$75 Bonus for HSBC Interest Checking Account

The only good thing about this account is the bonus which is why they are offering a bonus. The only interest checking account which I could find that either paid lower rate was US Bank Interest Checking which requires min balance of $2K to waive monthly service fee and pay wooping 0.04% vs HSBC 0.05%

Wells Fargo Interest checking pays 0.10% - Requires $2k between all linked accounts to avoid monthly fee
Wamu Gold Checking pays 0.50% - Requires $10k between all linked accounts to avoid monthly fee
UBOC interest checking pays 0.10% - Requires $2.5k between all linked accounts to avoid monthly fee
Citibank Citbank Account pays 0.25% - Requires $6k between all linked accounts to avoid monthly fee
BOA Prima/Advantage pays 0.05% - Requires $10k between all linked accounts to avoid monthly fee

then following banks have better rates for account holders with balances above $25K

Wells Fargo PMA checking pays 2.75%
Wamu Platium Checking pays 2.50%


These are only the rates from Big banks in CA. I know at many smaller banks you can find a much better interest checking account like Netbank, INGDirect EO etc.

I guess if you plan to keep money in HSBC online savings account long term then I guess this account is not so bad except compared to another interest checking accounts this account has less benfits and one of the lowest interest rates around. While I understand most of the other banks rates are pretty bad too until you get into $25k+ range they are still better than HSBC by 50% to 1000%. Even tho they are paying that much in my option most people would be better serve with no balance requirement accounts which dont pay any interest anyways because getting 0.05% or 0.25% is basically nothing anythings so why be forced into maintain a cash balance to avoid the fees.

Can anyone confirm if there is a soft or hard pull for opening this account?

It looks like the monthly fee is easily avoidable, so $75 free sounds good.

Can you make in branch deposits with this checking account or is it online only?
If I make an in-branch deposit, can I transfer it more quickly to my savings account and thus save the 2-3 day hold HSBC puts on it?
Thanks in advance.

Well I just opened up a checking and a savings account elsewhere... I probably wouldn't get accepted here, although I currently have a savings acct with them.

skcoder said: HSBC counts paypal transfers as direct deposit according to this thread so just send yourself $1.00 per month to avoid the $8 fee.

Are you sure though that they don't require a certain amount for a PayPal transaction to count as DD? A BoA rep I spoke with said that they (BoA) would count PayPal deposits as DD, but it had to be at least a $25 transaction. If HSBC doesn't have that kind of restriction, then I'm all on this, but otherwise...may just go with the free checking and the $25.

Somebody called to confirm online saving is included

kalium said: Is online savings included in that combined balance 3000?

samko said: Can you make in branch deposits with this checking account or is it online only?
If I make an in-branch deposit, can I transfer it more quickly to my savings account and thus save the 2-3 day hold HSBC puts on it?
Thanks in advance.
Yes you can make in branch deposits to the checking account.
How quickly you can transfer to the online savings account depends on what you're depositing. You can transfer cash deposits immediately. You'd have to wait for check deposits to clear before you can transfer.

CAN anyone confirm is HSBC accepts paypal for direct deposit to checking, and what the minimum amount is?

double post

dolmar said: SleepyBum said: Well... this is good if you want Premier at HSBC. For some wierd reason, in order to get HSBC premier, you need to have a checking account.

Oh well, if they offered a free iPod nano, I'd open another checking account. But I have way too many checking account as it is.

HSBC Premire checking no offense is a joke compared to other interest checking from other banks with much lower balance requirements.

HSBC Premire Requires $100K min balance between linked accounts and pays a wooping 0.25% compare that to following:

BOA MRA requires $50K between linked accounts and is paying 4.44% in T-Bills Sweep account.

Wells Fargo FDIC PMA checking accounts tier interest highest rate pay 4.40% witn $100K balances + unclear is it is between combined balances or balance in the checking account as web page is unclear and CS claims between combined balance in all accounts.

Citibank Citigold Requires $100K between combined accounts and has tier rates starting as low as 1.01% to 2.75% for balance aboves $50K

Wamu Platium Checking Requires $10K min combined balances but pays interest based on combined balance tiers. For accounts $100K+ 4%

So personally I see little no reason to get HSBC premire account considering they pay worst rate of all accounts with this kinda of min balance requirement. And only good benfits you get is talking to US based CS reps so unless you call CS all time is worth little to nothing.
First there is no min for HSBC Premier checking, I have $2 in mine, You just need a combined balance of $100k. Also you do not need Premier checking to get Premier status with HSBC. I had it when I only had my savings account, Did open Premier checking after and only plan to use for quick exits out of HSBC

I'm thinking about jumping on this. If you open the Online Savings with $3000 by March 1, you'd get two months of the 6.0% APY (5.84% APR) promo, or $29.20. There's a fee if you close the account within 6 months, so you'd need to leave the $3000 in Online Savings for 4 more months at 4.94% APR, earning $49.40 in interest. Add in the $75 bonus for opening the "Interest" Checking, and you'd earn $153.60, or over 5% in 6 months. (It would actually be a little but more, since i figured simple, not compound, interest.)

