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HSBC Reviews


bestfor-icon Zero Transaction Fees at HSBC ATMs

Written by Lauren Brown

About HSBC | Read More


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HSBC Online Banking Review

HSBC offers personal checking and savings accounts to its Premier clients.

To qualify for HSBC’s Premier relationship status and open an account, you must meet one or more of the following requirements:

· Hold $75,000 or more in deposits and/or investments
· Receive $5,000 or more in direct deposits every month
· Have a residential mortgage with HSBC for $500,000 or more in original loan value

HSBC Online Banking Highlight

Over 55,000 fee-free ATMs

ATM Network


Maintenance Fees


Other Fees

Online Banking Savings


Min APY Savings

Online Banking Checking


Min Balance

Min 0.01%

Min APY Checking

Pros & Cons

  • con-icon No banking fees if you maintain Premier statusements
  • con-icon Higher APY is available based on account balance or type
  • con-icon Global bank presence allows for seamless movement of money and international credit history
  • con-icon Premier clients receive benefits anywhere in the world
  • con-icon Limited access as personal accounts are available to HSBC Premier clients only
  • con-icon $50 monthly fee on accounts without an HSBC Premier relationship
  • con-icon Eligibility requirements are complex and can change over time

Account types

  • Checking
  • Savings
  • Certificates of Deposit (CD)


Account 1 Year 3 Years 5 Years
Premier checking 0.01% n/a n/a
Premier savings – (standard)
  • 0.15% (account balance of $100,000 or more)
  • 0.10% (account balance between $25,000 and $99,999.99)
  • 0.01% (account balance of up to $24,999.99)
n/a n/a
Premier relationship savings
  • 0.05% (monthly eligibility requirements NOT met)
  • 4.50% (monthly eligibility requirements met)
n/a n/a

Features Benefits & Rewards

  • International banking presence 
  • Ease of money transfer on both a domestic and global basis
  • No wire transfer costs
  • No additional fees if you maintain HSBC Premier status
  • Maintain credit worldwide
  • APY variability based on account balance and type
  • No or low minimum balance is needed
  • Account opening is available online or with a Wealth Relationship Manager
  • Available to Premier clients only

Opening an Account With HSBC

To open a Premier account with HSBC, you can either make an appointment with one of the company’s Wealth Relationship Managers or apply online. The online application process takes approximately five to ten minutes, provided you meet all eligibility criteria and are in the United States at the time of application.

The HSBC account opening process will require the following:

  • Personal information, including your full legal name, date of birth, and contact details
  • Social Security Number
  • Employment information
  • Annual income
  • Tax residency details
  • Photo ID such as a US driver’s license or passport
  • Proof of address using a utility bill or bank account statement, for example
  • Proof of student enrolment (if applicable)

State Availability

- Available in all states

Written by Lauren Brown linkedin-icon

Lauren has over a decade of experience in wealth management and financial planning. She is a CFA charterholder and holds a Bachelor's degree in Finance. Lauren has worked with several asset management firms, offering wealth advisory and portfolio management services to high-net-worth clients.



Is the HSBC mobile app good?

HSBC does offer a mobile app on both iOS and Android. However, user reviews have been mixed at best. Our recommendation would be to do online banking with HSBC via desktop for a better user experience.

Can anyone open an account with HSBC US?

No, you’ll need to meet the criteria for a Premier account. You can meet this by either holding $75,000 across HSBC accounts, receiving $5,000 direct deposits each month or holding a HSBC mortgage greater than $500,000.

Can I withdraw cash from ATMs across the US with a HSBC card?

Yes, over 50,000 fee-free ATMs are available on the Allpoint ATM network.

Customer Support

For many multinational banks, customer service can be a hit-or-miss experience. However, HSBC offers many ways to get in touch with its customer care team. Options include online live chat, mobile app chat, Apple Business Messages, telephone, and Twitter.

We contact support via online chat to enquire about the minimum qualification requirements to apply for a HSBC Premier account. A chat support agent replied to us immediately with the exact information we had asked for. Some online chats can have long wait times between responses, but HSBC seems to have a very responsive customer support live chat service.

Privacy & Security

HSBC has been operating worldwide for over 150 years. The financial institution has been operating in the US under the HSBC brand since 1998. Privacy and security are of the utmost importance to HSBC, and there is a lengthy Privacy Policy stating how your personal data will be treated.

In short, HSBC state that your information will not be shared with third parties unless permitted or required by law. HSBC has full FDIC insurance coverage, and no recent security breaches were noted regarding personal data.

In Conclusion

HSBC offers Premier Banking services to customers if they meet specific criteria, such as $75,000 held in a HSBC account, $5,000 in monthly deposits, or a HSBC mortgage of more than $500,000. Ultimately, this makes you eligible for a HSBC Checking Account, Savings Account, or CDs.

However, the interest rates offered on the Checking accounts are low, with much higher rates available with other banks. Savings accounts and CDs do offer competitive rates, and we would recommend these products if you meet the Premier banking requirements.

Brand Disclaimer

To qualify for an HSBC Premier relationship, you’ll need to open an HSBC Premier checking account and maintain balances of $75,000 in personal deposit accounts and investment balances. Alternatively, you’ll need recurring direct deposits totaling at least $5,000 from a third party to an HSBC Premier checking account(s) per calendar month. Or, you need an HSBC US residential mortgage loan with an original loan amount of at least $500,000.

Business owners may use their qualifying HSBC US Dollar commercial balances to qualify for a personal Premier relationship. A monthly maintenance fee of $50 will be incurred if one of these requirements is not maintained.