Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
finder.com’s rating: 2.8 / 5.0
★★★★★
$25 per month
Monthly fee
0.01%
APY
$0
Minimum deposit to open
| APY | 0.01% on balances of $5+ |
|---|---|
| Monthly fee | $25 per month |
| To waive the fee | Maintain a combined deposit and investment balance of at least $5,000, or have a recurring monthly direct deposit to your account or an HSBC US residential mortgage loan |
| Minimum deposit to open | $0 |
| Intro or bonus offer | Get up to $270 (max. $50 per month) for eligible new customers who open an HSBC Advance checking account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC. |
| ATMs | Surcharge-free HSBC ATMs nationally and internationally, plus up to four rebates a month for using non-HSBC ATMs in all US states except New York |
| ATM transaction fee | $0 |
| ATM fee rebates | Up to four a month for using non-HSBC ATMs in all US states except New York |
| Foreign transaction fee | 3% |
| Overdraft fee | $35 |
| Nonsufficient funds fee | $35 |
Review by
Shannon Terrell is a writer for finder.com who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing to merchant account providers. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
The HSBC Advance Checking account is best for those who know they’ll maintain a high checking account balance. Although it’s interest-bearing, it doesn’t have the highest APY rate for checking accounts.
It offers free checks, four ATM rebates a month and no minimum opening deposit. But to avoid the $25 fee, you’ll need to keep a combined balance of at least $5,000, or have a recurring monthly direct deposit or a residential mortgage loan with HSBC.
HSBC Bank
3% cash back (up to $270) on direct deposits when you open a new account
Get up to $270 (max. $50 per month) for eligible new customers who open an HSBC Advance checking account. Conditions apply. Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
Last verified
HSBC is a traditional financial institution with a variety of banking products available. The Advance Checking account is one of several checking accounts HSBC offers with lots of attractive perks:
The HSBC ATM network covers the US and countries on five continents. Use HSBC ATMs to make cash and check deposits, move money between accounts, check your account balance and even change your ATM or debit card PIN.
Using an HSBC ATM within the US is free, but you may be charged a network fee by ATM operators outside the US. Fees vary by country and service provider.
If you want a higher yield checking account or one with a lower balance requirement, you might want to keep looking. As always, explore your options when choosing a checking account.
You can open an HSBC Advance Checking account in person or online with a minimum deposit of just $0. But to avoid paying the $25 monthly fee, you need to maintain a combined $5,000 balance in deposits and investments, or have a recurring monthly deposit or a residential mortgage loan with HSBC.
After your application is complete, you’ll receive an email from HSBC with an application status update. You may need to submit other documents to verify the information included in your application.
Once verified, you’ll receive your debit card in the mail, with your PIN arriving separately one to three business days after. You can then set up your account by phone or live chat with an HSBC agent.
To be eligible for the HSBC Advance Checking account, you must meet the following criteria:
Have the following information ready before you apply for your account:
In addition to its Advance Checking account, HSBC also offers the following checking options:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.
