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HSBC Bank vs Charles Schwab Bank

HSBC is a large full-service global bank. How does it compare to Charles Schwab Bank? Read our comparison chart below.

HSBC is a large multi-national bank and offers several checking accounts for different needs. HSBC Direct is the online banking operation and offers high interest savings for just $1 minimum deposit with no service fees.

While Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it.

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

 HSBC Bank
 Visit SiteLearn More
 

HSBC Bank

Charles Schwab Bank

SPECIAL OFFER
HSBC $450 Premier Checking Bonus - Learn More

Read HSBC Review

SPECIAL OFFER
High Yield Investor Checking – Unlimited ATM Rebates - Learn More

Read Charles Schwab Bank Review

 

Benefits and Features

SavingsHSBC Direct Savings: 0.15% APY. $1 minimum opening deposit and no monthly service fee. Deposit checks easily by taking a picture with your phone using HSBC Mobile Banking.
0.05% APY
CD0.20% to 0.30% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 0.30%. Minimum deposit of $1,000 to open.Offers brokered CDs from other banks. Terms range from 1 month to 20 years. Minimum deposit of $1,000.
CheckingBasic Banking: no minimum requirements; $1 monthly service fee
Choice Checking: $15 monthly service fee waived if you set up direct deposit OR maintain a minimum monthly balance of $1,500
Advance Checking: $25 monthly service fee waived if you maintain a minimum monthly balance of $5,000 in combined HSBC deposit and investment accounts.
Premier Checking: $50 monthly service fee waived if you maintain a minimum monthly balance of $75,000 in combined HSBC deposit and investment accounts.
0.03% APY, $0.01 account minimum
Customer Service
24/7
24/7 Live Customer Service (Telephone and Chat)
ATMsAny HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates.Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide.
LocationsHSBC - 240+ branches, mostly on the West and East coasts
HSBC Direct - online only
345 branches across the country. You may also open an account online.
 

CreditDonkey® Reviews

 HSBC Bank
SavingsStarStarStarStarEmpty StarStarStarStarStarEmpty Star
CheckingStarStarStarStarStarStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarHalf Star
Mobile AppStarStarStarStarEmpty Star
Pros & ConsPros:
  • Global presence
  • High online savings APY
Cons:
  • Not in every state
Pros:
  • No account minimum
  • No service fees
  • Refund all ATM fees
Cons:
  • Only checking or savings
  • Must do banking online
Bottom LineLarge full-service global bank... Read full reviewPopular brokerage with a free checking account that refunds ATM fees... Read full review
 Visit SiteLearn More

High Yield Investor Checking – Unlimited ATM Rebates

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.

Charles Schwab Bank: Pricing information from published website as of 07/23/2020.

HSBC
Member FDIC

HSBC Premier Checking - $450 Welcome Deposit

Expires 8/31/2021
  • Get a $450 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 by August 31, 2021; and
  • Make recurring monthly Qualifying Direct Deposits totaling at least $5,000 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 $450 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: HSBC or Charles Schwab Bank?

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 checking is excellent.


Articles on HSBC Bank

HSBC Reviews

HSBC Bank offers a full array of services for different needs, including a high-yield online savings and several checking options. But there are downsides. Read on for the pros and cons.

HSBC Direct Savings

Are you tired of abysmal interest rates on your savings accounts? Maybe you've even abandoned the thought of a savings account because it just doesn't seem worth it anymore.

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.

Articles on Charles Schwab Bank

Charles Schwab Bank Review

Charles Schwab is more than a brokerage. It also offers high yield checking and savings interest rates that might far surpass your local bank. Read on to learn the pros and cons.

Charles Schwab Routing Number

You'll need the right routing number to transfer money in or out of your Charles Schwab bank account. Find yours and learn more about money transfers in our guide.

Which Do You Think is Best?





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