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.
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Learn More | Visit Site | |
HSBC Bank | Bank of America | |
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Referral Program - Up to $6,000 Bonus - | Bank of America Business Advantage Checking Account - $200 Bonus Offer - | |
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 |
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ATMs | Any HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates. | |
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 | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
CD | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Pros & Cons | Pros:
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Bottom Line | Full-service global bank ideal for high net worth expats and travelers... | National bank with widespread accessibility and wide range of services... |
Learn More | Visit Site | |
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 Business Advantage Checking Account - $200 Bonus Offer
- 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**
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
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
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.