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HSBC Bank vs Wells Fargo

HSBC is a large full-service global bank. How does it compare to Wells Fargo? 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 Wells Fargo is one of America's largest banks with over 5,400 locations and 13,000 ATMs. Offers many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.

Compare HSBC with Wells Fargo, side-by-side. Read on for an in-depth look, including ratings and reviews.

 HSBC Bank
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HSBC Bank

Wells Fargo

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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.0.01% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, or are under the age of 18.
CD0.50% to 0.60% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 0.60%. Minimum deposit of $1,000 to open.Standard Term CD: 0.01% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Special CD: 0.01% APY. Terms of 5 months. Minimum deposit of $5,000. Bonus of up to 0.02% APY if you maintain a linked Portfolio by Wells Fargo relationship.
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 Also known as the Platinum Savings Account. 0.01% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 0.02% requires account linked to Portfolio by Wells Fargo relationship.
Customer Service
24/7
Available 24 hours a day, 7 days a week.
ATMsAny HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates.More than 13,000 ATMs across the country.
IRA CD Standard Term CD: 0.01% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Special CD: 0.01% APY. Terms of 5 months. Minimum deposit of $2,500. Bonus of up to 0.02% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account.
IRA Money Market 0.01% APY. $100 minimum opening deposit.
LocationsHSBC - 240+ branches, mostly on the West and East coasts
HSBC Direct - online only
Approximately 5,400 retail banking branches coast to coast.
 

CreditDonkey® Reviews

 HSBC Bank
Savings
Checking
Customer Service
Pros & ConsPros:
  • Global presence
  • High online savings APY
Cons:
  • Not in every state
Bottom LineLarge full-service global bank... Read full review 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.

Wells Fargo: Pricing information from published website as of 09/17/2020 based on 91107 zip code.

Which is Better: HSBC or Wells Fargo?

Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing HSBC or Chase.


Articles on HSBC Bank


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