HSBC Bank Review 2026: US Banking With Multi-Currency Options
Written by
Sophia Acevedo
Edited by
Melanie Grafil, M.A., CHFCâ„¢
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Wide Gobal Reach and Competitive APY Offerings
HSBC, short for Hongkong and Shanghai Banking Corporation, stands out for its global reach and services. However, its interest rates on bank accounts vary depending on which accounts you open -- some are more competitive than others.
HSBC Bank USA is best for business owners or high-income individuals who want access to Premier banking and international reach. The Global Money account, managed entirely from the robust smartphone app, may be HSBC’s standout feature, because you can manage your multiple currency funds in one place and seamlessly make transfers and payments.
HSBC Checking Accounts
HSBC Premier checking is the bank’s primary checking option. You can also open the Global Money Account if you want to send foreign currency, but keep in mind this account doesn’t have a debit card.
- Opening requirements: To apply for a Premier account, you must have at least $100,000 in total deposits and/or investments, at least $5,000 in total monthly direct deposits, an HSBC U.S. residential mortgage, or Private Bank status. To apply for a Global Money Account, you must have a Premier checking, Premier Savings, or Premier Relationship Savings account in addition to the HSBC U.S. mobile app.Â
- Bonus opportunity: If you open a Premier checking account by Dec. 31, 2025, you could earn a cash bonus of up to $3,500. To earn $1,000, add $150,000 to $249,999 in new money. To earn $2,500, add $250,000 to $499,999 in new money. To earn $3,500, add $500,000 or more in new money. You must deposit new money into your Premier checking account, Premier Savings account, or Premier Relationship Savings Account by Dec. 31, 2025, and maintain this money in your account until March 31, 2026. You can earn an extra $25 by also registering and logging into the HSBC mobile app. There s also a separate HSBC bank account promotion for referrals.
Where It Stands Out
Checking Accounts
International Reach
Multi-Currency
Wealth Management
Designed for Global Users
HSBC’s checking account offerings are best for customers who can meet the higher balance or deposit requirements, and want the relationship perks. If you’re a frequent traveler, you’ll benefit from Global Money Account’s support of multiple currencies.
Fees
$50 monthly, waived with requirements
APY
Min Opening
$0
Pros
- Relationship banking perks
- Global Money Account spprt
- Avoidable monthly fee
- Potentially large sign-up bonus
Cons
- Requires high balances or monthly deposits
- No debit card with Global Money Account
- Low APY
Why We Like HSBC Bank
If you plan to buy a home or rely on your bank for a vehicle or personal loan, a Premier checking account could give you relationship banking perks, such as unique travel benefits on credit cards and the highest savings rate on the Premier Relationship Savings account. The Global Money Account is ideal for international travelers or U.S. residents with family or financial interests outside the country. It allows you to bank in multiple currencies through a mobile-only account that supports eight currencies, including the Euro, Canadian Dollar, British Pound, Hong Kong Dollar and Singapore Dollar.
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HSBC Savings Accounts
HSBC offers Premier and Premier Relationship Savings accounts. HSBC Premier Savings is ideal if you plan on regularly contributing to your savings. The account raises the interest rates as your balance grows, so the more money you keep in the account, the higher your interest earned. HSBC Premier Relationship Savings may be worth considering if you qualify for a Relationship APY and maintain the requirements each month.
- Opening requirements: You can open an HSBC account online or at a branch. There are no minimum opening balances required, but you’ll need to have or open a matching Premier checking account.Â
- Relationship APY: You can earn a Relationship APY of on Premier Relationship Savings at account opening and the following three months when you link it to an open Premier checking account. To continue to earn a Relationship APY after the introductory period, you’ll have to spend $500 or more using an HSBC debit card, pay $500 or more from a linked Premier checking account to an HSBC credit card or receive $5,000 or more in qualifying direct deposits to your HSBC Premier checking account.
- Standard APY: You can earn a Standard APY of on Premier Relationship Savings. The HSBC Premier Savings account offers APY on balances of $0 to $24,999.99, APY on balances of $25,000 to $99,999.99 and APY on balances of $100,000 or more.
Where It Stands Out
Checking Accounts
International Reach
Multi-Currency
Wealth Management
Boost Your Savings Rate
HSBC’s savings accounts can offer a competitive Relationship APY if you meet the Premier requirements and other qualifying activities.
Fees
No monthly maintenance fee
APY
Up to
Min Opening
$0, though you’ll need to have or open a matching Premier checking
Pros
- Competitve Relationship APY
- Multiple ways to qualify for the Relationship APY
- No monthly maintenance or minimum opening deposit fee
Cons
- Premier checking account requi5red
- Large monthly direct deposits or spending required to maintain Relationship APY
- Low standard APY of
Why We Like HSBC Bank
HSBC Premier Relationship Savings offers a Relationship APY that’s on par with high-yield savings accounts from the best banks. HSBC Premier Savings also offers a higher interest rate for higher account balances.
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HSBC CD Accounts
Certificates of deposit are a good way to earn extra savings by growing your money with higher APY yields. HSBC CDs also have standard minimum opening deposit requirements. You’ll need to be a Premier customer before you can open a CD with HSBC.Â
Don’t forget to compare rates by checking the best CD rates after you read this HSBC bank review.
- Opening requirements: A minimum of $1,000 is required to open a CD.
