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HSBC

HSBC
Overall Satisfaction Rating 1.12/5
  • 5 stars
    0
  • 4 stars
    0
  • 3 stars
    1
  • 2 stars
    1
  • 1 stars
    41
Based on 43 ratings submitted in the last year
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BOTTOM LINE

HSBC offers new customers cash bonuses. Some accounts come with high maintenance fees, but HSBC might be a good fit for consumers looking for an online savings account with a global bank.

PROS

  • No ATM withdrawal fees
  • Overdraft protection
  • New customer cash bonuses

CONS

  • High account maintenance fees

Top HSBC Reviews We Found

Rated with 1 star
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Verified Reviewer

I have had bad experience after bad experience with HSBC. Long wait times, unhelpful staff, and minimal information from the company …

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Rated with 2 stars
Verified Reviewer

I visited their location in Bronx, NY… The teller was very rude and refused to assist me in making a deposit and the loan officer wasn't helpful either.

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    Are you this business?

    What is HSBC Bank?

    HSBC is a British investment banking company. HSBC offers four types of HSBC checking accounts, including basic and premier tiers. Entrepreneurs that choose HSBC business banking have access to a variety of business solutions, including bank accounts, lending and insurance. Account holders can also utilize HSBC online banking, which includes a mobile app to review statements, deposit checks, transfer funds and pay bills.

    HSBC Bank products

    HSBC offers a range of bank products and services, including savings, checking, certificates of deposit, debit cards and credit cards. Benefits, fees and eligibility vary depending on a variety of factors.

    HSBC savings account
    HSBC offers a three-tiered savings program that ranges from a basic account to a premier account. The HSBC premier savings is an FDIC-insured exclusive account that offers higher rates as the account grows. HSBC premier's benefits include complimentary bill pay, bank-to-bank transfers and comprehensive global banking and investment solutions.
    HSBC checking account
    Consumers can choose between four checking account types that provide international access to ATMs, optional overdraft protection and mobile banking. Eligible new customers can receive a cash welcome offer when they set up HSBC direct deposit and meet certain requirements.
    HSBC certificates of deposit
    HSBC Bank’s certificates of deposit (CD) are secure and convenient. Each account is backed by HSBC’s $0 Liability Online Guarantee and accessible through the bank’s easy-to-use online infrastructure. HSBC’s CD rates start around 0.75% annual percentage yield (APY) and are available in six-, twelve- and 24-month terms.
    HSBC debit cards
    HSBC’s debit card is a chip card with encryption technology that provides 24-hour ATM access, worldwide acceptance and personal internet banking. Currently, HSBC’s debit card withdrawal limit is around $17,000.
    HSBC credit cards
    HSBC offers more than seven card types for a variety of lifestyles. The cards feature rewards programs, cash back bonuses, travel benefits, low introductory APRs and contactless payment features. Consumers who have received HSBC credit card offers can apply online and determine their eligibility without impacting their credit score.

    HSBC Bank fees

    Depending on the type of account, HSBC monthly maintenance fees range from $3 to $50 per month. The bank waives the monthly fee for customers who maintain a specific balance, but its basic banking option incurs a $3 monthly fee regardless of the balance kept in the account.

    Account holders who have a minimum balance of $75,000 or have recurrent direct deposits totaling at least $5,000 per month do not have to pay an account fee on a premier checking account. If an account requirement is not met, the bank charges a monthly maintenance fee of $50.00.

    Overdraft fee amounts vary for HSBC account holders. Though its an uncommon practice, HSBC Bank offers an overdraft protection program using a line of credit to help its account holders avoid overdraft fees.

    Additional fees are assessed for completing wire transfers ($10 to $50 per transaction) and closing an account ($25).

    HSBC Bank FAQ

    What does HSBC stand for?
    HSBC is an initialism for Hongkong and Shanghai Banking Corporation.
    What do you need to open an HSBC Bank account?
    To open an HSBC Bank account, you must be at least 18 and have a current U.S. residential address, Social Security number and funds for the new account.
    Where are HSBC Banks located?
    In the United States, HSBC Bank has branches and offices in major metropolitan cities like New York, Los Angeles, Chicago, Atlanta, Houston, Washington, D.C., and San Francisco. Worldwide, HSBC Bank serves more than 40 million customers across a network of 65 countries and territories in Europe, Asia, the Middle East, Africa and North and South America.

    Is HSBC a good bank?

    HSBC has numerous branches across the globe, in-depth online banking services and a worldwide presence. It offers a variety of banking products, including traditional banking and investment services. The majority of account holders can benefit from HSBC’s range of financial offerings.

    HSBC Reviews

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    Page 1 Reviews 0 - 10
    Rated with 2 stars
    Verified Reviewer
    Original review: May 29, 2020

    We did 2 international transactions, 1 within 2 HSBC accounts. They both took more than 3 months to complete, not something you want in online banking. Eventually, I had to make the transfer at a physical bank. The online banking platform, at least in Indonesia, is not very user friendly and contains hiccups. It's not possible to search for a specific transaction in your e-statements so you have to sift through all transactions that month. Additionally, when looking back at e-statements, after opening 4 statements, I only get pop-ups with gibberish. This continues after signing out and in again.

