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 thelatest banking promotions from instiutions like Chase Bank, Huntington Bank, Discover Bank, TD Bank, BBVA, 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
 • New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit • Access to more than 16,000 Chase ATMs and more than 4,700 branches • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device. • Open your account online now • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com. • Chase Overdraft AssistSM – no overdraft fee if you’re overdrawn by $50 or less at the end of the business day or if you’re overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day* *With Chase Overdraft AssistSM, we won't charge an Insufficient Funds Fee if you're overdrawn by $50 or less at the end of the business day OR if you're overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase 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
 With the American Express® High Yield Savings Account: • Earn 3.75% APY as of 3/16/23 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. • 24/7 Account Access |
 With the CIT Bank Savings Builders account: • Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn up to 1.00% APY on your funds - grow your savings faster. • Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate. • FDIC Insured |
With the American Express® High Yield Savings Account: • Earn 3.75% APY as of 3/16/23 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. • 24/7 Account Access |
 Open a Discover Online Savings Account for all these features: • Earn $200/$150 Bonus with promo code HMB223 by 06/15/2023 • Earn high interest rate of 3.60% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 • See advertiser website for full details To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code HMB223 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200. What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. |
 • Earn up to 0.61% APY with interest compounded daily and no monthly fees with the Axos Bank High Yield Savings account • No minimum balance requirements • Free ATM card upon request • $250 minimum opening deposit • Free Incoming Wires |
Compare Money Market Accounts
• Earn 0.25% APY with the Axos Bank High Yield Money Market • FDIC Insured • Check writing privileges • No monthly maintenance fees • No minimum balance requirements • Debit card transactions • Minimum Balance Required to Open the Account: $ 1000.00 |
 • Get started and open a Discover Money Market Account in 3 easy steps. • Available nationwide online • Earn high yields with flexible access to your cash. • Earn 3.55% APY balances $100,000 and over • Earn 3.50% APY balances under $100,000 • Open with as little as $2,500. • No hidden fees. No surprises. • Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs |
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily. • Earn 1.55% APY on your funds • One of the nation's top rates — several times the national average. • Get up to 6 digital transfers/withdrawals per statement cycle • Save smart and get more for your money • Higher rates than traditional banks • Get 24/7 Account Access • Secure banking features • Open with as little as $100 • FDIC insured |
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
 • Available online nationwide • Earn up to 4.65% APY • $1,000 minimum to open • Selection of terms to meet your needs • A range of choices. Low minimum deposits. • No fees to open or maintain the account • Available as Custodial • Open a CIT Bank Certificate of Deposit Account today! |
With the CIT Bank No-Penalty 11-Month CD: • Earn 4.15% APY on your funds with just a $1,000 minimum deposit. • The perfect balance between a great fixed rate and flexible money access. • Access funds, if needed. No penalty. • No opening or maintenance fees • Shorter 11-month timeframe and a great APY • If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them. |
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months • Rates ranging from 2.00% APY up to 4.75% APY. • Opening a Discover Bank Certificate of Deposit is extremely quick and easy. • Funds on deposit are FDIC-insured up to the maximum allowed by law. • Start today with a minimum deposit of $2,500! • Get started and open a Discover CD in 3 easy steps. |
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!
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
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:
