HSBC Reviews

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Overall Rating3.8 out of 5
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About HSBC Reviews

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HSBC is a leading global bank with a focus on international services. It offers a range of banking options, including checking and savings accounts, credit cards, personal loans, mortgages and wealth management. HSBC is best for individuals who can maintain a minimum $75,000 balance across all HSBC accounts, receive at least $5,000 in monthly direct deposits or carry an HSBC mortgage of $500,000 or more.

Pros & Cons


  • Global presence for international banking needs
  • Competitive relationship rates
  • Comprehensive online banking platform
  • Robust credit card rewards program


  • Limited branch locations in the U.S.
  • High minimum balance requirements for Premier accounts
  • Premier Checking account required for other accounts

Bottom Line

HSBC USA offers premium banking services with exclusive perks for high-net-worth customers, but you’ll need a Premier Checking account to qualify for other HSBC bank accounts, including savings accounts and CDs.

Featured Reviews

Manchester, Other

Every time I had to contact HSBC they've always done what I've asked them to. Once I reduced my overdraft limit by more than I actually had available by mistake online and I put m...

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São Francisco Do Sul, Other

I WAS a client of HSBC for about eleven years. As an expat this was a great fit. HSBC being an international enterprise made life easy. (Wire transfers, cash machine, in-country b...

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What is HSBC?

HSBC is a multinational financial institution that provides a wide range of financial services to individuals and businesses in over 60 countries. It was founded in 1865 in Hong Kong and Shanghai, and its name stands for The Hongkong and Shanghai Banking Corporation.

HSBC Bank USA is headquartered in New York City and operates over 200 branches across the country, offering a range of banking services including checking and savings accounts, credit cards, personal loans, mortgages and wealth management services.

How does HSBC work?

HSBC USA is known for its Premier banking program, which provides exclusive benefits and services to customers. To qualify for HSBC Premier, you must maintain a minimum balance of $75,000 in combined U.S. personal deposit and investment balances, have a U.S. residential address and meet other eligibility criteria.

Once you qualify for HSBC Premier, you can enjoy benefits such as dedicated relationship managers, preferred rates and pricing, access to exclusive products and services and waived or discounted fees on certain banking transactions.

HSBC is part of the Allpoint ATM network, which gives customers access to over 55,000 ATMs nationwide. All Premier bank accounts also come with up to five ATM rebates per month for non-network machines.

HSBC is a member of the Federal Deposit Insurance Corporation (FDIC), which means that customer deposits are insured up to $250,000 per account. Additionally, HSBC offers online and mobile banking, to make banking more convenient for customers.

HSBC products and services

With HSBC, customers can enjoy the following:

HSBC Premier Checking is a premium checking account designed for customers with high net worth and banking needs. It offers a range of benefits, such as access to global transfers, no foreign transaction fees and up to five non-network ATM rebates per month.

Customers also have access to a dedicated Premier Relationship Manager, exclusive Premier products and services and preferred rates on other HSBC products, including savings accounts and certificates of deposit (CDs).

To qualify for HSBC Premier Checking, customers must maintain a minimum balance of $75,000 in combined U.S. HSBC personal deposit and investment balances, have a recurring direct deposit of at least $5,000 per month or have a U.S. residential mortgage of $500,000 or more.

HSBC’s Premier Savings account is only available to Premier Checking customers. It earns 0.05% annual percentage yield (APY) by default.

However, you can unlock a Premier Relationship APY of 3.65% when you do one of the following each month:

  • Spend $500 with an HSBC debit card
  • Make at least $5,000 in monthly direct deposits
  • Have a U.S. HSBC mortgage with a minimum original amount of $500,000
  • Be an HSBC Premier Elite customer
The HSBC Global Money Account is a digital account that allows customers to hold, manage and exchange multiple currencies in real-time with no currency conversion fees when you send money to an eligible HSBC account.

It also provides access to HSBC's global network for international transfers and ATM withdrawals without transaction fees, and offers a competitive interest rate on balances.

