[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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William
William

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

Yu
Yu

Are we supposed to get 1099 for this one?

Dean
Dean

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

Jeff
Jeff

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

Andrew
Andrew

Report it from HSBC, not Slickdeals?

Benjii
Benjii

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

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

Dean
Dean

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

Davis
Davis

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

Ryan
Ryan

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

Nav
Nav

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

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

mothman69
mothman69

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

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

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

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

zeer0
zeer0

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

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