HSBC Direct is an internet only bank and does not have branch locations. They are the online division of HSBC Bank in the U.S., which is part of HSBC Group. HSBC Group is a worldwide network that covers 67 countries and territories, serving more than 38 million customers worldwide.
With the HSBC Direct online division, HSBC is able to provide much better rates with this Savings product.
*See HSBC bonus offers here for their physical bank locations.
I’ll review the current Savings offer below.
Online HSBC Direct Savings Rate Offer: 2.01% APY
The HSBC Direct Savings account is available nationwide and you can only apply online.
- Earn 2.01% APY on all balance tiers
- No monthly maintenance fee
- Minimum balance to earn APY is $1
- Apply online today
- Move money quickly and access your funds using online transfers
- Depositing checks is as simple as taking a picture with your mobile device using HSBC Mobile Banking
- Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
Why The HSBC Direct Savings Is A Good Option
Being one of the largest banking institutions worldwide, you can trust your investment is in reliable hands and FDIC insured.
In terms of customer service, you’ll have Live Chat assistance with 24/7 online account access. Just as with other top banks, you’ll have access to a mobile banking app where you can deposit checks with your smartphone.
In your online account, you’ll also have access to a variety of tools for organization, setting goals, and tracking your progress.
The HSBC Direct Savings is available online and anyone in the U.S. can apply with the following requirements:
- You must be 18 years of age and have a Social Security Number
- Current U.S. residential address and a U.S. residential address for the past three years
- Valid U.S. ID (driver’s license, non-driver identification card, learner permit), passport or Permanent Residential Card/Green Card
- Account information for funding your new account
Facts You Should Know
The HSBC Direct Savings account is a very good online Savings account option, but be sure you read all the terms and disclosures to be fully informed. A few details to be aware of:
|The Incoming Wire Transfer Fee||$15 Per Incoming Transfer|
|Rate Compounding Period||Monthly|
|Interest Is Credited||Monthly|
|Maximum Daily Online Limit||$350,000|
|Maximum Account Balance||$2,000,000|
|Account Closing Fee||$25 If Your Account Is Closed Within 180 Days Of Opening|
See the nation’s best Savings rates here. CIT Bank and BBVA Compass also have good rates for their Savings/Money Market accounts. Also, be sure to see the current Savings bonus offers, including a good one from Chase Bank.
- CIT Bank Promotions: Online Money Market Account 1.85% APY Offer
- BBVA Compass Bank Promotions: $150, $200, $250 Checking/Savings Bonuses
- Online HSBC Direct Savings Rate Offer: 2.01% APY (Available Nationwide)
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