HSBC CDs have terms ranging from six months to two years and competitive rates as high as 4.30% at publishing. However, they’re only available to Premier customers.
HSBC has two credit cards:
  • The Premier card earns 2x the points on travel and comes with a credit for TSA pre-check.
  • The HSBC Elite earns 3x the points on travel and comes with exclusive airport lounge access.
HSBC has several home lending solutions, including mortgages, home equity lines of credit and refinancing. It also has special services for international borrowers wanting to buy a home in the U.S.
HSBC’s wealth management services are designed to help customers manage and grow their wealth through various investment and financial planning strategies. It offers a range of services, including personalized financial planning, investment management and access to a global network of experts.

HSBC fees

HSBC’s Premier Checking account has a $50 monthly fee that’s waived when you meet one of the following:

  • Maintain a minimum $75,000 balance across HSBC accounts
  • Receive at least $5,000 in monthly direct deposits
  • Hold an HSBC mortgage loan for at least $500,000
  • Have Private Bank status

Otherwise, HSBC’s Premier accounts have few fees. For instance, the bank doesn’t charge overdraft fees. It also refunds customers up to five times per month for non-network ATM fees charged by third-party providers.

According to its fee schedule, the main fee to watch out for is $100 for any legal papers related to court orders.


Is HSBC a safe bank to use?

Yes, HSBC is generally considered a safe bank to use. HSBC is an FDIC-insured bank, which means that customer deposits are protected up to $250,000 per depositor, per account category, in case of bank failure. In addition, HSBC employs various security measures, such as encryption and multifactor authentication, to protect customer information and prevent fraud.

Where is HSBC available?

In the U.S., HSBC has a network of branches in major cities like Atlanta, Chicago, New York, San Francisco, Seattle and more. HSBC also offers online and mobile banking services, which allow customers to manage their accounts from anywhere in the world with an internet connection. Globally, HSBC operates in over 60 countries, including the United Kingdom, Canada, Australia and Hong Kong.

How do I apply for an HSBC Premier account?

You can open an HSBC Premier account online. You must be at least 18 years old and have lived in the U.S. for at least a year to open an HSBC Premier account. You’ll need your Social Security number, phone number and U.S. residential address.

Does HSBC use Zelle?

No, HSBC has not partnered with Zelle to allow customers to send and receive money.

Is HSBC legit?

HSBC is a legitimate financial institution with a strong reputation for offering convenient international banking services. It's most known in the U.S. for its Premier products, which provide eligible customers with access to exclusive perks, such as a global network of financial experts and preferred rates on loans and savings products.

Overall, HSBC Premier is a comprehensive wealth management service designed for high-net-worth individuals who value personalized financial solutions and international banking.

HSBC Reviews

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Page 1 Reviews 0 - 10

Reviewed Dec. 16, 2022

If I could give them zero stars I would. I had an issue logging into my account two weeks ago because the battery in my security device has died. After going through all the security questions with customer support they would still not answer questions I had on my account stating that they couldn't verify me even though I had answered multiple questions which no-one else would have the answers to. They had to get someone else to call me back and after going through the whole ridiculous procedure of taking pictures of my driver's license and a selfie I got the answers I was looking for. However, the agent I was speaking with then asked me if I wanted to update my email address and mobile phone number to my account which I did.

I tried to log in again today and I am getting a message telling me that there is no email account or phone number linked to my account! Called customer support again and spent over 20 minutes trying to get answers to my questions and was advised that although the agent I spoke to previously had taken my email address and phone number it was not passed on to the online banking team. So I had to spend another 45 minutes on hold and still did not get through to them. After another more than 10 minutes on hold I hung up and dialed the online banking number directly and was told my wait time was more than 4 mins! I eventually gave up yet again so I still do not have my personal details updated too. my account and will have to go through all of this again next time I have questions on my account. Just ridiculous.

