HSBC Bank Welcome Promotions: $200, $350, $600 for New HSBC Checking Accounts

Get this and a few hundred bucks!

HSBC Bank is one of the world’s largest banks and now they’re offering one of the largest bonuses as a welcome deposit.

It’s becoming increasingly popular for banks to offer large bonuses if you open a new checking account, deposit new money, and satisfy a few other conditions. HSBC is getting into the game and the welcome bonus depends a lot on the account you open, the amount you’re able to deposit, and whether or not you can satisfy the other conditions.

If you’re in the mood to learn about some bonuses, I’m in the mood to share them with you!

We will update this page with the latest welcome promotions as they are refreshed.

HSBC Advance Checking – $240

Get up to $240 with a 3% Cash Bonus Checking Offer when you open a new HSBC Advance checking account and complete the following qualifying activities.

Open your new HSBC Advance checking account online by March 31, 2021; and

Set up Qualifying Direct Deposits into your new HSBC Advance checking account; and then

Enjoy 3% Cash Bonus, up to $240, on Qualifying Direct Deposits up to $40 per month, during the first 6 calendar months after account opening

You will automatically receive the 3% Cash Bonus in your new HSBC Advance checking account approximately eight weeks after completing that month’s qualifying activities.

Learn more about this promotion

HSBC Premier Checking – $600

Get up to $600 with a 3% Cash Bonus Checking Offer when you open a new HSBC Premier checking account and complete the following qualifying activities.

Open your new HSBC Premier checking account online by March 31, 2021; and

Set up Qualifying Direct Deposits into your new HSBC Premier checking account; and then

Enjoy 3% Cash Bonus, up to $600, on Qualifying Direct Deposits up to $100 per month, during the first 6 calendar months after account opening

You will automatically receive the 3% Cash Bonus in your new HSBC Premier checking account approximately eight weeks after completing that month’s qualifying activities.

Learn more about this promotion

Definition of Key Terms

There are a few terms and conditions of this offer. First, you must be 18 years of age, have a Social Security number, a U.S. residential address and had U.S. residency for the past three years.

Next, New Money is defined as deposits “not previously held at any member of the HSBC Group in the U.S. You also need to keep those funds in your account and keep that account in good standing until the gift fulfillment. One gift per customer, including all individual and joint accounts (the first line name is what counts on joint accounts).

Finally, there are monthly maintenance fees on all of these accounts. You can avoid them by maintaining certain balances or meeting other conditions:

  • HSBC Advance Checking Account: A $25 monthly maintenance fee if you do not maintain a combined U.S. personal deposit and investment balance of $10,000+ or $5,000+ and maintain a recurring direct deposit from a third party at least once per monthly cycle.
  • HSBC Premier Checking Account: A $50 monthly maintenance fee if you do not maintain a combined U.S. personal deposit and investment balance of $75,000+.

The terms are pretty straightforward, nothing stands out as being particularly onerous.

How Does This Compare?

HSBC Bank offers some of the richest bank promotions and the monthly balance requirements are in line with similar offers. The highest bonus, $600, is on their Premier Checking product which requires a very high balance – a tall order but it comes with one of the biggest bonuses I’ve seen.

By comparison, the Chase promotion looks almost pedestrian! The appeal of the Chase bonus is that you can get the Total Checking and the Savings for a total bonus of $350.

Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
The information, including rates and fees, presented in the review is accurate as of the date of the review. Please refer to issuer website and application for the most current information.
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Jim Wang

About Jim Wang

Jim Wang is a thirty-something father of three who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and a farm in Illinois via AcreTrader.

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