Posted by William Charles on November 3, 2018
Bank Account Bonuses

Published on November 3rd, 2018 | by William Charles


HSBC $200-$750 Checking Bonus – Direct Deposit Not Required

Update 11/03/18: Bonus has been extended until December 28, 2018. They also updated the cut off date ( Customers who held an HSBC consumer deposit or investment account from November 2, 2017 through and including November 2, 2018 are not eligible for this offer). Reposting because of this.

Update 09/02: Bonus has been extended and is now valid until November 2nd. They also updated the cut off date (Customers who held an HSBC consumer deposit or investment account from August 31, 2017 through and including August 31, 2018). Reposting because of this.

Update 07/01: Bonus has been extended and valid until August 31st, 2018. They have also updated the cut off date (if you were a customer from June 30, 2017 through June 30, 2018 you’re not eligible. Previous it was March so a new batch of people who have had accounts before will be eligible). Hat tip to reader Chex Party Mix.

Offer at a glance

  • Maximum bonus amount: $750
  • Availability: Nationwide
  • Direct deposit required: Not required
  • Additional requirements: Deposit requirements, see below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees:
  • Early account termination fee: $25 if closed within 180 days
  • Household limit: None listed
  • Expiration date: December 1st, 2017 March 30th, 2018 June 29th, 2018 August 31st, 2018 November 2nd, 2018 December 28, 2018

The Offer

Direct link to offer

  • HSBC is offering three new checking bonuses of $200, $350 and $750. Each level requires a different account and requirements.
  • Choice checking $200 bonus requirements:
    • Open new HSBC Choice checking account by December 28, 2018
    • Deposit a minimum qualifying balance of $1,500 or more in new money in combined checking and savings accounts within 30 calendar days of account opening
    • Maintain at least the minimum qualifying balance for 90 days from the date you deposited the minimum qualifying balance
  • Advance checking $350 bonus requirements
    • Open new HSBC Advance checking account by December 28, 2018
    • Deposit a minimum qualifying balance of $10,000 or more in new money in combined checking and savings accounts within 30 calendar days of account opening
    • Maintain at least the minimum qualifying balance for 90 days from the date you deposited the minimum qualifying balance
  • Premier checking $750 bonus requirements:
    • Open new HSBC Premier checking account by December 28, 2018
    • Deposit a minimum qualifying balance of $100,000 or more in new money in combined checking and savings accounts within 30 calendar days of account opening
    • Maintain at least the minimum qualifying balance for 90 days from the date you deposited the minimum qualifying balance


The Fine Print

  • This offer is available only online for applications completed using the Apply Now button on this webpage. You must be at least 18 years of age, have a Social Security Number, and have a U.S. residential address to apply for a deposit account online.  Customers who held an HSBC consumer deposit or investment account from November 2, 2017 through and including November 2, 2018 are not eligible for this offer. All qualifying activities must be completed within the stated time frames in order to be eligible for the Welcome Deposit.
  • New Money is defined as deposits not previously held by any member of the HSBC Group in the U.S. Accounts/Assets that are ineligible for New Money include: insurance products; fixed and variable annuities; 529 College Savings Plans; any retirement accounts including but not limited to IRAs, Keogh, Simple IRAs, and 401(k) Plans; UTMA and UGMA accounts; commercial accounts; and revocable or irrevocable trust accounts and estate accounts.
  • HSBC reserves the right to change or terminate this offer at its sole discretion.
  • For purposes of determining whether you have maintained the Qualifying Balance for the Welcome Deposit, a New Money average balance will be calculated every Friday to derive the average monthly balance throughout the total offer period.
  • Limit one Welcome Deposit per customer, including all individual and joint accounts – the first line name on the joint account is considered the customer for gift purposes.
  • The Welcome Deposit to your HSBC Choice Checking account will be reported on the applicable IRS form.
  • Eligible customers who take advantage of this offer cannot receive any other New Consumer Deposit Offers provided by HSBC Bank USA N.A
  • New Consumer Deposit Offers are defined as incentives in a form of merchandise, cash bonus, and preferred rates on savings accounts and/or CDs that are offered to customers who open an eligible checking account and satisfy qualifying activities.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Choice Checking ($200 Bonus)

This account has a $15 monthly fee, this is waived if you meet either of the following requirements:

  • Receive a direct deposit
  • Have $1,500 in combined personal deposit and investment balances

Advance Checking ($350 Bonus)

This account has a $25 monthly fee, this fee is waived if you maintain linked combined balances of at least $10,000 or at least $5,000 with a recurring direct deposit from a third party to an HSBC advance checking account at least once per monthly cycle.

Premier Checking ($700 Bonus)

This account has a $50 monthly fee, this fee is waived if you have $100,000 or more in combined balances.

Early Account Termination Fee

There is a $25 fee for closing the account within 180 days (Link).

