HSBC Online is a subsidiary of HSBC Bank USA, N.A., which provides personal financial services, private banking, commercial banking and corporate investment banking to 3 million customers.
Company Headquarters:
HSBC USA
452 Fifth Avenue
New York, NY 10018
Website: www.us.hsbc.com/1/2/3/personal/online-services
Customer service: 1-800-975-HSBC
Types of Accounts Available
HSBC Online is different than the traditional HSBC bank in that it only offers one personal account known as the Personal Internet Banking Account.
Personal Online Banking
While HSBC Online doesn’t offer a traditional checking or savings account to make deposits, it offers Personal Internet Banking, which serves a one-stop shop for managing a number of account types through HSBC.
Some basics of this account include:
- View account balances, transactions and track purchases made online
- Free Online Bill Pay
- Transfer funds between HSBC accounts and those held with other banks and credit unions through Bank to Bank Transfers
- View copies of posted check images
- Free online statements
- Backed by $0 Liability, Online Guarantee against unauthorized use
- Order new checks
- Request statements
Customers can open new accounts from the online banking portal, along with requesting new lines of credit and applying for other types of services. Those who want to obtain accounts through HSBC could benefit from this service as it provides access to all of the other services from one location.
HSBC Accounts
While HSBC Online doesn’t specifically offer accounts, it links to other HSBC accounts. Let’s take a look at basic savings and checking accounts that can be linked to Personal Online Banking.
Checking Accounts
- Basic Banking
- Account works for those who only plan to write a few checks a month
- Monthly maintenance fee of $3 a month
- Can be linked to Personal Internet Banking - Choice Checking
- Interest-bearing account
- Comes with free Personal Internet Banking
- Requires customers to maintain at least $1,500 in combined monthly income
Savings Accounts
- Regular Savings
- Traditional savings account
- Offers competitive interest rate - Online Savings Account
- One of bank’s highest savings account rates
- No minimum balance requirements
- No monthly fees.
Money Market Accounts
- Premier Money Market Account
- No balance requirement
- No monthly maintenance fee if maintaining a HSBC checking account
- Free Personal Internet Banking and Bill Pay
- Automatic transfers and payments
- Direct Deposit - Premier Investor Savings Account
- Tiered interest rates
- Qualifying balance of $25,000 or more
CD
The Term CD is HSBC’s main certificate account. It comes with the following terms:
- 3 month
- 4 month
- 6 month
- 7 month
- 8 month
- 9 month
- 11 month
- 12 month + 1 day
- 13 month
- 15 month
- 24 month
CD term rates are variable and compound daily. The bank does not advertise jumbo CDs.
How to Open Account
In order to register for Internet Banking with HSBC Online, prospective customers need to provide:
- Social Security number (Tax ID number)
and
- HSBC ATM, Debit MasterCard or credit card number along with the associated PIN. This information provides the bank with automatic verification of identity and allows for immediate access to Internet Banking.
or
- If you don’t have an HSBC credit card, ATM or Debit MasterCard, register with another HSBC account such as a mortgage, home equity, savings, check or loan account for authentication.
Confirmation of registration is then sent to the customer by mail to let them know to begin using Internet Banking.
FDIC Insurance and Coverage
While the Internet Banking option is not FDIC-insured because it doesn’t serve as an actual online account, HSBC is an FDIC member and does insure its accounts. This means the accounts that are linked to the account are FDIC-insured. Currently, the law requires banks to insure money for up to $250,000 per depositor.
Customer Service
HSBC offers a number of customer service options. Customers can call the bank’s 1-800 number for assistance or send mail inquiries to the bank’s P.O. Box.
Security
HSBC secures its online customers through a number of safeguards, including password protections, https:// secure sessions, SSL technology, session timeouts and automatic lockouts.
