HSBC Premier checking Review

HSBC Premier checking is offered by HSBC Bank USA, a bank founded in 1865 and based in New York, NY. HSBC Premier checking is available in 50 states (and Washington, DC).

• $450 Signup Bonus. Open a new account and you can get up to $450 (see terms and conditions for more details).
• Low APY. The maximum annual percentage yield for this account is only 0.01%, and you must keep a minimum balance of $5.
• Charges a monthly fee. This account charges a monthly maintenance fee of up to $50, but the fee is waived if you keep a minimum balance of $75000, have a monthly direct deposit of $5000, or $75,000 combined balance accross eligible accounts..
• Small minimum initial deposit. You only need $1 to open an account.
• 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 Premier checking offer?

HSBC Premier checking offers an APY of 0.01% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $5.

What are the account minimums for HSBC Premier checking?

HSBC Premier checking requires a minimum initial deposit of $1 to open an account.

What fees does HSBC Premier checking charge?

This account charges a monthly maintenance fee of up to $50.

What features and perks does HSBC Premier checking offer?

This account includes the following features:

• Signup Bonus - Open an account and you will receive a signup bonus of up to $450.
• Mobile Banking Services - HSBC Premier checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
• Nationwide ATM network - Conveniently transact at a nearby ATM.