HSBC Choice Checking account review
Get worldwide access with a low opening deposit at a top bank.
finder.com’s rating: 3.2 / 5.0
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
|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|
Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
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 make sure you’re in the HSBC service footprint before you dive in too much further. And be sure to watch out for the high monthly maintenance fee.
How do I open a HSBC Choice Checking account?
You can open this account online, by phone or at your local HSBC branch.
- Go to the provider’s site and follow the steps to apply.
- From 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.
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.
- 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.
Monthly fee or minimum balance to avoid it too high? Whatever the case is, you can compare your checking account options to find the benefits that best meet your financial needs.
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.
Frequently asked questions
Checking account ratings
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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.