HSBC Bank vs Discover Bank
HSBC is a full-service global bank ideal for high net worth expats and travelers. How does it compare to Discover Bank? Read our comparison chart below.
HSBC is a large multi-national bank that focuses on banking and wealth management services for international high net worth clients. With a global presence in over 64 countries, clients will access privileges around the world.
While Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms and have a minimum deposit of $2,500. There are no service fees.
Compare HSBC with Discover Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Visit Site | Visit Site | |
HSBC Bank | Discover Bank | |
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HSBC Premier - | Online Savings Account - Earn 4.25% APY - | |
Benefits and Features | ||
Savings | Premier Relationship Savings: 4.50% APY when you link an eligible Premier checking account and meet one of four eligibility criteria (otherwise 0.05% APY) | |
CD | 4.00% to 4.70% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 4.70%. Minimum deposit of $1,000 to open. | 2.00% to 4.70% APY depending on terms. $2,500 minimum |
Checking | Premier Checking: $50 monthly service fee waived if you maintain a minimum balance of $75,000 in combined HSBC deposit and investment accounts, OR have at least $5,000 in total direct deposits per month. | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details |
Money Market | 4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit. | |
ATMs | Any HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates. | |
Customer Service | ||
IRA CD | 12-month CD APY of 4.70%. 18-month CD APY of 4.40%. 24-month CD APY of 4.00%. 5-year CD APY of 3.75%. | |
Locations | 25 branches in the US; Global presence in more than 64 countries and territories worldwide | |
CreditDonkey® Reviews | ||
Savings | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
Pros & Cons | Pros:
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Bottom Line | Full-service global bank ideal for high net worth expats and travelers... | Solid online bank with high APY rates and good customer service... |
Visit Site | Visit Site | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. HSBC: Data points including rates, fees, terms, and benefits was obtained on 04/11/2024 from published websites and is believed to be accurate, but not guaranteed. Discover Bank: Pricing information and data points from published website as of 04/09/2024. |
Online Savings Account - Earn 4.25% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Online Checking Account - Earn Cash Back
- 1% cash back on up to $3,000 in debit card purchases each month. See website for details
- No fees
- Early Pay - Get your paycheck up to two days early with no charge
- No credit impact - You can apply without affecting your credit score.
- Access to over 60,000 no-fee ATMs in the U.S.
Discover® Cashback Checking – Up to $30/Month Cashback
Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.
Which is Better: HSBC or Discover Bank?
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