HSBC Bank Welcome Promotions: up to $4,000 for New Checking Account

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.

Table of Contents
  1. HSBC Premier Checking – up to $4,000
  2. Definition of Key Terms
  3. How Does This Compare?

HSBC Premier Checking – up to $4,000

New customers may earn up to $4,000 when they open an eligible HSBC Premier checking account from January 8, 2024 through March 27, 2024 (“”Offer Period””) and complete qualifying activities

  • Receive a cash bonus of $1,500 when you deposit or invest $100,000 – $199,999.99
  • Receive a cash bonus of $2,000 when you deposit or invest $200,000 – $299,999.99
  • Receive a cash bonus of $2,500 when you deposit or invest $300,000 – 499,999.99
  • Receive a cash bonus of $3,500 when you deposit or invest $500,000+
  • Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months

Each requirement must be met in order to qualify for Cash Bonus:

  • Open a new HSBC Premier checking account (“New Account”) during the Offer Period AND
  • Meet a Qualifying Balance of $100,000 or more of New Money in deposit and/or eligible investment accounts within 20 calendar days of opening the New Account AND
  • Maintain the required Qualifying Balance for 3 full consecutive calendar months following the New Account opening month

If all offer requirements are met, the Cash Bonus will be deposited into the New Account within 8 weeks from the date the New Account is fully qualified. Any payments may be subject to tax and will be reported to the Internal Revenue Service as required by applicable law.

To qualify for an Extra Cash Bonus of $500, new customers must:

  • Meet all the requirements for the Cash Bonus AND
  • During the Offer Period, begin receiving Qualifying Direct Deposits totaling at least $5,000 per calendar month into the New Account on which the New Customer is “primary”; AND
  • Maintain the recurring Qualifying Direct Deposits for 3 full consecutive calendar months. The date of the first Qualifying Direct Deposit posted to the New Account starts the count of 3 full consecutive calendar months

If all offer requirements are met, the Extra Cash Bonus will be deposited into the New Account within 8 weeks from the date the New Account is fully qualified for the Extra Cash Bonus. Any payments may be subject to tax and will be reported to the Internal Revenue Service as required by applicable law.

For full details, visit us.hsbc.com/premier offer

Annual Percentage Yield (APY): 0.01% as of 1/8/2024

Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

Learn more about this promotion

(Offer expires 3/27/2024)

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.

BMO Relationship Checking – $400

BMO Bank is offering a $400 bonus* when you open a BMO Relationship Checking and when you have at least $7,500 in qualifying direct deposits within the first 90 days. It is a very straightforward offer that is available nationwide.

*Conditions apply

👉 Click here to learn more


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 WH124 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.

👉 Click here to learn more


Bank of America – $200 Bonus Offer

Bank of America offers a $200 Bonus Offer cash bonus if you open a new account and Set up and receive qualifying direct deposits totaling $2,000 or more into that account within 90 days of account opening. It has a monthly fee that is easy to have waived.

👉 Click here to learn more


Chase Total Checking® – $300

Chase Bank will give you $300 when you open a Total Checking account and set up and receive direct deposits totaling $500 or more 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!

👉 Click here to learn more


HSBC Premier Checking – up to $4,000

HSBC has an offer where you can get up to $4,000 for eligible new customers who open an HSBC Premier checking account, make a sizable deposit, and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months.

👉 Click here to learn more

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.
We may be paid for the content on this site.

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About Jim Wang

Jim Wang is a forty-something father of four 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 farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

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About the comments on this site:

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

  1. DNN says

    They used to have an affiliate program on CJ that paid pretty good. It was under the Beneficial bank brand.

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