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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 over 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.

 CitibankHSBC Bank
 Learn MoreVisit Site
 

Citibank

HSBC Bank

OFFER
Citi Priority Account - Up to $1,500 Cash Bonus - Learn More

Read Citibank Review

SPECIAL OFFER
HSBC $450 Premier Checking Bonus - Learn More

Read HSBC Review

 

Benefits and Features

SavingsCitiĀ® Accelerate High-Yield Savings available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois.HSBC Direct Savings: 0.15% APY. $1 minimum opening deposit and no monthly service fee. Deposit checks easily by taking a picture with your phone using HSBC Mobile Banking.
CD
Check
0.20% to 0.30% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 0.30%. Minimum deposit of $1,000 to open.
CheckingCiti Priority Account 0.03% Annual Percentage Yield (APY)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 Market
Check
 
Customer Service24/7 Live Customer Service (Telephone)
24/7
ATMsMore than 65,000 fee-free ATMs at Citibank branches and participating retail locations nationwide, including Target, CVS Pharmacy, Rite aid, Walgreens, Duane Reade and ATMs displaying Allpoint or MoneyPass logo.Any HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates.
IRA CD
Check
 
IRA Money Market
Check
 
LocationsMore than 700 Citibank branches (concentrated in New York, Chicago, Los Angeles, San Francisco, Washington DC and Miami)HSBC - 240+ branches, mostly on the West and East coasts
HSBC Direct - online only
 

CreditDonkey® Reviews

 CitibankHSBC Bank
SavingsStarStarStarEmpty StarEmpty StarStarStarStarStarEmpty Star
CDStarStarStarEmpty StarEmpty Star
CheckingStarStarStarEmpty StarEmpty StarStarStarStarStarStar
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarHalf Star
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

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 09/15/2021. This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

HSBC: Data points including rates, fees, terms, and benefits was obtained on December 20, 2020 from published websites and is believed to be accurate, but not guaranteed.

HSBC
Member FDIC

HSBC Premier Checking - $450 Welcome Deposit

Expires 1/5/2022
  • Get a $450 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities.
  • Open your new HSBC Premier checking account online by January 5, 2022; and
  • Make recurring monthly Qualifying Direct Deposits totaling at least $5,000 from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening.
  • You will automatically receive the $450 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It's that simple.
  • Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

Which is Better: Citibank or HSBC?

Still need help deciding which bank reviews & deals 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 notable. In particular, the checking is excellent.


Articles on Citibank

Citibank

Citibank offers credit cards and banking services. But service fees and balance requirements are on the high side. Is it the right bank for you? Read this review to find out.

Citi High Yield Savings

Citi now offers high-yield savings with one of the best interest rate. But it's only available in select markets. Read this review to see if it's good for you.

Citibank Routing Number

Looking to transfer money in or out of your Citibank checking or savings account? Find your Citibank routing number and learn about money transfers below.

Articles on HSBC Bank

HSBC Reviews

HSBC Bank offers a full array of services for different needs, including a high-yield online savings and several checking options. But there are downsides. Read on for the pros and cons.

HSBC Savings Account

Are you tired of abysmal interest rates on your savings accounts? Maybe you've even abandoned the thought of a savings account because it just doesn't seem worth it anymore.

HSBC Premier Checking Bonus

HSBC Premier Checking is offering $450 cash bonus . Find out how to qualify for this promotion.

HSBC Advance Checking

Are you tired of not earning interest on your checking account? Maybe you want more than just check writing privileges in exchange for depositing your money. HSBC Advance Checking may make you look at banks in a different light.

HSBC Premier Checking

Are you looking for a checking account that does more than allow you to write checks? If you are a high net worth individual, the HSBC Premier Checking account may be what you need. This top-of-the-line checking account offers access to a personal Relationship Manager.

Which Do You Think is Best?





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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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