justdoit said:Does HSBC give any bonus to open the savings account like ING?


From this thread, FWers are reporting a "DM100" Promo code for $35 bonus.

A previous post states:
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HSBC offers Free Checking accounts and is currently giving away $50 bonus for signing up. ... NOTE that certain activity is required in order to keep this account free; they will convert it into Basic Checking and charge monthly fees after three months of inactivity.
::
Could you please tell me what is "certain activity" required to keep the account free? Your reply is very much appreciated.

Thanks!

EugeneV said:AugustFour said:A previous post states:
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HSBC offers Free Checking accounts and is currently giving away $50 bonus for signing up. ...
::
Could you please tell me what is "certain activity" required to keep the account free?

The link is in the sentence following the one you quoted.

The post states:
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... they will convert it into Basic Checking and charge monthly fees after three months of inactivity.
::
I assume an activity could be as simple as an ACH transaction (into or out of the account)? Could you please confirm?

Thanks!

AugustFour said:The post states:
::
... they will convert it into Basic Checking and charge monthly fees after three months of inactivity.
::
I assume an activity could be as simple as an ACH transaction (into or out of the account)? Could you please confirm?


Again, I am asking you to take this discussion to the linked thread. In short, the CSRs claim that the activity has to be "physical" (at ATM, branch, or writing a check), but it seems that just about any activity works, at least for now.

adityanm said:smilesdotcom said:I wish HSBC's checking accounts had overdraft protection that would automaticly draw from savings.

You open account with UFB if you want that.

Actually they do offer overdraft protection. I called to get info on my account and the CSR offered it to me. It is similar to opening a credit card though (they consider it a personal line of credit), but the fees are not very much compared to other overdraft protection fees from other banks. I do not plan to overdraft, but opened my account because I will be studying abroad in a country where HSBC has a large presence and I figured it would be worth it just in case exchange rates fluctuate greatly or something. So in short - call the 800 number and ask.

mahatma said:Can some one tell me the process of linking a Scottrade account?

The answer to this question has already been posted. You should read all the past messages.

adityanm said:The answer to this question has already been posted. You should read all the past messages.

Oh really? Can you show me where?


TonySpero said:mahatma said:Can some one tell me the process of linking a Scottrade account?

They ask you for an ABA # and your account number, I tried to enter the generic ABA # found on their website, but this was rejected, on HSBC's website it says to enter the number from your Scottrade checks, so I signed up for checking with Scottrade, which is free, the quickest way to sign up is fax the application over to your local branch, the checks took a while to arrive, once they did I entered all the info, it went through, they made trial deposits, then they withdrew the trial deposits, It's great having this link, I've been able to transfer money out of Scottrade, it only takes 3 days, no more waiting for checks via snail mail, then waiting another week for them to clear.

Thanks, this is exactly what I needed to know.

bump

HSBC Online Savings now advertised as HSBCdirect.com

Hi, can anyone tell me if the HSBCdirect account gives you a routing number which you can externally use to pull or push money? E.g. this will allow me to push money from Vanguard using ACH directly into the HSBCdirect account.

This would avoid HSBC's 3-day hold mentioned in the first post (when you use HSBC's transfer service) where you do not see the money credited in your HSBCdirect account while the source account had already been deducted.