HSBC Checking Account Bonus

HSBC has two separate checking account bonuses that can earn you up to $240 or $600, depending on which account you open. The bonus you receive depends on the amount of direct deposits during the first 6 calendar months after account opening. This offer ends September 30, 2020 (extended until 3/31/2021). Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

There’s also a differently structured bonus that will get you either a $200 or $450 bonus, depending on which account you open.

HSBC Premier Checking – Up to $600 Bonus

Get up to $600 with a 3% Cash Bonus Checking Offer when you open a new HSBC Premier checking account and complete the following qualifying activities.

• Open your new HSBC Premier checking account online by September 30, 2020; and
• Set up Qualifying Direct Deposits into your new HSBC Premier checking account; and then
• Enjoy 3% Cash Bonus, up to $600, on Qualifying Direct Deposits up to $100 per month, during the first 6 calendar months after account opening

You will automatically receive the 3% Cash Bonus in your new HSBC Premier checking account approximately eight weeks after completing that month’s qualifying activities.

APPLY NOW

To qualify for an HSBC Premier relationship, you need to open an HSBC Premier checking account and maintain balances of $75,000 in combined U.S. Dollar personal deposit accounts and investment balances OR recurring direct deposits totaling at least $5,000 from a third party to an HSBC Premier checking account(s) per calendar month OR an HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000.

HSBC Advance Checking – Up to $240 Bonus

Get up to $240 with a 3% Cash Bonus Checking Offer when you open a new HSBC Advance checking account and complete the following qualifying activities.

• Open your new HSBC Advance checking account online by September 30, 2020; and
• Set up Qualifying Direct Deposits into your new HSBC Advance checking account; and then
• Enjoy 3% Cash Bonus, up to $240, on Qualifying Direct Deposits up to $40 per month, during the first 6 calendar months after account opening

You will automatically receive the 3% Cash Bonus in your new HSBC Advance checking account approximately eight weeks after completing that month’s qualifying activities.

APPLY NOW

To qualify for an HSBC Advance relationship, you need to open an HSBC Advance checking account and maintain balances of $5,000 in combined U.S. consumer and qualifying commercial U.S. Dollar deposit and investment accounts OR a monthly recurring direct deposit from a third party to an HSBC Advance checking account OR an HSBC U.S. residential mortgage loan.

Eligibility

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

Customers who held an HSBC consumer deposit or investment account from June 29, 2017 through and including June 29, 2020 are not eligible for this offer.

Fees

All the eligible accounts come with fees.

• Premier Checking
  • A monthly maintenance fee of $50 will be incurred if minimum balance or recurring direct deposit requirement is not met:
    • $75,000 in combined U.S. Dollar personal deposit accounts and investment balances OR
    • recurring direct deposits totaling at least $5,000 from a third party to an HSBC Premier checking account(s) per calendar month OR
    • an HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000
• Advance Checking
  • A monthly maintenance fee of $25 will be waived with one of the following options:
    • $5,000 in combined U.S. consumer and qualifying commrecial U.S. Dollar deposit and investment accounts OR
    • a recurring direct deposit from a third party to an HSBC Advance checking account OR
    • an HSBC US residential mortgage loan.

Guru’s Wrap-Up

A good offer that can earn you up to $600 if you open a HSBC Premier checking account, although a similar $700 offer just expired. To avoid monthly maintenance fees of $50 with the Premier account, you will need either maintain a minimum combined balance of $75,000 across all eligible HSBC deposit and investment accounts OR, complete monthly recurring outside direct deposits totaling $5,000 or more into your HSBC Premier Checking account OR, have an HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000. The Advance checking account also offers a bonus, however it is limited to $240 maximum.

I have heard in the past that there have been some instances of delays in paying out of the bonuses, but it’s a great offer.

HSBC: Get $200 or $450 when you make direct deposits for three consecutive months

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.