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HSBC Bank vs Synchrony Bank

HSBC is a full-service global bank ideal for high net worth expats and travelers. How does it compare to Synchrony Bank? 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 Synchrony Bank offers high interest savings with an ATM card for easy withdrawals. There is no minimum deposit. Their CDs require a $2,000 minimum deposit to open. There are no service fees for any products.

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

 HSBC Bank
 Visit SiteLearn More
 

HSBC Bank

Synchrony Bank

SPECIAL OFFER
HSBC $500 Premier Checking Bonus - Learn More

Read HSBC Review

SPECIAL OFFER
High Yield Savings - 3.25% APY - Learn More

Read Synchrony Bank Review

 

Benefits and Features

SavingsPremier Relationship Savings: 3.00% APY when you link an eligible Premier checking account and meet one of four eligibility criteria (otherwise 0.05% APY)3.25% APY. No monthly service fee and no minimum deposit. An ATM card is provided for easy withdrawal. Synchrony will refund ATM fees for other banks up to $5 per statement cycle
CD3.50% to 4.50% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 4.25%. Minimum deposit of $1,000 to open.2.25% to 4.75% APY. Terms of 3 months to 5 years. No minimum deposit to open.
CheckingPremier 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. 
Money Market 2.00% APY. No monthly service fee and no minimum deposit.
Customer Service
24/7
Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET)
ATMsAny HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates.Any ATMs with Plus or Accel logos
IRA CD 2.25% to 4.75% APY. Terms of 3 months to 5 years. No minimum deposit to open.
IRA Money Market 2.00% APY.
Locations25 branches in the US; Global presence in more than 64 countries and territories worldwide
Online Only
 

CreditDonkey® Reviews

 HSBC Bank
SavingsStarStarStarStarEmpty StarStarStarStarStarStar
CDStarStarStarStarHalf Star
CheckingStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Mobile AppStarStarStarEmpty StarEmpty Star
Money MarketStarStarStarStarEmpty Star
Pros & ConsPros:
  • Global presence
  • Transfer money globally
  • Priority customer service
Cons:
  • Limited US presence
  • High account minimums
Pros:
  • Savings with ATM card
  • High APY
  • All balance tiers receive same rate
Cons:
  • No checking account
  • Limited customer service hours
Bottom LineFull-service global bank ideal for high net worth expats and travelers... Read full reviewGood online bank offering high interest rates... Read full review
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HSBC $500 Premier Checking Bonus

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 November 9, 2022 from published websites and is believed to be accurate, but not guaranteed.

Synchrony Bank: Pricing information from published website as of 11/19/2022.

HSBC
Member FDIC

HSBC Premier Checking - $500 Welcome Deposit

Expires 2/15/2023
  • Receive a $500 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, using this offer page, by February 15, 2023.
  • Make recurring Qualifying Direct Deposits totaling at least $10,000 per month 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 $500 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 Synchrony 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: Synchrony Bank's savings is excellent.


Articles on HSBC Bank

HSBC Bank Review

HSBC Bank offers a global banking account ideal for those who live and work overseas. Is it right for your needs? Read on for the pros and cons.

HSBC Premier Checking Bonus

HSBC Premier Checking is offering a $500 Welcome Deposit for eligible new customers who open an account with qualifying activities. Find out how to qualify for this promotion.

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

If you work, live, or travel abroad, the HSBC Premier Checking account may be what you need. Read on to see if this global checking account is right for you.

Articles on Synchrony Bank

Synchrony Bank Review

Synchrony offers some of the highest savings and CD rates. But there are downsides. Read this review before you open an account.

Which Do You Think is Best?





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