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	Synchrony Bank
		SPECIAL OFFER High Yield Savings - 4.14% APY - Learn More Read Synchrony Bank Review
	Benefits and Features
Savings	Premier Relationship Savings: 4.15% APY when you link an eligible Premier checking account and meet one of four eligibility criteria (otherwise 0.05% APY)	4.14% 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
CD	3.75% to 4.50% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 4.50%. Minimum deposit of $1,000 to open.	2.25% to 5.00% APY. Terms of 3 months to 5 years. No minimum deposit to open.
Checking	Premier 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		2.24% 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)
ATMs	Any 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 5.00% APY. Terms of 3 months to 5 years. No minimum deposit to open.
IRA Money Market		2.25% APY.
Locations	25 branches in the US; Global presence in more than 64 countries and territories worldwide	Online Only
	CreditDonkey® Reviews
Savings
CD
Checking
Customer Service
Mobile App
Money Market
Pros & Cons	Pros: 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 Line	Full-service global bank ideal for high net worth expats and travelers... Read full review	Good online bank offering high interest rates... Read full review
		High Yield Savings - 4.14% APY Money Market Certificate of Deposit
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 5/28/2023 from published websites and is believed to be accurate, but not guaranteed. Synchrony Bank: Pricing information from published website as of 6/04/2023.

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.