HSBC Bank vs Citibank
HSBC is a large full-service global bank. How does it compare to Citibank? 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 Citibank has 700 branches across the U.S. Accounts must be opened as a checking & savings package. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.
Compare HSBC with Citibank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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HSBC Bank | Citibank | |
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HSBC $200 Advance Checking Bonus - | Citi Accelerate Savings Account - 0.50% APY - | |
Benefits and Features | ||
Savings | HSBC 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. | 0.04% - 0.15% APY. No minimum deposit. $4.50 monthly fee unless you maintain an average monthly balance of $500. |
CD | 0.30% to 0.40% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 0.40%. Minimum deposit of $1,000 to open. | 0.05% - 0.25% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets. |
Checking | Basic 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. | |
Money Market | A.k.a 'Savings Plus' Account. 0.01% - 0.10% APY. Minimum opening deposit $100. | |
Customer Service | 24/7 Live Customer Service (Telephone) | |
ATMs | Any HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates. | 2400 ATMs across the country. Citibank also works at all MoneyPass ATMs, which means access to over 60,000 no-fee ATMs. |
IRA CD | Can convert an IRA to a regular CD account. 0.05% - 0.25% APY. Terms ranging from 3 months to 5 years. Minimum opening deposit is $1,000 in CA, and NV, $2,500 in MD, DC, VA, and FL, $500 in all other markets. | |
IRA Money Market | Can convert an IRA account to a regular Money Market account. 0.01% - 0.10% APY. Minimum opening deposit $100. | |
Locations | HSBC - 240+ branches, mostly on the West and East coasts HSBC Direct - online only | 700 Citibank branches across 13 states (mostly in California and New York) |
CreditDonkey® Reviews | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
CD | ![]() ![]() ![]() ![]() ![]() | |
Mobile App | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
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Bottom Line | Large full-service global bank... | Large national bank best for high balance customers... |
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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 December 20, 2020 from published websites and is believed to be accurate, but not guaranteed. Citibank: Pricing information from published website as of 2/24/2021. |
Which is Better: HSBC or Citibank?
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 checking are notable. In particular, the checking is excellent.