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    Rated with 1 star
    Verified Reviewer
    Original review: May 12, 2020

    6 months after opening a new account and meeting all criteria for a bonus offer of $750, they said I didn't use the correct promotional landing page originally. #deceptivepractice, #falseadvertising I even confirmed that I met the criteria throughout the waiting period, and did direct deposits and kept minimum balance, etc. No way I can prove the landing page I used 6 months prior.

    5 people found this review helpful

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      Rated with 1 star
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      Verified Reviewer
      Original review: March 20, 2020

      Their website was not working for me for most of today and so I called them on the phone. The quality of the voice was so bad that I could barely understand them. These are very simple things and if you can't make those work reliably then I'm afraid you need new people in charge.

      9 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: March 16, 2020

      I have opened a Premier account with the HSBC France. After going through whole bunch of document verification's I have received a letter of confirmation from the account opening department regarding my online banking secret code and user name which will be mailed in 15 days and my bank manager will be contacting with me as a new premier customer to discuss the banking information etc. BOY A BOY! No online banking login information and no call from the bank manager!

      I kept sending messages to the email address provided me which supposedly belongs to my manager. Responses all the times were waiting patiently! Waited for a month! Nothing! Then I called the premier customer phone number and told to the operator regarding my online banking login information which I have been waiting for a month. Guess what? Operator set it out in 10 minutes!

      My dear bank relationship manager why the hell you did not tell me this before? I have never get REAL answers to my questions. Simple questions like I want to convert 200 Euros into US dollars. I could not manage this for 10 days or more and still waiting. HSBC France online banking does not allow to do your own banking at all. Like I do not know what is my daily transfer limit?

      Then my banking manager. He is really someone I believe who does not like dealing with foreign customers. There are a lot more like being kicked out of the premier phone line, kept online for 10 or more minutes for a simple answer, get offended right away by the operator. So this bank is a disaster. I want to withdraw my money but still waiting for an answer. My money is stuck with the HSBC France. I write complaint letters to HSBC France with no response at all. Beware!

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      19 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 13, 2020

      I waited for 3 hours in the bank to cancel my account. When it finally was my turn they refused to cancel my account despite me having all the documents needed to cancel. When I asked them to show me where in the contract it says I'm not allowed to cancel my account and what documents were missing I was told it was my problem to figure it out. Horrible service and horrible attitude overall. Avoid doing business with them!

      16 people found this review helpful
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      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 20, 2020

      I paid off my debt on September 2019 and close account as request. They told me it is close, but month later they set the bill with the charge. I call back and they said it's the interest charge. I paid it and they still send the bill on the month after. I came to HSBC bank branch. After while they said it's close and ok. Month later they keep sending bill to me. That's a scam bank and people work in there not nice either. Get away with this. Also I figure out this bank come from Hongkong. Id that the way as Chinese try to cheat us? I will file complaint to US government to see what happen.

      19 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Feb. 1, 2020

      Every time I call customer service I get someone in India. I can't understand them as they talk too fast and English is not their first language. Looking online to make a complaint, there are telephone numbers listed (someone else said they are not operational) but no place to email. Eventually I found a link called 'Customer Feedback'. Clicking on that I was then routed to a page on Questions and Answers. I am just going to stop using the card. Save yourself the hassle and don't respond to their many snail mail solicitations for a 'Preapproved" credit card.

      16 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 28, 2020

      I opened a CD for 10,000 dollars on Jan. 9 2019. Closed the account 1 year later. They were suppose to Fed Ex my check and receive it in 8 to 10 days. After 12 days I called HSBC bank. They informed me that I would receive the check on Jan. 28. It never arrive. I again called HSBC bank. It was never sent. Now I received a tracking number. I called fed it to verify and it has not been picked up yet. If fed ex picks it up today, I will receive it on Jan. 30. Should I hold my breath???

      12 people found this review helpful
      Rated with 3 stars
      Verified Reviewer
      Original review: Jan. 14, 2020

      Did not notice an opportunity to establish a "payable on death" account when opening the "HSBC Direct Savings account." Called HSBC and was told it is not available with that account. They suggested going to a local branch to see if they'll let me open another HSBC account. The reps thought was they might then let me extend the payable on death to the online account. That sounds dubious. HSBC also takes 3 business days to transfer money to another bank. One of my banks takes one business day.

      6 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Jan. 9, 2020

      HSBC offers extravagant incentives to open an account and then just jerks you around and doesn't pay. TOTAL waste of many hours of my life and the customer service is AWFUL. They will take your money and not live up to their end of the offer. STAY AWAY and don't waste your time!

      20 people found this review helpful
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      HSBC Company Information

      Company Name:
      HSBC
      Website:
      www.us.hsbc.com