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HSBC Checking Account Bonus
HSBC has a new promotion that can earn you up to a $475 bonus with a new checking account. The offer is available nationwide and can be done online. Let’s check the details.
Offers
To qualify for the HSBC Premier $475 Welcome Deposit you must:
- open your new HSBC Premier checking account by June 29, 2020; and
- make recurring Direct Deposits totaling at least $5,000 from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening.
To qualify for the HSBC Advance $225 Welcome Deposit you must:
- open your new HSBC Premier checking account by June 29, 2020; and
- make recurring monthly Direct Deposits totaling at least $500 from a third party to your HSBC Advance checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening
Key Terms
- The bonus is available nationwide and accounts can be opened online.
- Customers who held any HSBC consumer deposit or investment account March 29, 2017 through and including March 29, 2020 are not eligible for this offer.
- Advance Checking has a monthly maintenance fee of $25 if minimum balance or recurring direct deposit requirement is not met.
- $5,000 direct deposit
- $10,000 in combined personal deposit and investment balances
- Premier Checking has a monthly maintenance fee of $50 if minimum balance requirement is not maintained.
- $75,000 in combined personal deposit and investment balances OR
- Recurring direct deposits totaling at least $5,000
Conclusion
A decent bonus from HSBC, but we have seen offers for as much as $750 in the past. Also keep in mind that during previous offers it has been reported that HSBC has been somewhat difficult when it comes to paying out the bonuses. And even the account opening process occasionally takes a very long time.
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Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
I will add to your comment that they can also be difficult to get your money out of! I did a bonus with them about two years ago. I contacted them to close the account and they said they would mail the check for my remaining balance. When I deposited the check, my bank notified me that USBC had put a STOP PAYMENT on the check. I called USBC and they said that because the account was closed, all checks from the account were cancelled. It took me many phone calls to get them to understand that the check they out a stop payment on was never cashed by me and it was my money (about $5,000!!). I even had to do a three way call with my bank (Schwab) so they could explain to HSBC what happened when the check was attempted to be cashed.
Lesson of the story: drain your account to zero electronically BEFORE you notify them you are closing it.
I won’t be taking part in this bonus because of that. It will take a lot more money than $475 for me to consider banking with them again.