HSBC $300 Business Checking Bonus [Phone Or In Branch Only]

Offer at a glance

• Maximum bonus amount: $300
• Availability: In branch or via phone only [Branch locator]
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Unknown
• Credit card funding: None
• Monthly fees: $30, avoidable
• Early account termination fee: $25, 180 days
• Household limit: None listed
• Expiration date: None listed

The Offer

Direct link to offer

• HSBC is offering a bonus of $300 when you open a new Fusion business checking account using a referral code. You also need to complete the following requirements:
  • Deposit a minimum Qualifying Balance of $5,000 or more in New Money in the eligible HSBC business checking account (Fusion Professional, Fusion Smart, or Fusion First Account) within 30 calendar days of account opening; and
  • Register, and Log On to HSBC using the personal credentials you created and your security device within 45 days of account opening; and
  • Maintain at least the minimum Qualifying Balance(s) in your eligible business checking account (Fusion Professional, Fusion Smart or Fusion First Account) for 90 calendar days from the date you deposit the minimum Qualifying Balance.

The Fine Print

• Business Banking/Fusion New Customer: This offer is only valid for new Eligible Accounts opened during the Offer Period in a U.S. HSBC branch or by calling 833.722.HSBC (4722) during which a valid personalized referral code is provided by the new customer.
• The new account must meet qualifying requirements pursuant requirements discussed below.
• As described below, you must meet your minimum Qualifying Balance within 30 calendar days.
• Account opening date is considered day one of the 30 calendar days count.
• Customers who currently hold, or have held in the past 3 years, any HSBC business account are not eligible.
• You will automatically receive the $300 referral bonus to the new qualifying HSBC Fusion Professional, HSBC Fusion Smart, or HSBC Fusion First Checking account within 8 weeks from the date the new account is fully qualified, in accordance with the requirements below.
• The new Eligible Account must be open without being changed to a product with lower balance requirements and in good standing at time of gift fulfillment.
• Limit one Referral Bonus per new business account.
• A business customer can use only one referral code at the time of account opening.
• For both you and the individual/business who referred you, the bonus deposit(s) to your Eligible Account will be reported on the applicable IRS form.
• You and the individual/business who referred you may be responsible for any tax resulting from the Referral Bonus.
• Please consult your tax advisor if you have questions about the tax treatment of the Referral Bonus.
• Note: Estate and Trust accounts are ineligible to make referrals or be referred under this offer. Retain for your records.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Fusion First is the easiest account to keep fee free. This account has a $30 monthly fee that is waived if you if your qualifying commercial non-credit balance is equal to or greater than $5,000 (also a requirement for the bonus)

Early Account Termination Fee

$25 fee if closed within 180 days

Our Verdict

Previous best offer was for $250 with the same requirements. This is an extra $50 and can also be opened via phone rather than in branch only. Because of this I will be adding this to our list of the best business checking bonuses. You can find and share HSBC referrals in this linked post.

Hat tip to reader Taylor P

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times