HSBC
Check full information about HSBC — review, rating in 2024. See detailed contact information, financial data, locations and list of branches.
3.93
Branches near me
Financial data
All values USD, Dollar figures in thousandsAll Financial Data HSBC
168,924,907
149,759,213
139,275,125
19,165,626
HSBC General info Pros&Cons
Pros:
- Customers can bank internationally. HSBC has physical locations in 64 countries, allowing account holders who are traveling to access various branches across the world. They can also withdraw funds at HSBC-operated ATMs anywhere without being charged a fee.
Cons:
- Limited branch and ATM network. HSBC only has 148 branches and 400 ATMs in the US.
- Luck luster mobile banking app. HSBC’s mobile fails to meet the usability and convenience levels set by most competing apps, and it also falls behind in terms of being innovative.
HSBC Checking and saving accounts Pros&Cons
Pros:
- Low opening deposit requirements. When opening a savings or checking account online, your initial deposit can be as low as $1. However, if you set up your account at one of the branches, the minimum deposit requirement is $0.
- Earn interest on low balances. Your minimum balance needs to be at least $1 if you wish to earn interest on your Everyday Savings account. For Premier and Advanced Savings accounts, interest is earned even if your account balance is $0.
- Select Credit. This is a personal line of credit with a competitive APR. You can use it to cover various expenses, such as emergencies, home improvements, tuition and vacations, when your checking account doesn’t have enough funds. The PLoC also offers overdraft protection.
Cons:
- Low interest rate. The entry-level APY, which most people can afford, is below the industry average.
- Overdraft fee. While the bank charges the standard overdraft fee of $35, it can be levied up to three times a day.
HSBC Credit cards Pros&Cons
Pros:
- No foreign transactions fees. Most HSBC credit cards don’t charge a fee when you do transactions abroad.
- ShopRunner membership. Some cards come with a complimentary ShopRunner membership, allowing cardholders to enjoy unlimited two-day shipping and returns for free at more than 140 stores online.
- Introductory bonus. All cards have a welcome bonus, which can be activated when you meet specific spending requirements.
- No annual fee. Most cards don’t charge an annual fee. However, you might need to be an Advanced and/or Premier client to avoid paying the fee on some cards.
Cons:
- No credit-building option. HSBC doesn’t have a card catering to people who want to start building their credit.
- No cobranded cards. Those looking for a cobranded card won’t find any with HSBC.
HSBC Personal loans Pros&Cons
Pros:
- Instant access to funds. Funds are available in your account the moment the loan is approved.
- You can prequalify. The bank will run a soft credit check, which won’t impact your credit score.
- Some fees are waived. There are no origination and prepayment fees.
- Personal loan calculator. You check how much interest you’ll pay and your loan repayment schedule with the online calculator, allowing you to make an informed borrowing decision.
Cons:
- Limited availability. Only residents from a few states can apply.
- No cosigners. You can’t use a cosigner with excellent credit to improve your chances of getting approved.
HSBC Mortgage Pros&Cons
Pros:
- Variety of loan options. You will find a good selection of loans, including conventional, fixed-rate, adjustable-rate, jumbo and low downpayment loans.
- Wide availability. You can start the loan application from any state except West Virginia and Alaska.
- Assistance with the down payment. The bank offers down payment assistance to make closing costs more manageable.
Cons:
- No USDA loan. If you’re looking for this rural property, zero-down payment option, you’ll have to try other lenders.
HSBC Investment Pros&Cons
Pros:
- Wide range of investment options. These options include mutual funds, ETFs, equities, options and annuities.
Cons:
- No automated investment. A lack of a robo-advisor means inexperienced investors who don’t want to use the bank’s or third-party advisors need to learn the ins and outs of investing.
- Commission on trades. You’re charged $35 per trade for orders made by the HSBC Securities financial professional.