HSBC Bank: Checking, savings and CDs

Our verdict

HSBC stands out as one of the longest-serving banks in the digital world, with over 170 years of experience. It covers all your checking and savings needs, and we love its competitive CD rates that help you grow your savings.

For those who bank internationally, its accounts work well for transferring money to an international HSBC account. You also get access to international ATMs and its debit card comes with no foreign transaction fees.

But to open an account, you must meet strict eligibility requirements based on criteria like a high minimum balance, direct deposits, debit card purchases or an HSBC mortgage.

Best for: High-net-worth individuals needing international perks.

Is HSBC Bank right for you?

HSBC Bank accounts are best for customers who can keep a high balance in their accounts. To open HSBC’s only personal checking account option, you must meet high deposit requirements like have at least $75,000 total in deposit or investment accounts, at least $5,000 in direct deposits or hold a $500,000+ HSBC mortgage.

HSBC is also best for high-net-worth individuals who need international services and perks.

You get access to HSBC-branded ATMs abroad with no fees and debit cards with $0 foreign transaction fees. Plus, you have the option of opening HSBC Global Money, a multicurrency account that lets you convert money to eight different currencies, and either hold it there or transfer it to your own or another HSBC customer’s account — not to an external bank.

How HSBC Bank stacks up

HSBC is one of the longest-standing banks in the digital world, raising it above newer fintechs that don’t yet have a track record. Its internationally-friendly accounts make it ideal if you travel or make international transactions on the regular, and it’s one of the only banks to offer its own multicurrency account.

However, you have to work for its relationship savings APY, and requirements to open accounts or avoid monthly fees are strict. If you need an account with international perks, you’ll find ones with no minimum balance requirements or monthly fees that still offer competitive interest rates.

HSBC’s personal banking products

HSBC Premier Checking

You’ll get the most out of this account if you travel or make transactions abroad regularly. The account comes with free international ATMs, plus five ATM fee reimbursements per month if you use an out-of-network ATM and incur a fee. HSBC also lets you open accounts in different countries for easy transfers between accounts.

Otherwise, HSBC Premier Checking is a straightforward bank account with a low 0.01% APY and no opening deposit or insufficient funds fees. But to qualify for the Premier Checking account and waive its $50 monthly fee, you must meet one of these criteria:

• At least $100,000 in total deposits and/or investments across consumer or commercial deposit or investment accounts
• Direct deposit at least $5,000 per month into the account
• An HSBC US residential mortgage loan serviced by the bank
• Private Bank status

7 Great

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HSBC Premier Checking

A premium account with HSBC exclusive pricing and discounts, and great for traveling.

• Exclusive access to HSBC relationship rates and discounts.
• Share Premier status with family.
• 0% foreign transaction fee.
• Waivable monthly fee

HSBC Premier Savings

This account is a standard savings account with no monthly maintenance fee or opening deposit to worry about. You’ll earn tiered APYs between 0.01% and 0.15% — not competitive compared to the market. Because of its basic features, this account works best if you need a place to tuck away extra money but don’t qualify for HSBC’s relationship savings account.

HSBC Premier Relationship Savings

This account offers a competitive APY up to 3.45% — if you qualify. You’ll need to open a Premier checking account first. Then, meet any one of these criteria each month to earn the highest APY:

• $500 in debit card purchases
• $5,000 in direct deposits
• $500,000 in an HSBC mortgage
• HSBC Premier Elite customer

The account is worth opening if you know you’ll meet these qualifications. Otherwise, you’re better off opening a high-yield savings account with fewer requirements to earn interest.

HSBC certificates of deposit

HSBC offers some of the most competitive CD rates we’ve seen, up to 3.75% with its highest term length. However, HSBC only offers six-, 12- and 24-month terms. Other banks offer a wide range of terms up to 60 months.

Other products

• Credit cards. Qualify for the HSBC Elite or Premier credit cards, which offer cash back for international brands.
• Insurance. Protect yourself with insurance products for auto, life, long-term care planning and homes worth under $1 million.
• Investments. HSBC offers investment portfolios for different needs from planning for education and retirement to helping you open a self-directed brokerage account.
• Mortgages. Buy or refinance your home or tap into your home’s equity to fund your goals.
• Personal loans. Get a personal loan and use its online banking to pay and keep tabs on your loan.

Compare HSBC with leading bank accounts

Compare accounts by monthly fee, opening deposit and APY. Select Compare to see up to four accounts side-by-side.

• Checking
• Savings
• CDs

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5 of 18 results

Finder Score	Fee	Minimum deposit to open	Annual Percentage Yield (APY)	Rebate
Promoted Finder score 9 Excellent SoFi Checking and Savings	Finder score 9 Excellent	$0 per month	$0	Up to 3.60%	Earn up to 4.30% APY on savings and $50 or $300 with direct deposit. Open a new SoFi Checking and Savings account by 31 January 2026, set up eligible direct deposit within 60 days, and maintain direct deposit for six months. T&Cs apply.		Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.6 Excellent OnePay Cash	Finder score 9.6 Excellent	$0 per month	$0	3.35% on balances of $5,000 to $250,000 1.00% on balances of $0 to $4,999 1.00% on balances of $250,001+	For a limited time, earn 10% cash back at Walmart on your first purchase made within your first month, on up to $200 spent. T&Cs apply.		Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.2 Excellent NBKC Everything Account	Finder score 9.2 Excellent	$0 per month	$0	1.75% on balances of $0.01+		Go to site More info Compare product selection Compare	loading
Finder score 7 Great HSBC Premier Checking	Finder score 7 Great	$50 per month (can be waived)	$0	0.01% on balances of $5+	Earn up to $3,500 by opening the HSBC Premier account with three different bonus offers after completing qualifying activities by December 31, 2025, and maintain the New Deposits through March 31, 2026. T&Cs apply.		Go to site More info Compare product selection Compare	loading
Finder score 8.6 Great Step Black Card	Finder score 8.6 Great	From $0 per month	$0	4.00% on balances of $0 to $1,000,000		Go to site More info Compare product selection Compare	loading

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What is the Finder Score?

