[Expired] HSBC Direct 1..01% APY Savings Account + $125 Slickdeals Bonus

Deal has ended, view more bank account bonuses by clicking here.

Rate reduced to 1.01%

Update 5/20/20: Deal is back with this link. Hat tip to reader Burton

Offer at a glance

  • Interest Rate: 1.01% APY
  • Minimum Balance: None
  • Maximum Balance: None
  • Availability: Nationwide
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: $25, 180 days
  • Insured: FDIC

The Offer

Direct link to offer

 

Avoiding Fees

This account has no monthly fees to worry about. There is an early account termination fee of $25 if the account is closed within 180 days.

Our Verdict

1.30% APY isn’t the highest yield savings account currently being offered, but it is close to. That being said this account might be of interest to some readers because HSBC is also offering a checking bonus of up to $700. To get the highest bonus you need to deposit up to $100,000 and even though this account is HSBC direct rather than HSBC apparently funds in this account do qualify for the bonus (and also help to keep it fee free). That makes that offer significantly more attractive.

You should be able to do this deal and the checking bonus deal, I’d recommend opening the checking bonus first just in case you can only do one of these, as those bonuses are bigger.

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515 Comments
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William
William (@guest_1155674)
March 8, 2021 10:11

Anyone got 1099 for this deal from either HSBC or Slickdeals?

Yu
Yu (@guest_1145245)
February 15, 2021 12:27

Are we supposed to get 1099 for this one?

Dean
Dean (@guest_1146498)
February 17, 2021 22:58
  Yu

Good question. I don’t have any 1099 in my “documents” yet at HSBC. Kinda thinking no?

Jeff
Jeff (@guest_1151511)
February 27, 2021 10:45
  Yu

Just report it from HSBC. It’s only $125. I wouldn’t want to risk an audit.

Andrew
Andrew (@guest_1151757)
February 27, 2021 23:11

Report it from HSBC, not Slickdeals?

Benjii
Benjii (@guest_1152191)
February 28, 2021 20:21

working on my taxes right now and thinking the same. I’d assume we would put down ‘Slickdeals’, but now idea where to find their Payer federal ID number. Also read in the slickdeals comments that it would be considered a rebate and therefore isn’t taxable.. idk

stingerzing
stingerzing (@guest_1103616)
December 5, 2020 13:47

I am also with the group of folks who after 4 months of e-mails got the bonus. What a PITA

Dean
Dean (@guest_1103355)
December 4, 2020 19:09

Finally got the bonus today. Opened the account end-April; started pestering Slickdeals in early October. Now to chase down US Bank …

Davis
Davis (@guest_1069533)
October 7, 2020 13:43

Finally got the bonus after being a month past the 60 business days. Had to email slickdeals a bunch

Ryan
Ryan (@guest_1069558)
October 7, 2020 14:20

This was the case for me as well. I had to send 3 e-mails.

Nav
Nav (@guest_1049665)
September 6, 2020 09:16

After multiple back and forth emails, finally got the bonus.

5/15: Applied Account for P1. did not get any response from HSBC till 05/25.
5/25: Applied Another Account for P1.
5/25: Applied Account for P2. Account approved next day.
5/28: Both the accounts approved for P1.
06/15: SD bonus $125 posted for First Account for P1.
07/01: SD bonus $125 posted for second account for P1.
07/12: SD bonus $125 Posted for P2.

Michael
Michael (@guest_1042771)
August 25, 2020 13:05

Has anyone been able to close the account early without paying the early termination fee?

mothman69
mothman69 (@guest_1039410)
August 19, 2020 19:29

4/21 – HSBC account opened
7/16 – reached out to Slickdeals support via email as to why I hadn’t received the bonus yet (60 business days had passed)
7/27 – finally got a reply back from Slickdeals requesting more documentation on my HSBC account, so I sent them the info
8/5 – got a reply back from Slickdeals that they forwarded my info for review and I should see bonus within 2 weeks
8/19 – still no bonus (after two weeks), so sent another email to Slickdeals support letting them know it had been 2 weeks…5hrs later I get a Paypal notification of $125 HSBC bonus payment

Simon
Simon (@guest_1039414)
August 19, 2020 19:31

Congrats! I know it must have been excruciating to read dozens of other DPs while your case is being dragged out month after month for no good reason.

Simon
Simon (@guest_1039064)
August 19, 2020 11:58

After multiple back and forth emails, finally got the bonus.

5/18: approved at HSBC
8/19: SD bonus $125 posted

zeer0
zeer0 (@guest_1033655)
August 10, 2020 15:21

Super easy to close the account via chat. Didn’t even need to zero out the balance, they will send it as a check when closing.

Simon
Simon (@guest_1039065)
August 19, 2020 11:59

What about the ETF $25 for closing within 180 days?