HSBC Bank vs Bank of America

HSBC is a full-service global bank ideal for high net worth expats and travelers. How does it compare to Bank of America? 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 Bank of America is one of the largest banks in the U.S. with approximately 4,300 locations and 17,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

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

	HSBC Bank	Bank of America
	Member FDIC	Member FDIC
	Learn More	Visit Site
	SPECIAL OFFER Referral Program - Up to $6,000 Bonus - Learn More Read HSBC Review	SPECIAL OFFER Bank of America Business Advantage Checking Account - $200 Bonus Offer - Learn More Read Bank of America Review
	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	4.50% to 5.00% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 5.00%. Minimum deposit of $1,000 to open.
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.
Customer Service	24/7	Mon-Fri: 8am - 9pm (ET) Sat: 8am - 8pm (ET) Sun: 8am - 5pm (ET)
ATMs	Any HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates.	Approximately 16,000+ ATMs
IRA CD
Locations	25 branches in the US; Global presence in more than 64 countries and territories worldwide	Approximately 3,900 retail financial centers
	CreditDonkey® Reviews

Savings
CD
Checking
Customer Service
Mobile App
Pros & Cons	Pros: Global presence Transfer money globally Priority customer service Cons: Limited US presence High account minimums	Pros: Large branch network Extended service hours Full service banking Cons: Monthly fees Low interest rates Many misc. banking fees
Bottom Line	Full-service global bank ideal for high net worth expats and travelers... Read full review	National bank with widespread accessibility and wide range of services... Read full review
	Learn More	Visit Site
	Referral Program - Up to $6,000 Bonus	Bank of America Business Advantage Checking Account - $200 Bonus Offer Bank of America Advantage Banking - $200 Bonus Offer Bank of America Advantage SafeBalance Banking®
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 11/26/2023 from published websites and is believed to be accurate, but not guaranteed. Bank of America: Pricing information from published website as of 11/24/2023 based on 91107 zip code.

Member FDIC

Bank of America Business Advantage Checking Account - $200 Bonus Offer

Learn More

Expires 12/31/2023

Earn a cash bonus in three steps:

Open a new eligible business checking account by December 31, 2023
Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**

*Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC

Member FDIC

Business Advantage Fundamentals™ Banking

No fee for first 200 transactions per statement cycle
No fee for first $7,500 in cash deposited per statement cycle
Waive the $16 monthly fee in a variety of ways

Learn More

Member FDIC

Business Advantage Relationship Banking

No fee for first 500 transactions per statement cycle
No fee for first $20,000 in cash deposited per statement cycle
Waive the $29.95 monthly fee by maintaining a $15,000 combined average monthly balance

Learn More

Which is Better: HSBC or Bank of America?

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

In short: HSBC's savings and cd are notable. Bank of America's checking and mobile app are noteworthy.

Articles on HSBC Bank

HSBC Bank

HSBC Bank offers a global banking account ideal for those who live and work overseas. Is it right for your needs? Read on for the pros and cons.

HSBC vs Citibank

HSBC Premier Checking Bonus

HSBC Premier Checking is offering a $500 Welcome Deposit for eligible new customers who open an account with qualifying activities. Find out how to qualify for this promotion.

HSBC Premier Checking

If you work, live, or travel abroad, the HSBC Premier Checking account may be what you need. Read on to see if this global checking account is right for you.