The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.

To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.

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6 of 21 results

Finder Score	Account type	Annual Percentage Yield (APY)	FDIC or NCUA insured amount	Minimum balance to earn APY	Minimum deposit to open	Rebate
Promoted Finder score 8.6 Great Synchrony High Yield Savings	Finder score 8.6 Great	Traditional savings,Custodial account	3.65%	Up to $250,000	$0	$0		Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.2 Excellent Public High-Yield Cash Account	Finder score 9.2 Excellent	Cash management account	3.60%	Up to $250,000	$0	$0		Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.4 Excellent Wealthfront Cash Account	Finder score 9.4 Excellent	Cash management account	3.50%	Up to $8M FDIC insurance	$1	$1	New clients earn 4.15% APY. Boost your APY from 3.50% to 4.15% APY for 3 months when you open and fund a Cash Account. T&Cs apply.		Go to site More info Compare product selection Compare	loading
Finder score 9.2 Excellent SoFi Checking and Savings	Finder score 9.2 Excellent	Traditional savings,Checking	Up to 3.60%	Up to $250,000	$0	$0	Earn up to 4.30% APY on savings and $50 or $300 with direct deposit. Open a new SoFi Checking and Savings account by 31 January 2026, set up eligible direct deposit within 60 days, and maintain direct deposit for six months. T&Cs apply.		Go to site More info Compare product selection Compare	loading
Finder score 8.6 Great Alliant High-Rate Savings	Finder score 8.6 Great	Savings app	3.10%	Up to $250,000 by the NCUA	$100	$5	$5 opening deposit is paid for you. T&Cs apply.		Go to site More info Compare product selection Compare	loading
Finder score 9.6 Excellent Discover® Online Savings Account	Finder score 9.6 Excellent	Traditional savings,Custodial account	3.40%	Up to $250,000	$0	$0		Continue More info Compare product selection Compare	loading

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How we picked these

What is the Finder Score?

The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.

To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.

Read the full breakdown

6 of 8 results

Finder Score	6-month APY	1-year APY	5-year APY	Minimum deposit to open
Finder score 9.4 Excellent Patriot Bank 3M CD	Finder score 9.4 Excellent	N/A	N/A	N/A	$1	Up to $1,000 bonus for new customers with qualifying deposits using promo code EASY. T&Cs apply.	Go to site More info Compare product selection Compare	loading
Finder score 9.6 Excellent Alliant Credit Union Certificates	Finder score 9.6 Excellent	4.10%	4.10%	3.65%	$1,000	Go to site More info Compare product selection Compare	loading
Finder score 10 Excellent Quontic Bank CDs	Finder score 10 Excellent	3.75%	3.00%	3.00%	$500	Go to site More info Compare product selection Compare	loading
Finder score 10 Excellent Valley Direct Online CD	Finder score 10 Excellent	N/A	4.00%	N/A	$500	Go to site More info Compare product selection Compare	loading
Finder score 9.6 Excellent Bask Bank CDs	Finder score 9.6 Excellent	3.95%	3.85%	N/A	$1,000	Go to site More info Compare product selection Compare	loading
Finder score 7.6 Great Discover® CDs	Finder score 7.6 Great	3.50%	4.05%	3.50%	$0	Continue More info Compare product selection Compare	loading

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How we picked these

What is the Finder Score?

The Finder Score analyzes hundreds of CDs from more than 100 institutions. It takes into account the product's interest rate for available terms and opening deposit requirements - this gives you a simple score out of 10.

Different banks and credit unions offer CDs for various lengths of time, ranging from as short as seven days to as long as 20 years. For our ratings, we consider the term lengths that the FDIC uses in its monthly updates on national rates.

If a bank or credit union doesn’t offer a CD for a specific term used by the FDIC, we don’t penalize it: Instead, we simply don’t rate it. Each of the standard term lengths has its own APY rating based on the FDIC’s average rates.

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Customer service experience

HSBC has been around for over 170 years, lending it stability and credibility in the banking world compared to other online-focused banks. HSBC holds a B rating with the Better Business Bureau due to unresolved complaints filed against it. It also sees an influx of negative reviews on Trustpilot.

Complaints center on unexpectedly frozen bank accounts that can lead to financial repercussions like added charges, or ineffective customer service when disputing a transaction. Some complaints report unknowledgeable customer support.

However, happy customers talk about solid experiences with specific bankers. Others enjoy easy transfers among their HSBC accounts in different countries.

Written by

Sarah George

Writer

Sarah George is Staff Writer for Small Business Loans at BankRate and formally a personal finance writer at Finder focusing on all things banking and insurance. Her know-how has been featured in such publications as CBS, CNET and Reviews.com, and she was a panelist in Finder’s 2020 money-saving webinar. Sarah earned an English education degree and is a Certified Educator in Personal Finance. See full bio

Sarah's expertise

Sarah has written 23 Finder guides across topics including:

• Car, motorcycle, home and life insurance
• Insurance for specific car models
• Analysis of industry reports
• Insurance policy comparison