HSBC Bank vs Synchrony Bank
HSBC is a large full-service global bank. How does it compare to Synchrony 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 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.
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HSBC Bank | Synchrony Bank | |
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HSBC $200 Advance Checking Bonus - | High Yield Savings - 0.60% 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. | 0.60% 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 | 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. | 0.15% to 0.80% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open. |
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 | 0.50% APY. No monthly service fee and no minimum deposit. | |
Customer Service | 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 | 0.15% to 0.80% APY. Terms of 3 months to 5 years. Minimum deposit of $2,000 to open. | |
IRA Money Market | 0.50% APY. | |
Locations | HSBC - 240+ branches, mostly on the West and East coasts HSBC Direct - online only | |
CreditDonkey® Reviews | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Checking | ![]() ![]() ![]() ![]() ![]() | |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Money Market | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
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Bottom Line | Large full-service global bank... | Good online bank offering high interest rates... |
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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. Synchrony Bank: Pricing information from published website as of 1/16/2021. |
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.
Articles on HSBC Bank
HSBC Bank Review
HSBC Direct Savings
HSBC Advance Checking
HSBC Premier Checking
Articles on Synchrony Bank
Synchrony Bank Review
Which Do You Think is Best?
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