Now I wish I'd opened an HSBC Online Savings acct on 1/29.

SUCKISSTAPLES said: Ditto. I have the HSBC 6% savings and now the interest checking with $100 in it. Makes for quick easy transfers.

I opened in branch, and a hot Japanese girl helped open my acct, and gave me her direct line in case I need servicing. Anyone who opens in downtown SF, say hi to Megumi for me

Ohh Good GOD SIS, I might have to make the drive from Baltimore out there to see this Megumi

ScootyPuffSr said: If you are calculating things to the penny....why did you base it on the inaccurate assumption that you must leave $3,000 in the account for 6 months? I thought there was no minimum so you could leave $1 in savings and transfer the rest to the next highest rate.

Excel calculated to the penny, I was too lazy to round up.

I will leave $3k in there because I'm too lazy to do direct deposits every month.

I opened my Premier checking awhile ago just as a way to get my money out quicker, I think it was required to keep open for 6 months and I am past that. Another thing people could look for with Premier is the Premier card. I know people don't particularly like HSBC cards but this one is not your standard HSBC card. I got one in my AoR, Got a decent CL of $35k and 12 month 0% cash advance with $75 cap. CSR's are great on that account.

Those checking accounts Dolmar listed are pretty poor and that's why even though I lost my grandfathering on my Libor account I kept it open. Right now it's at 4.93% APY and min was lowered to only $50k. Nice to have that account to pay big bills with and get the float

Wells Fargo Interest checking pays 0.10% - Requires $2k between all linked accounts to avoid monthly fee
Wamu Gold Checking pays 0.50% - Requires $10k between all linked accounts to avoid monthly fee
UBOC interest checking pays 0.10% - Requires $2.5k between all linked accounts to avoid monthly fee
Citibank Citbank Account pays 0.25% - Requires $6k between all linked accounts to avoid monthly fee
BOA Prima/Advantage pays 0.05% - Requires $10k between all linked accounts to avoid monthly fee

then following banks have better rates for account holders with balances above $25K

Wells Fargo PMA checking pays 2.75%
Wamu Platium Checking pays 2.50%

scott1961 said: Those checking accounts Dolmar listed are pretty poor and that's why even though I lost my grandfathering on my Libor account I kept it open. Right now it's at 4.93% APY and min was lowered to only $50k. Nice to have that account to pay big bills with and get the float

Atleast Quote Mini Private Bank accounts if you going to try to compare them to HSBC Premire and not accounts that require under $10K. LOL

BOA MRA/MMA currently pays 4.48% in T-Bills Sweep(updated rate this morning) only requires $50K gives you more benfits than HSBC Premire and if you are in CA,NJ,CT who state income taxes are all above 9% your yeild is 4.89% or if you are in NYC with 10%+ then your yeild is 4.93%.

Your account is nothing special anymore considering you can get the same rate or with 5-10 basis of it at a mega bank with much better ATM access, online banking etc.

And Scott that BOA account also is between link accounts you need to maintain $50K. I keep $10 in my MRA as I use my Citi accounts mostly. I never been charged a service fee. Just use this account to move money from BOA to Citi in general.

scott1961 said: It's still special to me because of the fond memories Doubt there is any better ATM access since it's free Worldwide. This account was also my central hub and don't feel like changing all my linked accounts. Also while I know your accounts are safe they are not FDIC

From Salem Five Web page:

Free ATMs Worldwide
(Salem Five will not charge a fee and will reimburse the fees other banks charge, up to $25 a month)

Foreign ATM Surcharge(s): If you initiate a transaction at an ATM not operated by Salem Five, a surcharge may be applied by that operator and/or by an automated transfer network. For the Platinum Cash account, ATM surcharges will be reimbursed up to $25.00 per statement cycle. However there is a foreign exchange fee of 3%.

So why advantage do you having using this ATM overseas? Atleast using BOA/Citi/HSBC you can avoid forex fees. Great you wont be charge a surchage and they might refund up to $25 of Forex fee which means if you withdraw more than $825 you are in effect paying 3%.

I just signed up all online and deposited $1. It does make you print out a signature card and mail it. I plan on keeping $1 in the account and closing at 6 months. Nice, easy $75. Thanks op!!


I have printed the offer page and will update when the $75 is deposited.

GodspeedChu said: I also opened it, and currently i have almost 3k in my online saving, but I cannot find the information which says that either DD OR COMBINED 3K can waive the fee. Anyone can help me?

BTW, does it count as DD if I schedule an automatic transfer from my another HSBC checking account to this account?

No DD is always from an outside source. Some banks do count any ACH push as direct depoist pay check while other banks do not.

For those with an HSBC Savings with > $3K...this deal sounds like a no-brainer. Basically a free $75 with no need to do anything in order to avoid a monthly penalty. Cancel checking account after 6 months if you like.