSBC offers different accounts, so the HSBC account you want to open will depend on your current banking needs.
HSBC checking accounts
- HSBC Premier: Best for customers who keep high balances
- HSBC Advance: Best for customers who want great mortgage rates
- Choice Checking: Best for customers who want to fulfill day-to-day banking needs
- Basic Banking: Best for customers who don’t use their account often
HSBC savings accounts
- HSBC Premier Savings: Best for customers who keep high balances
- HSBC Advance Savings: Best for the typical banking customer with a medium balance
- HSBC Everyday Savings: Best for customers with lower balances who still want to save
2. Gather Personal Information
If you choose to apply for an account online or in person, HSBC will need the following documents and information from you in order to meet their account opening requirements.
- Personal information (name, date of birth)
- Social Security number
- Contact information (phone number, email, address)
- Employment status and income
When applying in person, make sure to bring your driver’s license, state ID or military ID to verify your identity.
3. Apply online or in Person
Once you’ve gathered the important documents and information, you can apply to open an account with HSBC either online or in person. You can follow these steps:
- Go to the HSBC homepage
- Hover over the “Banking” tab on the left
- Click on the type of account you want to open
- Select the specific account you would like to open
- Click “Learn more” and then “Get started”
- Fill out the necessary information
You can visit the nearest HSBC branch to apply in-person and a representative will help you with the application process. We recommend this for new HSBC customers, so they can get the starting guide they need!
How to Contact HSBC Customer Service
You can call HSBC’s customer service representatives for any questions that you might have when opening an account or about your account. You can reach them by:
- Personal Banking: 800-975-4722
- HSBC Premier Banking: 888-662-4722
- HSBC Advance: 866-584-4722
You can also chat with an HSBC representative via chat in your online banking portal, or send the bank mail at HSBC Bank USA, N.A., P.O. Box 2013, Buffalo, NY 14240.
HSBC Account Fees & Features
Like many other major banks, HSBC gives you access to a variety of checking, savings, and CD accounts. Keep reading the tables below to see the main fees and features of their checking and savings accounts.
Checking Account Fees & Features
HSBC has service fees for its checking accounts, but is waivable when your balance is high enough.
The table below lists all the different minimums, fees and benefits for each HSBC checking account, so you can decide which is right for you.
|HSBC Checking Accounts at a Glance|
|Fees and Features||HSBC Premier||HSBC Advance||Choice Checking||Basic Banking|
|Minimum opening deposit||$75,000 OR direct deposits totaling at least $5,000 a month||$5,000 OR one qualifying direct deposit per month||$1,500 OR one qualifying direct deposit per month ($0 minimum for students)||$0|
|Monthly service charge||$50||$25||$15||$1|
|Out-of-network ATM withdrawal fee||$0||$0||$2.50||$2.50|
|Benefits||Unlimited ATM withdrawal and international banking services||Lower balance requirement and preferred mortgage rates||Easy-to-meet balance requirements and international banking||Simple, balance requirements|
Savings Account Fees & Features
HSBC offers three types of savings accounts for high, moderate, and lower balances.
|HSBC Savings Accounts at a Glance|
|Fees and Features||HSBC Premier Savings||HSBC Advance Savings||HSBC Everyday Savings|
|Minimum opening deposit||$0, but you must have an HSBC Premier checking account already||$0, but you must have an HSBC Premier or Advance checking account already||$0|
|Monthly service charge||$0||$0||$0|
|Out-of-network ATM withdrawal fee||$0||$0||$2.50|
|Benefits||Tiered and competitive interest rates based on balance||Lower balance requirement and easy international banking||Open to everyone, no balance requirement|
How to Avoid Unwanted Fees
You can avoid HSBC’s banking fees by meeting the account minimum balance or direct deposit requirements.
- Premier: $75,000 OR direct deposits totaling at least $5,000 a month
- Advance: $5,000 OR one qualifying direct deposit per month
- Choice Checking: $1,500 OR one qualifying direct deposit per month ($0 minimum for students)
- Basic Banking: $1 monthly service charge no matter what
- Everyday Savings: $0
How to Protect Your Bank Account
There are ways to prevent your account from fraud. Do know that HSBC accounts are FDIC insured up to $250,000, so as long as you’re below that amount, you’ll get your money back.
Here are some precautions to take to avoid fraud:
- Use strong passwords that nobody else could guess.
- Enable two-factor authentication, meaning your account is accessed with a two-step process including a password and fingerprint or face scan.
- Install cybersecurity protection on your computer and phone.
- Monitor your transaction history for suspicious activity.
- Turn on online banking alerts so you’ll be notified with each transaction.
HSBC is a well known bank with a solid reputation. They offer competitive rates on their online savings account!
If you travel often and want access to your bank account anywhere with little to no ATM fees then consider checking out HSBC’s offerings.
However, if you prefer lower balance requirements that earn high interest rates then you might want to look elsewhere.