If you’re here, you’ve likely already decided on — or are strongly considering — opening an HSBC account. HSBC is a global financial institution founded in 1865. As one of the world’s largest banking organizations, it serves more than 42 million customers throughout 62 countries or territories.
Step-by-Step Guide: How To Open an HSBC Account
If you’re wondering how to open an HSBC account, you’ve come to the right place. This guide will give you detailed instructions on finding the right account for you, what documents you’ll need to open it, how to apply in person or online and more.
Determine Which Bank Account You Want To Open
The HSBC account you want to open depends on your current banking needs. Are you looking for a bill-pay account to use for rent, utilities and other monthly expenses? Or do you need a secure place to grow that new car fund? The variety of accounts, including checking, savings and CDs might be appropriate depending on what your goals are.
Gather Your Personal Information
You may be asking yourself “What do I need to open a HSBC account?” Well, here are the HSBC account opening requirements.
Opening an Account Online
Have these documents and information handy.
- Personal information (name, date of birth)
- Social Security number
- Contact information (phone number, email, address)
- Employment status and income
- Funding account information
To apply online, follow these steps:
- Go to the HSBC homepage
- Hover over the “Banking” tab on the left
- Click on the type of account you want to open
- Select the specific account you would like to open
- Click “Learn more” and then “Get started”
- Fill out the necessary information
Opening an Account In-Branch
If you decide to go to a branch to open an account, you should have the above documents ready. Additionally, you’ll want to bring your driver’s license, state ID or military ID to verify your identity.
Visit your nearest HSBC branch and have a representative walk you through the application process. This is preferable for customers who are new to HSBC or new to banking in general. To find a HSBC location near you, use its branch locator and enter your location.
Your HSBC Account Options
HSBC has a several different bevy of checking, savings and CD accounts. Here’s a broad overview:
HSBC Checking Accounts
- HSBC Premier: Best for customers who keep high balances
- HSBC Global Money: Best for international travelers and customers who regularly spend in multiple currencies
HSBC Savings Accounts
- HSBC Premier Savings: Best for customers who keep high balances
- HSBC Premier Relationship Savings: Best for customers who regularly use the account or have a large HSBC mortgage
HSBC CDs
- HSBC CD term length options include six, 12 and 24 months
- The highest APYs available are the 6 and 12-month CDs, both of which currently offer
HSBC Business Accounts
- HSBC Premier Checking: Supports your business’ everyday needs, with no borders and a waivable $50 monthly maintenance fee
- HSBC Premier Savings: Up to APY for a Relationship account
HSBC Account Fees and Minimum Balance Requirements
HSBC offers different accounts, each with specific costs and conditions.
Account-Specific Fees and Minimum Balance Requirements
| Account | Fee | Minimum Balance |
|---|---|---|
| HSBC Premier Checking | $50 per month | $75,000 or $5,000 in monthly direct deposits |
| HSBC Global Money Account | $1 per month | No minimum balance |
| HSBC Premier Savings | $0 | Must have an HSBC Premier Checking account |
| HSBC Premier Relationship Savings | $0 | Must have an HSBC Premier or Advance Checking account |
Other Fees
It’s also good to know other potential bank fees, as well as which ones can be waived.
| Type | Fee |
|---|---|
| Overdraft fee | $35 per transaction (waived for Premier Checking customers) |
| Out-of-network ATM fee | -$0 for Premier Checking & Savings -$2.50 for Global Money Account |
| Wire transfer (domestic) | -$15 incoming -$35 outgoing |
| Wire transfer (international) | Varies by country and currency |
How To Avoid Fees
To minimize unnecessary charges, consider these strategies:
- Maintain the required balance or set up direct deposit to avoid monthly fees.
- Use HSBC ATMs to avoid out-of-network fees.
- Opt into overdraft protection to prevent costly overdraft fees.
- Use online banking features to transfer money instead of using costly wire transfers.
How To Fund Your Account
You can fund your account in a variety of ways, including:
- Cash or check: You will need to visit a branch or an ATM
- Bank transfer: If you have another bank account, you can transfer those funds to your new HSBC account
- Direct deposits: This can be set up through your employer or your government benefits, as examples.
Benefits of Opening an HSBC Account
HSBC has quite a robust lineup of banking products to suit everyone, whether you’re just looking for an everyday account or a business solution. Here are some of its best assets;
- Checking, savings, CDs and business accounts
- Mobile app and online banking options allows you to manage your account, pay bills and more, at your convenience
- Competitive APY rates
- Ways to waive fees available on banking accounts
- International banking available with Premier accounts
What To Do If You Need Help From HSBC Customer Service
If you have questions that could best be answered by an HSBC customer service representative, call one of the following numbers:
- Personal Banking: 800-975-4722
- HSBC Premier Banking: 888-662-4722
- HSBC Advance: 866-584-4722
Phone hours are 7 a.m. to 9 p.m. ET. You can also chat with an HSBC representative via chat in your online banking portal, or send the bank mail at HSBC Bank USA, N.A., P.O. Box 2013, Buffalo, NY 14240.
Tips for Getting the Most Out of Your HSBC Account
Your best bet when you first open your HSBC account is to get direct deposit set up. Then, get familiar with the mobile app so you can transfer money to and from your account. You can also set up automatic bill payments and reminders for any account transactions you’d like to complete. Finally, if you have a new Premier account, you should take advantage of any exclusive offers and opportunities to earn rewards.
Melanie Grafil contributed to the reporting for this article.
HSBC Account FAQ
You have questions about opening an HSBC account. These are the answers.- How long does it take to open an HSBC account?
- Opening an HSBC account could take between 1o to 15 minutes, if you're doing it online. However, in-branch applications could take a bit longer, depending on how busy the branch might be. You may also choose to factor in the time it takes to drive to the branch.
- Can I open an HSBC account without going to a branch?
- Yes, you can apply online. However, there may be verification that require an in-person visit, for example, if you're applying for a Premier account.
- What is the minimum deposit required to open an HSBC checking account?
- There is no minimum deposit, but Premier accounts require a high balance to avoid monthly fees.
- Can I open an HSBC account with bad credit?
- Yes. You can apply for a checking or savings account at HSBC without a credit check.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Feb. 12, 2025.
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