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Reviewed Nov. 19, 2022

Liars and thieves in the Philippines: "Sir you set up account you will receive *** dollars." I deposited over 30 mil pesos and got nothing. I wanted to change my pesos to dollars. "Sir you MUST put your dollars into a 3 month time deposit with ZERO interest for 3 months before you can have your money." OMG. Now I'm in the US. For the last 30 mins I have been trying to change my password. TOO DAMN many codes, too damn many steps.. Before I can change it on my laptop they are requiring me to download their APP and log in to change a simple ** password.. Couldn't figure it out. Got on chat, she was worthless. Now I'm on hold 20 mins and I am a "PREMIER CUSTOMER". 1 hour to change a password..

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    Reviewed Nov. 19, 2022

    To whom it may concern: I moved to Abu Dhabi from the USA, and I needed a bank. So I selected HSBC, which a friend recommended. Since then, I have gone from one disappointment to another. It took them seven business days to send me some means to access my bank accounts, such as a credit card or checks. Now here is the exciting part: When I signed off, they said they would do it if I needed a loan for a car or anything else. And when I subscribed for a car loan after 30 days, I was denied. Their policy requires 12 month's history. I was asking for a fast car loan. Even though the car belonged to them, they did not process it. Even though the car is under warranty, they did not process it. Bottom line, do not trust HSBC: What they say is not what they do. They are not different from other banks (even worst). I do not recommend HSBC. The service is null and they are not transparent with their policy. Regards, Franck

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    Reviewed Nov. 7, 2022

    Absolutely worst experience of opening a bank account I have ever had. It took 1 hr and 50 min to open 2 simple saving accounts! Even though filed an online application and got a reference code, it could not be found in the system, so had to start from scratch. Then bank cards did not work and new ones had to be reissued. The creation of a customer profile takes forever for no apparent reason: the bank associate just endlessly fills out something on the computer without really asking any questions, except the basics of name, IDs, address and employment. Inconceivable why it needs to take so long!

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    Reviewed Oct. 1, 2022

    Living abroad it isn’t easy to open a bank account as an American citizen due to US taxing laws; this was the bank my university suggested/practically insisted we use to “facilitate” our transition to living in France as they told us horror stories about how we couldn’t do xyz without a French bank. I have later learned that this is not true and there are alternatives. Honestly, it has been the biggest regret of my life and I will never step foot in an HSBC branch again. The tellers at my particular branch on Saint Dominique are lovely but this bank has some very strange practices and has no issues locking, restricting, or cancelling your account for anything you do, all without telling you.

    First, they make you sign up for all these codes which take aeons to get to you by mail. The only thing they send you electronically is your account number. There’s a code for buying things online and a code for actually using your card, then a Secure Key for logging into your account on mobile, as if those aren’t enough codes for you to remember lol. Then some other codes to actually change things or look into transactions which last about 31 seconds so god forbid your carrier is slow that day or else you won’t be able to log into areas of your account they consider sensitive. Apparently this is a bank wide policy so no matter where you go in the world, they will do this to you. I guess they have never heard of encryption???

    Oh, and transferring money online will likely get you flagged for “fraud” even if you are moving money between accounts with your name. This happened to me; my account was locked without my knowledge, and they claimed they called me but I never got a call. I thought that was all cleared up but now my card is restricted so I can’t make any purchases or withdrawals over 100 euros for who knows what reason and at this point, I am tired of arguing with them about it as they let me go a month using the card freely before suddenly wanting to refuse transactions.

    Then they limit how much you can spend a month because they sneakily sign you up for some special card that is really designed for teens and you have to wait and beg for them to increase your monthly spending limit since they want to monitor your transactions. And of course when you try to close the account, suddenly they go from ignoring all your emails to begging you to stay and promising things will get better, how sorry they are, the whole nine. There’s also a wire transfer I have to keep an eye on as it was entered incorrectly.

