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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.

 Discover BankHSBC Bank
 Visit SiteVisit Site
 

Discover Bank

HSBC Bank

SPECIAL OFFER
Discover Online Savings - $200 Cash Bonus - Learn More

Read Discover Bank Review

SPECIAL OFFER
HSBC $500 Premier Checking Bonus - Learn More

Read HSBC Review

 

Benefits and Features

Savings
0.60% APY
Premier Relationship Savings: 0.50% APY when you link an eligible Premier checking account and meet one of four eligibility criteria (otherwise 0.05% APY)
CD0.20% to 2.15% APY. Terms of 3 months to 10 years. $2,500 minimum0.65% to 1.26% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 1.01%. Minimum deposit of $1,000 to open.
CheckingCashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for detailsPremier 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 Market0.50% APY under $100,000; 0.55% APY $100,000 or more. $2,500 minimum deposit. 
Customer Service
24/7
24/7
ATMs
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 CD12-month CD APY of 1.20%. 24-month CD APY of 1.60%. 5-year CD APY of 2.15%. 
Locations
Online Only
25 branches in the US; Global presence in more than 64 countries and territories worldwide
 

CreditDonkey® Reviews

 Discover BankHSBC Bank
SavingsStarStarStarStarHalf Star
CheckingStarStarStarStarEmpty StarStarStarStarStarStar
Money MarketStarStarStarStarHalf Star
Customer ServiceStarStarStarStarStarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarStar
Pros & ConsPros:
  • High yield
  • No fees
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Pros:
  • Global presence
Cons:
  • Not in every state
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewLarge full-service global bank... Read full review
 Visit SiteVisit Site

HSBC $500 Premier Checking Bonus

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 04/29/2022

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.

Discover Bank
Member FDIC

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, by phone or Discover App). Enter Offer Code CY222 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 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 06/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 6/15/2022
Discover Bank
Member FDIC

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, by phone or Discover App). Enter Offer Code CY222 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 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 06/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

Expires 6/15/2022
Discover Bank
Member FDIC

Online Savings Account - Earn 0.60% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required
HSBC
Member FDIC

HSBC Premier Checking - $500 Welcome Deposit

Expires 6/30/2022
  • Receive a $500 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, using this offer page, by June 30, 2022.
  • Make recurring Qualifying Direct Deposits totaling at least $10,000 per month 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 $500 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: 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 customer service is outstanding. HSBC's checking is excellent.


Articles on Discover Bank

Discover Bank Review

Discover offers high interest rates on its online savings and CD accounts. But there are downsides. Here's what you need to know before you open an account.

Discover Online Savings Account Review

Discover Bank online savings account offers a high interest rates and no monthly fees. But is it the right place for your money? Read on to find out, plus the best way to open an account.

Discover CD

Discover Bank's CD account offers high rates and no hidden fees. But is the term worth it? Read this review before you open a CD.

Is Discover Savings Worth It

Looking for a better place to keep your money safe? Find out if a Discover Online Savings Account is worth it for you.

Discover Savings Bonus

You could earn $150 or $200 when you open a Discover Online Savings Account. Find out how to qualify for this Discover Bank promotion.

Articles on HSBC Bank

HSBC Bank Review

HSBC Bank offers a full array of services for different needs. But there are downsides. Read on for the pros and cons.

HSBC Premier Checking Bonus

HSBC Premier Checking is offering a $500 Welcome Deposit for eligible new customers who open an HSBC Premier checking account with qualifying activities. 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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