- Key features: HSBC CD rates are solid, but other banks have more term options. HSBC CDs renew automatically, but you’ll get a reminder about 16 days in advance of the maturity date. If you would like to make adjustments to your CD during the grace period, you can call HSBC to add money, withdraw money, or select a new term.
- Fees: HSBC CDs do not charge monthly service fees. You only face a fee if you withdraw money before a CD reaches maturity. Early withdrawal penalties for HSBC CDs are reasonable, ranging from 30 days to 180 days of simple interest, depending on the term length.
- APY: HSBC currently pays 3.60% for six months, 3.40% for 12-month CDs and 3.10% for 24-month CDs. There are also New Money CDs, which offer a higher APY for a deposit from an external account. HSBC pays 3.70% APY for a 6-month New Money CD, 3.60% APY for a 9-month New Money CD, 3.50% APY for a 12-month New Money CD and 3.25% APY for a 24-month New Money CD.
Where It Stands Out
Checking Accounts
International Reach
Multi-Currency
Wealth Management
Higher APYs Available
HSBC’s CDs offer solid returns and bonus rates for any new deposits, though you must be a Premier customer.
Fees
$0
APY
Up to
Min Opening
$1,000
Pros
- Competitive APYs
- Early withdrawal penalties are reasonable — between 30 to 180 days
- Automatic renewal with notice of about 16 days
Cons
- Premier status required
- Only a few term options available
- Minimum opening deposit could be steep for some
Why We Like HSBC Bank
HSBC CD rates are solid, but other banks have more term options. HSBC CDs renew automatically, but you’ll get a reminder about 16 days in advance of the maturity date. If you would like to make adjustments to your CD during the grace period, you can call HSBC to add money, withdraw money, or select a new term.
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Banking Experience
HSBC Bank provides many different services for a full financial solution. Global transfers and international payments are possible. HSBC also offers loans, credit cards, wealth management, insurance products and more.
HSBC offers mortgages, specifically fixed-rate, adjustable-rate and jumbo loan options. As of writing, the bank no longer offers personal loans in the U.S.
Beyond banking products, you can tap into Wealth Management Services through HSBC. The financial professionals can help you navigate your financial situation throughout your life. Some key points they can help you with include planning for education, career transitions and retirement.
Mobile App Experience
The app provides many of the basic features you’d expect such as account activity, balance monitoring, the ability to pay bills and make mobile check deposits. In addition, account holders can work with multiple currencies and transfer money internationally to other HSBC accounts overseas.
A typical HSBC Bank review from customers references the ease and functionality of the mobile banking app. Download the app after reading some of the customer reviews:
- Google Play: 4.5 out of 5 stars, 11K votes
- Apple Store: 4.7 out of 5 stars, 48K votes
Online Banking Tools
Similar to mobile banking, you can view your bank account and pay bills when you log into your account online. You can make bank-to-bank transfers through online banking, which you can’t do through the HSBC mobile app.Â
Customer Service
You’ll have access to branches nationwide and globally. Unfortunately, U.S. branches are concentrated on either coast of the country. HSBC makes up for it by offering service in five ways:
- Visiting an HSBC branch using the online locator
- Calling a customer service representative at 800-975-4722
- Sending a letter to the HSBC customer service address, premier banking address or mortgages address
- Conducting business and chatting with a customer service rep using your mobile app, web chat or Apple Business Messages
Branch and ATM Access
Within the U.S., you can tap into over 55,000 fee-free ATMs through the Allpoint network. If you have HSBC Premier checking, HSBC Premier Savings, or HSBC Premier Relationship Savings, the bank will rebate up to five qualifying ATM third-party surcharge fees incurred per month.
HSBC vs. Competitor Options
HSBC Bank is uniquely positioned when compared to its competitors, especially for international banking services. Here’s how the bank compares.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$50 monthly, waived with requirements
Up to $15
$0 or $15, with options to waive
APY
APY
APY
N/A
N/A
Min Opening
Min Opening
Min Opening
$0
$0
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly maintenance fee
See Citi’s website for details on monthly fees.
$5 monthly, waivable
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$0, though you’ll need to have or open a matching Premier checking
$0
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0
No monthly service fee
No monthly service fee
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$1,000
$500
$1,000
| Bank | Best For |
|---|---|
| HSBC Bank | International banking services while abroad |
| Citibank | Wide network of domestic branches |
| Chase | Numerous financial services and account options |
| Barclays | Global banking service with customer value in mind |
HSBC vs. Citi®
If access to U.S. branches and ATMs is important to you, Citi’s wider network of domestic branches is best. Travelers that need international banking services while abroad would be better with HSBC over Citi.
HSBC vs. Chase
Both banks have plenty of financial services and account options. Choose Chase if you don’t need international banking and HSBC if banking while abroad and multi-currency support would be needed.
HSBC vs. Barclays
Barclays is limited to savings accounts within the U.S. For a full-service banking experience from an international bank, HSBC is the better choice.
Final Take
Summing up this HSBC Bank review, the bank has it all — banking, investments and loans — with a domestic and international presence. The world is getting smaller and HSBC is working on making banking in one — or several — countries possible. If you’re a frequent international traveler or have funds in more than one currency, HSBC can make managing your money easier. Best of all, you can open an account in minutes online.
Cynthia Bowman and Sarah Sharkey contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 29, 2025.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
