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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.

 
Member FDIC
Bank of America
Member FDIC
 Learn MoreVisit Site
 

HSBC Bank

Bank of America

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

SavingsPremier Relationship Savings: 4.50% APY when you link an eligible Premier checking account and meet one of four eligibility criteria (otherwise 0.05% APY)
Check
CD4.50% 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.
Check
CheckingPremier 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.
Check
Customer Service
24/7
  • Mon-Fri: 8am - 9pm (ET)
  • Sat: 8am - 8pm (ET)
  • Sun: 8am - 5pm (ET)
ATMsAny HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates.
Approximately 16,000+ ATMs
IRA CD 
Check
Locations25 branches in the US; Global presence in more than 64 countries and territories worldwideApproximately 3,900 retail financial centers
 

CreditDonkey® Reviews

 Bank of America
SavingsStarStarStarStarEmpty StarStarStarEmpty StarEmpty StarEmpty Star
CDStarStarStarStarHalf StarStarStarStarHalf StarEmpty Star
CheckingStarStarStarEmpty StarEmpty StarStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Mobile AppStarStarStarEmpty StarEmpty StarStarStarStarStarHalf Star
Pros & ConsPros:
  • 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 LineFull-service global bank ideal for high net worth expats and travelers... Read full reviewNational bank with widespread accessibility and wide range of services... Read full review
 Learn MoreVisit Site

Referral Program - Up to $6,000 Bonus

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.

Bank of America
Member FDIC

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

Expires 12/31/2023
Earn a cash bonus in three steps:
  1. Open a new eligible business checking account by December 31, 2023
  2. Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
  3. 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
Bank of America
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
Bank of America
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

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 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.

Articles on Bank of America

Bank of America Review

Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on.

How to Close a Bank of America Account

Want to close your Bank of America account? Learn how and what you need to do before you close your account.

Bank of America Hours

Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below.

Bank of America Routing Number

Find your Bank of America routing number and learn about money transfers in our guide.

Which Do You Think is Best?





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CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

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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