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 is available in 50 states (and Washington, DC).

• 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.
• Hard credit pull. HSBC Bank USA may require a hard pull on your credit report to open a checking account.

Are checking accounts from HSBC Bank USA federally insured?

Yes, your HSBC Bank USA checking accounts 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?

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.

What fees does HSBC Advance Checking charge?

This account charges a monthly service fee of up to $25.

Does HSBC Advance Checking charge overdraft fees?

HSBC Advance Checking offers overdraft protection at a cost of $10 per transaction.

What features and perks does HSBC Advance Checking offer?

This account includes the following features:

• Signup bonus - Open an account and you may receive a signup bonus of up to $200. See offer page 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 fraudulent 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.