HSBC Choice Checking account review
Get worldwide access with a low opening deposit at a top bank.
Most checking accounts can store your money for transactions without many other benefits. The HSBC Choice Checking account, however, is a gateway to everything HSBC has to offer, like a global ATM network and personal line of credit.
$15 per month
Minimum deposit to open
|Monthly fee||$15 per month|
|To waive the fee||Maintain a direct deposit or $1,500 in total combined balances in U.S. dollar personal deposit and investment accounts|
|Minimum deposit to open||$0|
|ATMs||Access to HSBC ATMs worldwide, most with no withdrawal fees|
|ATM transaction fee||$0|
|Out-of-network ATM fee||$2.50|
|Foreign transaction fee||3%|
|Nonsufficient funds fee||$35|
What are the benefits of the HSBC Choice Checking account?
This FDIC-insured checking account comes with a suite of benefits and useful features:
- Global ATM network. HSBC has ATMs all over the world, giving you easy access to your cash when you need it.
- Select credit. Use a personal line of credit to borrow money or for overdraft protection.
- Easy access. Online and mobile banking help you manage your money 24/7.
- Referral program. ExcluChoose from a basic PNC Virtual Wallet, the Virtual Wallet with Performance Spend, the Virtual Wallet with Performance Select and the Virtual Wallet Student.
- Low opening deposit. Get your account going with an initial deposit of $0 at a bank or $1 online.
HSBC ATM network and fees
This account comes with a HSBC debit Mastercard, allowing you to make purchases almost anywhere. You’ll have fee-free access to HSBC ATMs all over North America, but you face fees at out-of-network ATMs:
|Domestic ATM fee.||$2.50 each withdrawal, transfer or inquiry — plus fees from the ATM owner.|
|Foreign ATM fee.||$2.50 plus 3% of each withdrawal — plus fees from the ATM owner.|
What should I look out for?
- Monthly fee. Avoid the $15 monthly service fee by setting up a monthly direct deposit or maintaining at least $1,500 in total combined balances in personal deposit accounts and investments.
- High fees. Watch out for a $35 insufficient funds fee, $35 unavailable funds fee and $25 fee for closing an account within 180 days of opening.
- Limited availability. HSBC supports branches in California, Connecticut, Delaware, Florida, Maryland, New Jersey, New York, Virginia, Washington and Washington DC.
Compare with other checking accounts
How much do I need to open an account?
You can open this account with $0 if you visit a representative or $1 if you apply for the account online.
How do I apply?
You can open this account online, by phone or at your local HSBC branch.
- Visit the HSBC website, hover over Banking and click Checking.
- Scroll to Choice Checking and click Apply now.
- Scroll and click Apply online under How to apply.
- Enter your personal information and click Continue.
- Enter your address, employment details and other personal information and click Continue.
- Verify all information and click Continue.
- Choose your account options, fund your account, then Submit your application.
Call 800-975-4722 to speak with a customer service representative.
At a branch
Make an appointment or visit your local branch to get started.
You’ll need to meet basic eligibility requirements before you can open this account:
- At least 18 years old
- Valid Social Security number or tax ID
- Valid state-issued ID
- Social Security number
- Valid US address
When you apply for the account, you’ll submit personal information that includes:
- Name and date of birth
- Mailing address
- Social Security or tax ID number
- Driver’s license or other state-issued ID
- Contact information
- Employment information
What other checking options does HSBC offer?
Explore other HSBC accounts in the bank’s checking suite:
- HSBC Basic Banking. A simple, no-frills checking account with limited features but a lower monthly fee.
- HSBC Premier Checking. A full-service checking account with personal support, international services and more at $50 monthly.
- HSBC Advance Checking. A versatile checking account with priority service and emergency financial support at HSBC locations around the world.
The Choice Checking account is a step up from HSBC’s no-frills Basic Checking and offers a gateway to everything else HSBC has to offer. It provides access to a global ATM network and has a low initial deposit, just watch for the high monthly fee.
As always, compare your checking account options to find the benefits that best meet your financial needs.