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Citibank vs HSBC Bank

Citibank is a large national bank best for high balance customers. How does it compare to HSBC? Read our comparison chart below.

Citibank has 700 branches across the U.S. Accounts must be opened as a checking & savings package. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.

While HSBC is a large multi-national bank and offers several checking accounts for different needs. HSBC Direct is the online banking operation and offers high interest savings for just $1 minimum deposit with no service fees.

Compare Citibank with HSBC, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 HSBC Bank
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Citibank

HSBC Bank

SPECIAL OFFER
Citi Accelerate Savings Account - 1.10% APY - Learn More

Read Citibank Review

SPECIAL OFFER
HSBC Advance Checking - Up to $240 Cash Bonus - Learn More

Read HSBC Review

 

Benefits and Features

Savings0.04% - 0.15% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500.HSBC Direct Savings: 0.70% APY. $1 minimum opening deposit and no monthly service fee. Deposit checks easily by taking a picture with your phone using HSBC Mobile Banking.
CD0.10% - 0.40% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets.0.60% to 0.70% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 0.70%. Minimum deposit of $1,000 to open.
Checking Basic Banking: no minimum requirements; $1 monthly service fee
Choice Checking: $15 monthly service fee waived if you set up direct deposit OR maintain a minimum monthly balance of $1,500
Advance Checking: $25 monthly service fee waived if you maintain a minimum monthly balance of $5,000 in combined HSBC deposit and investment accounts.
Premier Checking: $50 monthly service fee waived if you maintain a minimum monthly balance of $75,000 in combined HSBC deposit and investment accounts.
Money MarketA.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100. 
Customer Service24/7 Live Customer Service (Telephone)
24/7
ATMs2400 ATMs across the country. Citibank also works at all MoneyPass ATMs, which means access to over 60,000 no-fee ATMs.Any HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates.
IRA CDCan convert an IRA to a regular CD account. 0.10% - 0.40% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets. 
IRA Money MarketCan convert an IRA account to a regular Money Market account. 0.01% - 0.10% APY. Minimum opening deposit $100. 
Locations700 Citibank branches across 13 states (mostly in California and New York)HSBC - 240+ branches, mostly on the West and East coasts
HSBC Direct - online only
 

CreditDonkey® Reviews

 HSBC Bank
Savings
CD
Checking
Customer Service
Mobile App
Pros & ConsPros:
  • Perks for high balance customers
  • Many fee-free ATMs
  • Global presence
Cons:
  • No free checking option
  • Higher balance requirements
  • Low savings APY
Pros:
  • Global presence
  • High online savings APY
Cons:
  • Not in every state
Bottom LineLarge national bank best for high balance customers... Read full reviewLarge full-service global bank... Read full review
 Learn MoreVisit Site
What Others View

    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

    Citibank: Pricing information from published website as of 08/05/2020.

    HSBC: Information including rates, fees, terms, and benefits was obtained on May 4, 2020 from published websites and is believed to be accurate, but not guaranteed.

    Which is Better: Citibank or HSBC?

    Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing Citibank or Chase.

    In short: HSBC's savings and checking are excellent.


    Articles on Citibank


    Articles on HSBC Bank


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