Update: The $450 offer has been extended until June 30, 2021. The $200 bonus is no longer available.
HSBC Checking Account Bonus
HSBC has two separate checking account bonuses that can earn you $200 or $450, depending on which account you open. This offer is available nationwide and online. Offer ends September 30, 2020. Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
Offers
To qualify for the HSBC Premier $450 Welcome Deposit you must:
- open your new HSBC Premier checking account by September 30, 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 $450 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities.
To qualify for the HSBC Advance $200 Welcome Deposit you must:
- open your new HSBC Premier checking account by September 30, 2020; and
- make recurring monthly Direct Deposits totaling at least $500 from a third party to your HSBC Advance checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening
You will automatically receive the $200 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities.
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.
- 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
- A monthly maintenance fee of $25 will be incurred if minimum balance or recurring direct deposit requirement is not met.
- 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
- A monthly maintenance fee of $50 will be incurred if minimum balance requirement is not maintained.
Guru’s Wrap-Up
A good offer from HSBC for those who have not had an account the last two years approximately. However it is $25 less than the offer they had until June 29th. Accounts can be opened online and all requirements can also be fulfilled in the same way. I have heard that there have been some instances of delays in paying out of the bonuses, but it is still a good offer. Just make sure to complete requirements in time and keep an eye for the bonus. There is also a different bonus for these account that gives you 3% cashback on direct deposits, up to $600.
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.
