HSBC Bank Welcome Promotions: $200, $350, $750 for New HSBC Checking Accounts

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 – $350

Get $350 when you open an Advance checking account, fund account with at least $5,000 in New Money in combined checking and savings accounts within 30 calendar days of account opening and maintain balance for 90 days AND set-up monthly direct deposits from a third party into the checking account for 3 consecutive months

Open your new HSBC Advance checking account online by July 31, 2019; and

Deposit a minimum Qualifying Balance of $5,000 or more in New Money in combined checking and savings accounts within 30 calendar days of account opening; and

Maintain at least the minimum Qualifying Balance for 90 calendar days from the date you deposited the minimum Qualifying Balance.

You will automatically receive the $350 Welcome Deposit in your new HSBC Advance checking account approximately eight weeks after completing all qualifying activities. It's that simple.

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HSBC Premier Checking – $750

Get $750 when you open a Premier checking account and make recurring Direct Deposits totaling at least $5,000 from a third party per calendar month for 3 consecutive months from the first full calendar month after account opening

Open your new HSBC Premier checking account online by July 31, 2019; and

Deposit a minimum Qualifying Balance of $75,000 or more in New Money in combined checking, savings, and/or eligible investment accounts within 30 calendar days of account opening; and

Maintain at least the minimum Qualifying Balance for 90 calendar days from the date you deposited the minimum Qualifying Balance.

You will automatically receive the $750 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It's that simple.

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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, $750, 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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