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HSBC Bank vs M&T Bank

HSBC is a large full-service global bank. How does it compare to M&T 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 M&T Bank has 690 branches serving the Upper East Coast and Florida. Offers a no-fee checking, as well as interest checking but with heavier requirements to waive service fees. Select Promo CD offers high rates for terms up to 36 months with a $1,000 minimum opening deposit.

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

 HSBC Bank
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HSBC Bank

M&T Bank

SPECIAL OFFER
HSBC Advance Checking - Up to $240 Cash Bonus - Learn More

Read HSBC Review

SPECIAL OFFER
Personal Checking Account - Up to $250 Bonus - Learn More

Read M&T Bank Review

 

Benefits and Features

SavingsHSBC Direct Savings: 0.50% APY. $1 minimum opening deposit and no monthly service fee. Deposit checks easily by taking a picture with your phone using HSBC Mobile Banking.0.02% APY. Monthly service fee of $7.50 unless you 1) maintain a minimum daily balance of $500 or, 2) have a personal checking account with M&T Bank or, 3) make at least one deposit in your Relationship Savings account
CD0.40% to 0.50% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 0.50%. Minimum deposit of $1,000 to open.0.10% APY. Terms of 24 months. Minimum opening deposit $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.
 
Money Market M&T MyChoice Money Market account Regular rate of 0.03% - 0.10% APY, Premium rate of 0.03% - 0.10% APY for qualifying customers.
Customer Service
24/7
Mon - Fri 8:00 am - 9:00 pm (ET); Sat - Sun 9:00 am - 5:00 pm (ET).
ATMsAny HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates.More than 1,800 M&T Bank ATMs in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia.
LocationsHSBC - 240+ branches, mostly on the West and East coasts
HSBC Direct - online only
690 bank branches located throughout New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, West Virginia and Florida
 

CreditDonkey® Reviews

 HSBC Bank
Savings
Checking
Customer Service
CD
Money Market
Mobile App
Pros & ConsPros:
  • Global presence
  • High online savings APY
Cons:
  • Not in every state
Pros:
  • Free checking option
  • High APY for Promo CD
  • Free savings with checking
Cons:
  • Fee heavy
  • Subpar savings APY
  • Limited branches
Bottom LineLarge full-service global bank... Read full reviewUpper East Coast bank with free checking option and good promo CD rates... Read full review
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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: Information including rates, fees, terms, and benefits was obtained on May 4, 2020 from published websites and is believed to be accurate, but not guaranteed.

M&T Bank: Pricing information from published website as of 10/29/2020 based on 14203 zip code

Which is Better: HSBC or M&T Bank?

Still need help deciding which bank 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 excellent.


Articles on HSBC Bank


Articles on M&T Bank


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