Our Verdict

Last year they offered a bonus of $350 and you could receive this by opening the choice account and paying two bills. This is much better than this bonus, as this bonus requires an advance checking account for the $350 bonus and $10,000 deposited for at least 90 days (plus you need $10,000 to keep the account fee free as well, the other offer only required $1,500 to be kept in the account to be fee free). This does have the higher bonus of $700, but that isn’t seriously worth considering as you need to have $100,000 deposited for 90 days.

Personally I’d just give this bonus a miss, due to the fact that last year they offered such a better bonus but it is better than the recent referral bonuses. If you’re seriously considering going for this bonus, then I’d also recommend reading this post detailing some of the issues with HSBC and getting the bonus. I won’t be adding this to our best bonus page due to the recent history of a better bonus being offered.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

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Please pass on this bonus guys and gals. The headache that goes with HSBC is not worth it. There’s a like four step six week process involved with them including a telephone interview just to open. Just…don’t.

This is not true. If you let them know upfront that you are looking to launder money they will stop asking questions and put you in touch with drug mafia as well. Like most laws in civilized countries, banking laws are meant to harass law abiding citizens while the criminals go scot free. HSBC just does this better than other banks.

Good advice. Being upfront with the bank is always a good idea, especially when doing multi-million $ international wires. HSBC is very helpful. Connected me directly with proper authorities 🙂

Most drug dealers have better sense than to deal with this poor excuse of a bank.

They’re worldwide; International; all over Asia.


Let’s not forget the 1099 fiasco too. How a bank that large screws this up is beyond me.

what happened? i’m still waiting on my 1099-INT for my bonus last year…

Not that i need it. I earned exactly $350 in interest with them last year…

Trust me: listen to Bungy on this one. Ghaad!

I agree. Applied yesterday and it is like getting a FBI security clearance.

I have softened on this bank. They approved me yesterday when I phoned after not hearing anything in 48 hours. The old bat rep sounded like she was 114. She asked if I planned on taking the $350 and running. I demurred. She said: Well, that is what my sisters did! Damn good money!

Did they make you proffer utility bill and proof of address?

Surprisingly no. I skipped that part in the app. because I use my middle name on utility bills and applied with my given name. I called & was told the bills would be sufficient, but never want back to scan them in.

Wish I would have taken your advice Bungy.

OMG, I should’ve taken your advice. I applied almost 1 mo ago unfroze Chex, Equifax (some places use for ID verification), went pending they asked for drivers license and proof of address, fine, I sent those. They didn’t like my water bill as proof of address I send another (power bill), my application is canceled because they cannot verify my address, I called and finally talked to someone who told me it was a mistake, the person processing my application didn’t see my email and denied me! nothing they can do now, it’s already denied, but rest assured just reapply and it will go through. Got home reapplied (by now a month has passed and accounts are frozen again) and was denied again!! this time they apparently could not verify my ID, ugh this is the worst company ever

I had similar experience last year. They ask you to jump through uesless hoops to aliniate new customers. The bait they have there is just not worth the countless hassles.

I didn’t have a good experience either. First I was told that having a credit card automatically disqualified me from receiving the bonus. Then, during the phone call to cancel my application, I was told that I was given incorrect information and I would qualify for the bonus, so I went ahead with the application. It seemed to take forever to open the account and I had to make at least 4 contacts (phone & chat) before the account was finally open. Then, after the account was funded which seemed to take another week, I went ahead and applied to open a Savings Account. For some reason, they now wanted a copy of my Drivers License which wasn’t required when opening the Cking Account. Once again, I had to make over 4 different contacts between phone and chat. Finally I was told I needed to reapply. Well, no thanks. I’m waiting for the transfer to occur and the Cking account to be $0.00 and then I will close it. Also, now when I log in, I have to type in my birth date each time I log in, anyone else?????

Last year I opened accounts for me and SO for $350 bonus. Accounts were easy to open and we got paid within 90 days of account opening. Account was easy to close by phone after six months.

Everyone shares their awful experience, but I had a nice experience.

Yeah same it wasn’t too bad. I’m just waiting for my account closure date to slide out of this little rolling window restriction that they seem to have.

Monday night, Trubiski steamrolls the vikes! skol-no!

Losing to a rookie QB in his NFL debut wouldn’t be the most Vikings thing ever, but it’d be close. Faith in Zimmer though!

I got my bonus last year without any issues. However, given the many data points of people having issues with HSBC, I think William is right not to put this on the best bonus list. I plan to get this bonus for my SO this time around, but I also am going in understanding that it may be a lot more work than most bonuses.

In branch to open account is easy, but online it was crazy, long application, many questions, then phone calls to verify a lot of info…

I did not have the same experience. I opened online, called in right then and got it done. My so opened online, and no call was required. Both of our accounts were easy to open and easy to close.

The gods have blessed you


usbank and beemoharris have more than made up for it.

I am going to apply for the husband too. Should I wait a while?

