
HSBC Advance Checking
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Community Rating | Strongly recommended |
Cashback Rewards | Up to 3% |
APY (Annual Percentage Yield) | 0.01% |
Monthly Fee | $0 - $25 |
Minimum Balance to Avoid Monthly Fee | Starting at $5,000 |
Number of Reviews | 5 |
HSBC Advance Checking Review
HSBC Advance Checking is offered by HSBC Bank USA, a bank founded in 1865 and based in New York, NY. HSBC Advance Checking are available in 50 states (and Washington, DC).
Key Takeaways
- To qualify for 3% Cash Bonus (rounded up to the nearest dollar) on Qualifying Direct Deposits up to $270 ($50 max per month), during the first 6 calendar months after account opening you must: (1) open your new HSBC Advance checking account from March 30, 2020 through and including June 29, 2020 and (2) set-up recurring Qualifying Direct Deposits from a third party to an HSBC Advance checking account at least once per calendar month for 6 consecutive calendar months following account opening month.
- $200 Bonus offer. Open a new account and you can get up to $200 (see terms and conditions for more details).
- Low APY. The maximum annual percentage yield for this account is only 0.01%.
- Charges a monthly fee. This account charges a monthly service fee of up to $25, but the fee is waived if you keep a minimum balance of $5,000, have a monthly direct deposit of $5,000, or $10,000 combined balance accross eligible accounts.
- Small minimum initial deposit. You only need $1 to open an account.
- No ATM fees. HSBC Advance Checking does not charge fees on ATM transactions.
HSBC Advance checking Pros & Cons
Pros | Cons |
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HSBC Advance checking FAQ
Are checking accounts from HSBC Bank USA federally insured?
Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #57890). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What APY does HSBC Advance checking offer?
Description | |
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APY (Annual Percentage Yield) | 0.01% |
HSBC Advance checking offers an APY of 0.01% (APY stands for annual percentage yield, rates may change). However, to earn interest account holders must keep an average beginning day balance of $5.
What are the account minimums for HSBC Advance checking?
HSBC Advance checking requires a minimum initial deposit of $1 to open an account.
Description | |
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Minimum Opening Deposit | Starting at $1 |
Minimum Balance to Avoid Monthly Fee | Starting at $5,000 |
Minimum Combined Balance to Avoid Monthly Fee | $10,000 |
Minimum Direct Deposit to Avoid Monthly Fee | Starting at $5,000 |
Minimum Balance to Earn APY | $5 |
What fees does HSBC Advance checking charge?
This account charges a monthly service fee of up to $25.
Description | |
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Monthly Fee | $0 - $25 |
ATM Fee: In-Network | $0 |
ATM Fee: Out-of-Network | Starting at $0 |
Foreign Transaction Fee (Debit Card) | 3% |
NSF Fee | $35 |
Overdraft Item Fee | $35 |
Overdraft Protection Fee (per transfer) | $10 |
Returned Deposit Fee (Domestic) | $12 |
Returned Deposit Fee (International) | $12 |
Stop Payment Fee | $30 |
Wire Transfer Fee - Domestic (Incoming) | $12 |
Wire Transfer Fee - Domestic (Outgoing) | $35 |
Wire Transfer Fee - International (Incoming) | $12 |
Wire Transfer Fee - International (Outgoing) | $35 |
Paper Statement Fee | $5 |
Online Bill Pay Fee | $0 |
Check Copy | $5 |
Check Image Service | $3 |
Check Cashing Fee | $5 |
Debit Card Replacement Fee | $0 |
Early Account Closure | $25 |
Does HSBC Advance checking charge overdraft fees?
Yes, HSBC Advance checking charges a $35 fee for every overdraft. You can get overdraft protection at a cost of $10 per transaction.What features and perks does HSBC Advance checking offer?
This account includes the following features:
- $200 Bonus offer. Open a new account and you can get between $200 up to $200 (see terms and conditions for more details).
- Check images with statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks.
- Fraud monitoring - HSBC Advance checking monitors transactions for potentially unauthorized activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
- Mobile Banking Services - HSBC Advance checking allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
What is the customer support email for HSBC Advance checking?
The customer support email for HSBC Advance checking is hsbcusahelp@us.hsbc.com.
How do people rate the customer service and user experience of HSBC Advance checking?
Overall, HSBC Advance checking is strongly recommended based on community reviews that rate customer service and user experience.
Message From HSBC Advance checking
Contact
- Headquarters
-
425 Fifth Avenue
New York, NY 10018 USA - (800) 975-4722
- Visit Site
- Email Support
Other Services by HSBC Bank USA
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Washington, DC
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
Minimum Opening Deposit | Starting at $1 |
Minimum Balance to Avoid Monthly Fee | Starting at $5,000 |
Minimum Combined Balance to Avoid Monthly Fee | $10,000 |
Minimum Direct Deposit to Avoid Monthly Fee | Starting at $5,000 |
Minimum Balance to Earn APY | $5 |
HSBC Advance Checking Community Reviews
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