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.

HSBC Choice Checking account review

Last updated:  

Get worldwide access with a low opening deposit at a top bank.’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

Monthly fee




Minimum deposit to open


Monthly fee$15 per month
To waive the feeMaintain a direct deposit or $1,500 in total combined balances in U.S. dollar personal deposit and investment accounts
Minimum deposit to open$0
ATMsAccess to HSBC ATMs worldwide, most with no withdrawal fees
ATM transaction fee$0
Out-of-network ATM fee$2.50
Foreign transaction fee3%
Overdraft fee$35
Nonsufficient funds fee$35

Expert review

Peter Carleton

Review by

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.

Expert review

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.

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.

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

Name Product APY ATMs Fee
BBVA Online Checking
No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
A full-service account with convenient, surcharge-free access to two massive ATM networks
Axos Bank Rewards Checking
1.25% on balances of $0+ with $1,000+ in direct deposits, 10 $3+ debit card transactions and 5 additional account transactions per month
ATM fees reimbursed at any ATM nationwide
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
HSBC Advance Checking
0.01% on balances of $5+
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
(can be waived)
Earn 2% cash back on qualifying direct deposits (up to $30 per month and $350 total during the first 12 months) with a new HSBC Advance Checking account. Offer ends March 29, 2020. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
Axos Bank Essential Checking
ATM fees reimbursed at any ATM nationwide
No fees. Unlimited domestic ATM fee reimbursements.
TD Beyond Checking
0.05% on balances of $50,000+
0.03% on balances of $10,000 to $49,999.99
0.01% on balances of $0.01 to $9,999.99
1,900 ATMs across the country and Canada
(can be waived)
A checking account that offers interest plus three ways to waive the monthly fee, two overdraft paybacks a year and no ATM fees with a $2,500 balance.
Chase Sapphire Checking
Free to use anywhere worldwide
(can be waived)
Get a $1000 welcome bonus when you join Sapphire Banking by March 06, 2020. Within 45 days of joining, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts (excludes any J.P. Morgan retirement accounts and CDs), and maintain the balance for at least 90 days.

Compare up to 4 providers

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.

  1. Visit the HSBC website, hover over Banking and click Checking.
  2. Scroll to Choice Checking and click Apply now.
  3. Scroll and click Apply online under How to apply.
  4. Enter your personal information and click Continue.
  5. Enter your address, employment details and other personal information and click Continue.
  6. Verify all information and click Continue.
  7. Choose your account options, fund your account, then Submit your application.

By phone
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

Required information

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:

Frequently asked questions

Checking account ratings

★★★★★ — 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.

Read the full methodology of how we rate checking accounts.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site