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.
Table of Contents
HSBC Premier Checking – $450
- Get a $450 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities.
- Open your new HSBC Premier checking account online by January 5, 2022; and
- Make recurring monthly Qualifying 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.
- You will automatically receive the $450 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It’s that simple.
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.
Discover Online Savings Account – $150 or $200
Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH21 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.
Chase Total Checking® – $225
Chase Bank will give you $225 when you open a Total Checking account and set up direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
HSBC Premier Checking – $450
HSBC has an offer where you can get $450 for eligible new customers who open an HSBC Premier checking account and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months. Click here to learn more about this offer.
Huntington Bank – up to $500
If you are a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin then you could get up to $500 from Huntington Bank for opening a new checking account. There are several checking accounts that qualify but they’re great offers if you live in their geographic region. Click here to learn more about Huntington Bank offers.
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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