HSBC Bank Rates & Review

HSBC Bank Review

HSBC Bank USA, a large U.S. bank serving 3.8 million customers, is part of a global bank that is the largest financial institution in the world. A well-known provider of credit cards, the bank also offers a complete range of personal and business banking products and services.

HSBC Bank USA is headquartered in New York City and has over 400 branch locations in the United States. Its holding company, HSBC North America Holdings Inc., is one of the country's top ten bank holding companies with assets of $391 billion as of December 2009. Its parent company is UK-based HSBC Holdings PLC, a global financial services company headquartered in London. Forbes reports that in 2010, HSBC Holdings was the world's largest banking and financial services group and the world's eighth largest company of any kind, with assets of more than $2.3 trillion as of December 2009.

Credit cards

This bank is known for its credit cards. The cards include rewards and non-rewards credit cards. Some of them come with benefits like roadside assistance and travel insurance.

Checking and savings

HSBC Bank has a full range of personal checking and savings products. There are interest and non-interest checking account options that all come with debit cards, online banking and bill pay. Savings accounts include basic, premium, and high balance accounts. The bank offers a premium money market account and an online savings account. CDs are available with maturities from 3 months to 2 years.

Insurance, investments and loans

The diverse range of products and services that this bank offers includes various home and personal loans, assistance with investments and access to life insurance. A full suite of wealth management services is available here.

Business banking

This global bank provides a full set of products and services to its business customers. These are comparable to those offered for personal banking customers in terms of scope and variety. Examples of additional business services include cash management assistance and executive benefits insurance.

Going green

This bank emphasizes the importance of being earth-friendly. Green services include paperless statements, direct deposit and free online bill pay.

Deposit insurance

HSBC Bank USA, NA is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.

Compare savings account rates from HSBC Bank and more than 400 other banks at SavingsAccounts.com.