They sent the debit card in the mail and said the PIN and other needed registration number would arrive separately. It hasn’t so I called and had to hang up after being transferred all over India without resolution. Anyone know how long it takes to get PIN etc in mail? Thanks

This was easy for me last year. I went in-branch and it took about an hour for them to open my account. Time well spent because I had an insightful chat with the banker. They had a CD offer (in-branch only) so my money was earning 1.35% and not 0.0X %. $350 bonus came in on the expected date.

So you can keep all of your money in your CD as long as it’s linked to your checking to avoid any fees, right?

Yes, absolutely

Does opening a 6 month CD work with this bonus?

and also how did you “link” it to checking?

I had the misfortune of having a bank account with HSBC. Worst bank I ever dealt with. They are so incompetent. I will never do business with them of any nature.

These requirements look bad. Last year’s were easier to meet but it was a lot of stress opening accounts for many folks. Mine wasnt that bad but still had a few issues

The link goes to a blank white page for me… maybe their link is not active yet?

Guys, I am going to try to open this year as I was really scared by reading all of your bad experiences last year…I just have one quick question to ask….After keeping $10,000 in ‘Advance Checking’ for 90 days and getting the $350 bonus, can I change/downgrade my account to ‘Choice Checking’ so that I can keep only $1500 balance in Choice Checking account for next 90 days before I can close my account on 181st day?

Workable for other banks such as TD bank. I assume this would work well if you downgrade the account and keep only $1500 at HSBC. By the way, maybe you also want to take a look at their recent released CC after account open. Be sure to freeze Experian before applying and that they would pull EQ since not too many banks pull EQ for CC application review.

correct. i had a pleasant experience with them – they even put a notice on my pace saying, “You’ve completed the reuqiremtns for your $350 bonus!” so i knew i was good.

Where did you see this notice? I am trying to downgrade my account now as I have satisfied the 90 day threshold and I wanna move the money out of the checking account, but I am worried that this may disqualify me from receiving the bonus…

Were you able to downgrade the account?

I was able to downgrade the account but Bonus did not post.. Prior to downgrading I had an online chat with a representative that explicitly stated that I would receive the bonus even if I downgrade, so I filed a CFPB complaint and attached that conversation…

As a frame of referrence, my wife also did the same offer, but she did not downgrade, and her bonus posted within the specified time frame…

Maybe if you downgrade after bonus posts it’d be less hassle. Hope you still get your bonus!

The account for my fiance received the bonus because I kept her open as an Advanced account until the bonus posted, but I wanted to be the DP for others to know whether this method works or not…

Anyways, Just got a response from the CFPB complaint today. Here is a picture of the email I received today…

Thank you so much for sharing this, particularly the HSBC response from the CFPB submission. Glad they issued the courtesy/exception credit.

The requirements language w/r/t an Advanced account is not clear, so this clarification is very helpful for others 🙂

@Bhanna. Was also wondering if when you and your wife downgraded, did they try to charge you an early termination fee (if you downgraded before 180 days were up)?

I think the early termination fee only applies if you close the account, not downgrade the account.

Thanks for bringing your case on this forum. This helped me with the question I had. Can I downgrade after Bonus has posted.

I opened the account on 5/4, completed funding on 5/29. Received Bonus on 9/27. Now I need to take money out for some reason. the account will complete 180 days on 10/31. Am thinking to change the account to HSBC Basic so that paying $3 for the month will be sufficient without any requirement of min balance. Won’t have to close the account any time soon.

Missing a zero for Premier checking: “Deposit a minimum qualifying balance of $100,00”, should be $100,000

Minor typo in the Premier/$750 tier:

“Deposit a minimum qualifying balance of $100,00”

I assume that’s $100,000.

Never honored last time. Called the rep and he agreed that I did everything right. Told me to move on. What a joke HSBC?

I would have filed a complaint with CFPB.
I had to file a complaint against another Big Four bank this year. And I did get my bonus right on time.

Tempted, but data points have me thinking that this is a pass. Churning credit cards & bank accounts is just a hobby imo. Hobbies should decrease your stress, not increase it.

Soft pull??? Applied .Declined in 20 seconds(or less). Approved elsewhere 99% of the time. I decline them!

From last year posts, a lot of people including me got declined due to chex system inquiries. I wonder I should try again this year haha.

I got the following msg:

Your application is currently being reviewed. We may reach out to you within 48 business hours if additional information is required to complete the application process.

Got the $350 bonus last year. But this bank is so incompetent to the point that they totally screwed up the 1099 form. We went into a branch after failing to receive a 1099 from them past deadline, only to be given the completely false answer by the manager claiming that because the bonus posted towards the end of 2016, it would be included in a 2017 1099 form. We ignored that answer and included this bonus in our 2016 tax return anyway. That turned out to be a brilliant decision, as months after the tax filing deadline we received a 1099 from them with a letter admitting that they screwed up and that we should correct the tax return accordingly. It’s good to know that they got fined for this.

Did it last year, so I won’t be eligible. 🙁

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