HSBC Checking Account Bonus

HSBC has two separate checking account bonuses that can earn you $350 or $475, depending on which account you open. This new bonus is not as good as previous offers. This offer ends March 29, 2020.

Offers

To qualify for the HSBC Premier $475 Welcome Deposit you must:

• open your new HSBC Premier checking account from January 7, 2020 through and including March 29, 2020; and
• make recurring Direct Deposits totaling at least $5,000 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 $475 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities.

To qualify for 2% Cash Back on Qualifying Direct Deposits up to $350 ($30 max per month), during the first 12 calendar months after account opening you must:

• open your new HSBC Advance checking account from January 6, 2020 through and including March 29, 2020 and
• set-up recurring Qualifying Direct Deposits from a third party to an HSBC Advance checking account at least once per calendar month for 12 consecutive calendar months following account opening month.

The 12 calendar months from account opening begins with the first full calendar month after your Advance checking account is opened. You will automatically receive the 2% cash back in your new HSBC Advance checking account approximately eight weeks after completing that month’s qualifying activities.

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Eligibility

The bonus is available nationwide and accounts can be opened online.

Customers who held an HSBC consumer deposit or investment account from January 6, 2017 through and including January 6, 2020 are not eligible for this offer.

Fees

All the eligible accounts come with fees.

• Advance Checking
  • A monthly maintenance fee of $25 will be incurred if minimum balance or recurring direct deposit requirement is not met.
    • $5,000 direct deposit
    • $10,000 in combined personal deposit and investment balances
• Premier Checking
  • A monthly maintenance fee of $50 will be incurred if minimum balance requirement is not maintained.
    • $75,000 in combined personal deposit and investment balances OR
    • Recurring direct deposits totaling at least $5,000

Guru’s Wrap-Up

Not as good as a previous offer that was around for a while and could earn you as much as $750.

Just a warning that HSBC has not been very accommodating to say the least, when it comes to paying out the bonuses. Lots of people have had issues and it takes lots of back and forth to finally get your bonus sometimes. Even the account opening process occasionally takes a very long time.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.