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HSBC Premier Checking Account review: read before applying

Learn about the HSBC Premier Checking Account, including what it offers and who is eligible. Get a detailed overview of the account's features, fees, and benefits!

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Open an HSBC Premier Checking Account and get the best banking products!

HSBC logo
Read our HSBC Premier Checking Account review! Source: HSBC

The HSBC Premier Checking Account, presented in this review, might be the right choice for financial needs, but it must be thoroughly reviewed before committing to it. So, read on to see its perks!

card

Checking Account

HSBC Premier

international online

International HSBC ATMs worldwide. No foreign transaction fees.

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With the HSBC Premier Checking Account, you’ll be able to earn up to 0.01% APY with $5 or more as a minimum balance. Keep reading to find out more!

Fees*$50 monthly fee (there are ways to avoid this monthly fee).

*Terms apply.
Minimum balance$75,000 minimum balance to waive the monthly fee.
APY0.01% with $5 or more as a minimum balance.
Credit scoreN/A.
Rewards*If you open your account by February 15, 2023, you’ll be able to get a $500 welcome bonus as an eligible new cardholder (you may need to meet other requirements to qualify)!

*Terms apply.

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What is the HSBC Premier Checking Account?

The HSBC Premier Checking is an excellent bank account for those with the financial assets required to qualify for HSBC’s exclusive relationship status.

So, HSBC offers excellent benefits to its loyal customers, such as international banking advantages, high monthly balance requirements, and more.

However, HSBC Premier Checking has been highly reviewed and praised by customers for its excellent customer service and flexibility of membership levels.

And HSBC is focused on helping its customers manage their finances.

With HSBC Premier Checking Account, you can count on HSBC to deliver a top-notch banking experience that works around your needs.

Plus, you’ll need to open an HSBC Premier Checking Account if you want to apply for other HSBC financial products, such as credit cards and loans.

HSBC Premier Checking Account: how does it work?

money bank
Learn more about how this checking account works! Source: Pexels

The HSBC Premier Checking Account of this review is essential for you to proceed with finance or other applications. After all, it is a type of account that serves as the basis for many banking services.

However, you may incur some associated fees if you don’t have large amounts deposited. Check out the main pros and cons of this option below!

Advantages

  • HSBC Premier Checking Account holders can transfer money for free to any other HSBC Premier Checking Account holder anywhere in the world;
  • There are no U.S. HSBC ATM fees charged to Premier Checking account holders when they use an HSBC ATM worldwide;
  • Premier checking account holders earn interest on their deposited funds;
  • Customers have access to physical branches and a nationwide network of ATMs.

Disadvantages

  • A minimum required balance needs to be high for fees to be eliminated;
  • Interest rates for current account income are low compared to other market options;
  • $50 monthly maintenance for those who don’t reach a minimum account balance.

Does your credit score need to be good?

The HSBC Premier Checking Account in this review is a deposit-oriented account.

Therefore, the official HSBC and user pages do not provide a figure for the minimum required credit score.

However, you need to have significant deposit amounts not to have associated monthly fees. If you don’t have a significant credit score, you need at least a good amount of money.

Want to apply for the HSBC Premier Checking Account?

The HSBC Premier Checking account is a premium banking solution offering exclusive member benefits to affluent individuals and families. You can learn how to apply for it in this post. So, read on!

card

Checking Account

HSBC Premier

international online

International HSBC ATMs worldwide. No foreign transaction fees.

You will be redirected to another website

However, to enjoy the credit card or loan products offered by HSBC, you must apply for a checking account. Also, you must know the minimum requirements and follow the steps to do this. So, read on to learn more!

Online application

The HSBC Premier Checking Accounts are designed for those who seek to experience a higher level of banking with HSBC.

The HSBC Premier Checking Account application can be made via the official HSBC website.

For this, you need to have your supporting documents of the requirements requested to open the account.

In possession of these documents, you will proceed with your account opening. Therefore, you must fill out a registration form with your personal and financial data.

Finally, just submit and wait for the evaluation. In addition, the bank may require a minimum initial deposit of $75,000 based on your details.

Requirements

To open one of these accounts, you must meet certain requirements, including the fact that you must be 18 years or older. And have a Social Security Number, U.S. mobile number, and current U.S. residential address.

For customers who are non-U.S. citizens or have not lived in the U.S. for at least a year, HSBC offers an opportunity to open a Premier checking account with certain requirements.

To be eligible for HSBC’s Premier checking account, eligibility criteria include being at least 18 years of age, applying as an individual, and having your current location in one of HSBC’s accepted countries.

HSBC promotes convenient banking solutions and understands it may be difficult for those abroad who desire their own HSBC Premier checking account.

Apply using the app

Application for your HSBC Premier Checking Account is mainly made online. You can fill out the form through your smartphone or tablet browser. Then just follow the same steps as the online application.

However, it is interesting to download the official HSBC application. After all, this application allows you to monitor your deposits and better control your finances. To download, just go to the official app store.

It is available for both Android and iOS and has good user reviews. However, the application must be made only through the official website.

HSBC Premier Checking Account vs. Upgrade Rewards Checking Account

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See which checking account suits you best! Source: The Stealth Capitalist

The HSBC Premier Checking Account is an excellent option for those with a lot of money to invest.

That way, you have reduced monthly fees and can still enjoy many benefits, such as other financial products.

However, you also get verified account services like the Upgrade Rewards Checking Account.

With this option, you can get 20% lower rates on loans and credit cards by Upgrade!

Furthermore, the second option has some very attractive yields. Check out the comparison:

HSBC Premier Checking AccountUpgrade Rewards Checking Account 
Fees*$50 monthly fee (there are ways to avoid this monthly fee).

*Terms apply.
$0 ATM fees, account fees, and transfer fees.
Minimum balance$75,000 minimum balance to waive the monthly fee.None.
APY0.01% with $5 or more as a minimum balance.Chance to pair this account with a 3.50% APY High Yield Savings account.
Credit scoreN/A.N/A.
Rewards*If you open your account by February 15, 2023, you’ll be able to get a $500 welcome bonus as an eligible new cardholder (you may need to meet other requirements to qualify)!

*Terms apply.
2% cash back on everyday purchases;

1% cash back on other purchases.

*Terms apply.

Is the Upgrade Rewards Checking Account the best option for your finances? If so, read our post below to open your account!

Upgrade logo

How to apply for Upgrade Rewards Checking Account 

Find out everything you need to know about how to apply for the Upgrade Rewards Checking Accounts. With unbeatable perks like 2% cashback. Learn more!

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We are an independent, objective, advertising-supported content publisher website. In order to support our ability to provide free content to our users, the recommendations that appear on our site might be from companies from which we receive affiliate compensation. Such compensation may impact how, where and in which order offers appear on our site. Other factors such as our own proprietary algorithms and first party data may also affect how and where products/offers are placed. We do not include all currently available financial or credit offers in the market in our website.

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