Discover Bank vs HSBC Bank
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to HSBC? Read our comparison chart below.
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.
While 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.
Compare Discover Bank with HSBC, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Discover Bank | HSBC Bank | |
|---|---|---|
Discover Online Savings - $200 Cash Bonus - | ||
Benefits and Features | ||
| Savings | Premier Relationship Savings: 4.15% APY when you link an eligible Premier checking account and meet one of four eligibility criteria (otherwise 0.05% APY) | |
| CD | 2.00% to 4.75% APY depending on terms. $2,500 minimum | 3.75% to 4.50% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 4.50%. Minimum deposit of $1,000 to open. |
| Checking | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details | 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. |
| Money Market | 3.80% APY under $100,000; 3.85% APY $100,000 or more. $2,500 minimum deposit. | |
| Customer Service | ||
| ATMs | Any HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates. | |
| IRA CD | 12-month CD APY of 4.75%. 24-month CD APY of 4.30%. 5-year CD APY of 4.00%. | |
| Locations | 25 branches in the US; Global presence in more than 64 countries and territories worldwide | |
CreditDonkey® Reviews | ||
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| Mobile App | | |
| CD | | |
| Pros & Cons | Pros:
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| Bottom Line | Solid online bank with high APY rates and good customer service... | Full-service global bank ideal for high net worth expats and travelers... |
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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Discover Bank: Pricing information and data points from published website as of 05/29/2023. HSBC: Data points including rates, fees, terms, and benefits was obtained on 5/28/2023 from published websites and is believed to be accurate, but not guaranteed. | ||
Discover Online Savings - $200 Cash Bonus
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code CY223 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Discover Online Savings - $150 Cash Bonus
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code CY223 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 6/15/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Online Savings Account - Earn 3.90% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Which is Better: Discover Bank 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 Discover Bank or Chase.
In short: Discover Bank's checking, customer service, and mobile app are worth mentioning. In particular, the customer service and mobile app are outstanding.
Articles on Discover Bank
Discover Bank Review
Discover Online Savings Account Review
Discover CD
Is Discover Bank a Good and Real Bank
Is Discover Savings Worth It
Discover Savings Bonus
Articles on HSBC Bank
HSBC Bank Review
HSBC Premier Checking Bonus
HSBC Advance Checking
HSBC Premier Checking
Which Do You Think is Best?
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