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HSBC Direct Savings

in Savings Accounts from HSBC Bank USA

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HSBC Direct Savings

Unaffiliated

in Savings Accounts from HSBC Bank USA

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Highlights
Highlights
Monthly Fee $0
APY 2.3%
APY Minimum Balance $1

HSBC Direct Savings Review

Where does HSBC Direct Savings do business?

HSBC Bank USA is based in New York, NY. It was founded in 1865 and offers savings accounts in 50 states (and Washington, DC).

HSBC Direct Savings is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposits in checking accounts, savings accounts, certificates of deposit (CDs), and money market accounts up to $250,000 per depositor if a member institution fails.

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.

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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Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • 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
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

APY Minimum Balance $1
Minimum Initial Deposit $1
Minimum Combined Balance to Avoid Monthly Fee $0
Minimum Direct Deposit to Avoid Monthly Fee $0
Minimum Balance to Avoid Monthly Fee $0
Monthly Fee $0
Paper Statement Fee $0
Bank Teller Fee $0
Early Account Closure $25
Returned Deposit Fee (Domestic) $10
Wire Transfer Fee - Domestic (Outgoing) $35
Wire Transfer Fee - International (Outgoing) $35
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - Domestic (Incoming) $15
Bank Account Features
  • Branch Access
  • Fraud Protection
  • Interest Bearing Account
  • IRAs
  • Mobile Banking
  • Mobile Check Deposit
  • Nationwide ATM Network
  • No Monthly Maintenance Fee
APY 2.3%

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