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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 $450 Premier Checking 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: 0.15% APY. $1 minimum opening deposit and no monthly service fee. Deposit checks easily by taking a picture with your phone using HSBC Mobile Banking.0.01% - 0.02% APY. Monthly service fee of $7.50 unless you 1) maintain a minimum daily balance of $500 or more or, 2) have a personal checking account with M&T Bank or, 3) make at least one deposit in your Relationship Savings account
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.0.05% 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 0.02% APY, Premium rate of 0.02% 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
SavingsStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
CheckingStarStarStarStarStarStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
CDStarStarStarEmpty StarEmpty Star
Money MarketStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarHalf StarEmpty Star
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: 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.

M&T Bank: Pricing information from published website as of 5/14/2021. based on 14203 zip code

Which is Better: HSBC or M&T 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 savings and checking are notable. In particular, the checking is excellent.


Articles on HSBC Bank

HSBC Bank Review

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 Online 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 M&T Bank

M&T Bank Review

If you are on the upper East Coast, you probably see M&T Bank frequently. With a free checking option and a range of deposit accounts, does it meet your needs?

Which Do You Think is Best?





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