HSBC Direct Savings Review
HSBC Direct Savings is offered by HSBC Bank USA,
founded in 1865 and based in New York, NY.
HSBC Direct Savings is available in
50 states (and Washington, DC).
Are savings accounts from HSBC Bank USA federally insured?
Yes, your HSBC Bank USA savings 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.
Does HSBC Bank USA offer a signup bonus?
HSBC Direct Savings has a signup bonus of $0.
What is the minimum balance for HSBC Direct Savings?
The minimum balance to open a HSBC Direct Savings is $1.
HSBC Direct Savings Account Minimums
|APY Minimum Balance
|Minimum Initial Deposit
|Minimum Combined Balance to Avoid Monthly Fee
|Minimum Direct Deposit to Avoid Monthly Fee
|Minimum Balance to Avoid Monthly Fee
What APY does HSBC Bank USA offer?
HSBC Direct Savings offers an APY of 2.3% (APY stands for annual percentage yield, rates may change).
This is higher than the typical APY for online-only checking accounts, which is around 1% APY.
What features and perks does HSBC Direct Savings offer?
This account includes the following features:
- Nationwide ATM network - Withdraw money and check your balance from wherever you are.
HSBC Direct Savings Features
|Bank Account Features
- Branch Access
- Fraud Protection
- Interest Bearing Account
- Mobile Banking
- Mobile Check Deposit
- Nationwide ATM Network
- No Monthly Maintenance Fee
What fees does HSBC Direct Savings charge?
HSBC Direct Savings does not charge a monthly maintenance fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $35 fee.
- Incoming domestic bank transfers come with a $15 fee.
- Outoing international bank transfers come with a $35 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Incoming international bank transfers come with a $15 fee.
- HSBC Direct Savings charges a $25 fee for an early account closure. Contact HSBC Direct Savings for more details on what is considered an early closure.
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