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HSBC

HSBC
Overall Satisfaction Rating 3.77/5
  • 5 stars
    169
  • 4 stars
    226
  • 3 stars
    128
  • 2 stars
    51
  • 1 stars
    34
Based on 608 ratings submitted in the last year

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

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

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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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    How do I know I can trust these reviews about HSBC?
    How do I know I can trust these reviews about HSBC?
    • 3,148,596 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.

    For more information about reviews on ConsumerAffairs.com please visit our FAQ.

    Page 1 Reviews 0 - 10
    Rated with 1 star
    Verified Reviewer
    Original review: May 7, 2021

    I called to HSBC with a request to check if I am eligible for a new checking account promotion since I already had CD some time ago. I spoke with four different HSBC representatives and no one could understand my question. It turned out that I was rerouted from Philippines to India, and From India to somewhere else but not USA branch. Each time I asked for a manager, I was rerouted to anyone else but NOT to the manager. All out of State reps kept asking me different questions not related to my main question. I am wondering how the business is done if reps don't understand what they are doing.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 4, 2021

    Worst bank to do business with. Staff is unfriendly and dismissive of any issues that arise with your account. The bank acts with impunity when it comes to its actions and they will not respond or provide you with explanations when confronted. If you have the opportunity to bank with someone else, do so, it will save you headache and frustration. The bank doesn’t work with Zelle or Plaid so it makes linking your account very difficult. Forrest Hill, the VP is especially unhelpful and never returns calls or offers any real help. The customer service is routed to India and the people you speak to have no real desire to help you out. Calls regular get disconnected and you will never receive a call back. The customer service representative Rachel ** should not even have a job. She was supposed to be my point of contact but never returned any of my calls or emails. Overall, worst experience I have ever had with a bank.

    Be the first one to find this review helpful

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      Rated with 1 star
      Verified Reviewer
      Original review: April 23, 2021

      Awful experience with HSBC, who have moved all their communications to call centers to save themselves money at the cost of their customers. I have been trying to talk to someone about a fraud case for two weeks. I've spoken to people who don't understand the situation, have given me the wrong information, are unable to send an emails, repeatedly forward me to another team. Had someone panic and shut down my account then accidentally hang up. Have been told I'll be called within 15 days and then after 15 days been told they're unable to give an estimate for when I'll be contacted. Have been asked 'so? what do you want us to do about it?' on several occasions trying to report data theft. All direct questions get answered with irrelevant information to try to divert away from the question.

      I have been told my best option is to file a complain and wait 8 weeks for a response, and if I don't get a response... then there's nothing I can do.

      Be the first one to find this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: March 4, 2021

      This lender marketed a number of third party services and I got stuck with a home warranty company that refused to honor the terms of the warranty. When I contacted the mortgage lender for their assistance, not only did they nor provide assistance, they would not even respond to my letters.

      Be the first one to find this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Feb. 8, 2021

      HSBC were so poor it beggars belief. My former wife, (current GF) who works for a top 10 publicly listed ASX company got a loan pre approval. It all went smoothly. I decided to also look at an investment home loan through HSBC. I offered cover (including the investment home) at over 9x. I gave them my salary details, but b/c I work for a family business I was treated differently. I gave a 19 tax return and a 2020 tax return showing a pre tax salary of 25% of what I was seeking to loan. As I am a director of 4 companies (3 of which no longer trade and I have a trust), I was treated with serious distrust. So 9x plus cover as security and they won't lend to me b/c I work for a family business.

      My 2018 tax return isn't great, but I was raising my child (seems I have been discriminated as a man who did this), but 2019 & 2020 are significant % of the loan. I provided accountant letters that company's didn't trade. There's one small debt, company to Trust.. that's it. Anyway, I essentially laugh at them, after weeks of politeness and jumping thru all their hoops and say, "So you'll give my wife a combined loan of approx 8.5x her pre tax salary and she has about 35% cover.. I am seeking 4 x 2020 salary, can and will offer you NINE, closer to 10x security cover," and I get a no.. Then oddly after pre approving my wife, they told her the bank isn't prepared to lend to her. Can you believe this.. She has a great job at one of the safest companies in Australia. HSBC have wasted both our time and efforts. I wouldn't waste your time with HSBC. Heads up.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 17, 2020

      Very slow. Super unfriendly staff. Useless information. The staff are rude or not capable to help you. All of them give the same reaction. Not interested to help you.