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    Reviewed Sept. 23, 2022

    HSBC is truly the worst inefficient and crooked bank. HSBC should be sued. They will charge fees for everything and freeze your account if you do not use it within 9 months. The way to unfreeze your account is to make fund transfer transaction that will cost money. HSBC does everything to try to steal money from the customer. The online chat representatives cannot resolve anything and will drag the chat on for unnecessary time. Normally takes 1-2 hours on chat to get someone to try to help but in the end they do not help and they will tell you to call or visit the bank.

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    Reviewed April 8, 2022

    I WAS a client of HSBC for about eleven years. As an expat this was a great fit. HSBC being an international enterprise made life easy. (Wire transfers, cash machine, in-country branches, etc.) Smooth sailing with these guys, monthly wire transfers were flawless, customer service was complaints at all. Everything was rolling along fine until they decided to cut US operations and concentrate on higher-end clients. I qualified as one of these clients (75,000 min. balance) when I relocated, but real estate, vehicle, etc... purchases took care of that status. I don't blame them AT ALL. Much more profit to be had in Hong Kong and Mainland China than my minuscule deposits. only regret is that my account got dumped to CITIZENS BANK. How did that go? Well I wrote a little piece about them last night, check it out if you will. Calling that bank a dumpster fire would be disrespectful to dumpster fires. (my opinion)

    I would give HSBC a full SIX stars, maybe seven if not for that hell month with Citizens. I parted ways with Citizens ASAP and after setting things up with BofA, I am sleeping well again. If you live in Hong Kong or can adhere to their minimum balance requirements, I don't think you can go wrong. I miss good old HSBC, and I wish them luck.... No hard feelings. (Well perhaps a few grrrrrs, but nothing that won't pass.)

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    Reviewed Feb. 28, 2022

    Don't Trust HSBC's Promotion! I've been their premier account customer for 20+ years and mostly in Asia. I moved back to BC Canada 8 years ago and the nightmare started. Most of their staff have an attitude that customers are there to serve them so they can have their salaries and job promotions. I thought things were improving last year when I was assigned a new account manager. She was very helpful and I started to move my cash to HSBC from another bank. After deposited a chunk of my saving there, they have a promotion to attract more deposit because people are moving money away due to some stupid act they did in Asia (freezing legit a/c because of political reason (sounds familiar?).

    I talked to my account manager to see if I still qualify. She said it has to be new deposit from another bank and recommend that I use those cash to purchase 1 year GIC. After purchasing the non-redeemable 1 year GIC, I deposited another chunk of my cash from another bank to enjoy the 1.7% rate for 3 months. After 4 months, found out that they are not honoring that rate because they said I bought the GIC which in their terms are considered as withdrawals. Took me many calls and trips to their branch to conclude that they are not honoring it ($1,700) even I haven't done any withdrawal before adding deposits and they didn't even care to ask their staff to inform me.

    They simply ignore my request and it has been 2 months now. I guess under the guidance of Larry Tomei and Andrew Maclellan, customers are only their tools to get raises and promotions. I guess Hong Kong Shanghai Bank has once again becomes a genuine China bank (largest shareholder) if you know what I mean From a retired banker.

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    Reviewed Feb. 14, 2022

    I opened an HSBC expat account due to relocating abroad, thinking that I was upgrading my bank and helping with my new international position. I can't tell you the time wasted and stress caused since we opened the account in July 2021 to now, Feb 2022. From start to finish, they have failed at even the most basic of banking services and my free, UK Co-operative bank was significantly better. I don't even want to waste more of my life detailing the issues, just take my advice, never open an HSBC account for anything. (I'm even on the chat function now as a $6k payment has gone missing and they don't know what's happened to it).

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    Reviewed Jan. 11, 2022

    The Premier account is a scam. It charges 34.95 a month. The Waiver conditions are so high, it is only for rich guys. After 6 years being a Premier checking account, I wanted to remove and down grade to a normal checking account. It was a night mare to get through the right person. After several trials; online chat, phones, I can still not able to do this. waste lots of time, and frustrated. When you call the customer service, people either from India with heavy accent, and you will be asked to call another number which is not a right number either!

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