      If you say something they do nothing at all.

      5 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 5, 2020

      Well, I am Manu from India, after looking on Wikipedia that HSBC is one of the finest bank in the world and checked if their services are available in India or not. And I found their services in India and after checking their website www.hsbc.co.in in India I finally found that they are offering a banking services in India. Even a zero balance bank account is available... I found a branch and visit the branch, I thought because it's one of the largest bank in the world, I thought I will go there and just open an account in a minutes. But after visiting the branch I was felt like they want to know everything about us and despite of opening bank account they were talking about everything else.

      At the end of the conversation they told me they will send my application to their head office and if the application gets approved only then they will start the process of opening the account. They were constantly trying me to take a normal or any current account because I run my business.. And I had to explain them for like 45 minutes that I only need this account but at the end of the conversation they did not open account they told me that we will call you back in two days... I don't think it's worth the effort...

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 4, 2020

      I am an existing FD customer. Trying now, for 6 weeks, on a daily basis to complete the process of opening a business account. Hours spent several times a day trying to get through (yesterday 2 hours!). Equally online application process - verification of ID, which shouldn't be required since I am an existing customer not working. Online support/chat more than useless. Now tried to use online complaint form and it tells me that my email is invalid. This is breathtakingly incompetent.

      Bernd

      6 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 18, 2020

      Worst bank I have ever dealt with - STAY AWAY FROM THEM! I have been a premier customer for 7 years and if I had a choice, I would give this bank a fat 0. They are a complete bunch of incompetent clowns and thieves. HSBC customer services is worse than useless, they obviously do not know what they are doing. I finally was going down to the branch in Nice to close my account. I was told it will be closed, but I can see that they finally refused. Moreover, they charge 15 euros each month for NOTHING and even charged me 8 euro, but for what? HSBC took money out of my account dishonestly. STAY AWAY!

      15 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 18, 2020

      I made a mistake twice and joined HSBC for the second time after 5 years, purely deceived by their offers on cashback on transactions etc. But please don't fall for this little incentive as the headache dealing with this bank does not worth the hassle and the offer, believe me:

      - Online internet banking, mobile internet banking is not user-friendly. For someone who thinks is good with the computer, the login steps are unnecessarily complicated and when you question them, they only say for security reasons. But comparing them with CBA, I believe this just an excuse to hide behind to cover their old and out of date system. Put in the last 3 digits of your BSB then all your account number every time for a day to day transactions, code generating every time, the system being down frequently, is very common in my second experience for 2 weeks. (Similar issues from 5 years ago, which pushed me to leave them.)

      - For every transaction, you have to generate a secure passkey. So prepare to have your phone with you if you are logging in on your computer. Simply, for a transaction, you need TWO device!!

      - You may get the same letter 3 times, which shows how disorganised this bank is. Like 3 letters mailed on the same day with consecutive reference numbers for the same topic (welcome mail to HSBC and that my card is active) - (see the photos). It does not bother me, but why?

      - ApplePay: You can not add the card to your phone and use it straight away. Like CBA, (which sends you a code to your phone and once the code is, you are good to go), with HSBC, you need to call them, wait on the line for a few minutes and once they IDed you, you can then use the ApplePay.

      And the fact that you have to call them this frequent, and the fact that you will be IDed each time, prepare to be IDed for a gazillion time!! I have called them more than calling my parents in the last 2 weeks!

      - The call centres appear to be overseas and people you deal with they do not sound competent. This is my opinion, I might be wrong.

      And lastly, I wish I was able to give Zero star, however, I am happy with One star, as HSBC has given $9.89 cashback on all transactions I have made in the last 2 weeks. So enjoy the One Star, but I won't ever come back to HSBC. Thank you.

      12 people found this review helpful
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      HSBC Company Information

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