Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. $0. The HSBC Direct Savings account has a lot going for it, not just its high-interest rate of 2.25% that lets your money grow more than it will at your local bank or credit union. Although the HSBC Direct Savings account is missing useful features like ATM access, it's still a highly competitive product with an excellent APY, low minimum deposit, and mobile functionality that should appeal to those who may not have the largest savings account balance but still want to earn a high rate. Write to Kim P at [email protected] No monthly service fee and no minimum deposit. Additionally, you can instant access to features such as no monthly maintenance fee, and 24/7 online account access. Customer Service. *See the card issuer's online application for details about terms and conditions. By submitting your email address, you consent to us sending you money tips along with products and services that we think might interest you. HSBC Direct Savings is an online-only account, but HSBC has over 200 branches nationwide, so the bank could be a good fit if you want the option to speak with a banker face-to-face. You do everything online from start to finish.If you have a current HSBC account, such as an HSBC Choice or HSBC Advance Checking, opening an account is even easier. Its rates and terms place it among the better savings accounts… Apply Now. Grow your savings, investments, career, side-hustle, rewards, and more. HSBC Direct Savings is an online-only account, but HSBC also has over 200 branches nationwide. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Don't expect any bells and whistles with the account. Owning this account gives you access to HSBC's 24/7 Live Chat assistance, mobile check deposit, and easy transfers. She also writes for The Ascent's parent company, The Motley Fool. High APY and low fees, Best For: ISAs . The Direct Savings account through HSBC is the bank’s best option. But, before you open your HSBC Savings account, do some homework and review your other options. We have not reviewed all available products or offers. Review the details of your account and apply quickly and easily with the click of a mouse. The cash is FDIC-insured … You should consult your own professional advisors for such advice. Online savings accounts often have an advantage when it comes to interest rates, allowing them to outpace what traditional banks offer. Are you tired of abysmal interest rates on your savings accounts? Compare HSBC savings accounts. HSBC Direct Savings Review HSBC Direct Savings is an excellent, low-cost, and high-return option for both established savers and people who are just getting started. Follow us on Twitter and Facebook for our latest posts. 70% off Offer Details: C o n s. Online-only — The HSBC Direct Savings account is considered an “online only” account. You do not have to use our links, but you help support CreditDonkey if you do. HSBC Serious Sav account seriously not transparent Serious Saver said it was offering 2 percent followed by variable rate after four months. Reviews; Calculators; Freesources; eBook; We couldn't find what you're looking for. Our ratings are based on a 5 star scale. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. This means that you’re required to use things like online banking, e-statements, and customer service over the phone. HSBC Advance Savings This is another standard savings account available to anyone with an Advanced checking account. It has an established presence in the US, with over 200 branches across 10 states, but also regularly serves 67 countries and more … Considering a savings account from HSBC? The HSBC High Rate Savings Account offers a decent interest rate and a number of value-added features for no monthly fee. Some accounts come with high maintenance fees, but HSBC might be a good fit for consumers looking for an online savings account with a global bank. While it won't get you rich quick, it does offer a healthy APY to help encourage you to keep funding that emergency fund. You'll often find your highest interest rates online, such as is the case with the HSBC Direct Online Saving account. CreditDonkey does not include all companies or all offers that may be available in the marketplace. Profit. HSBC Direct Online Savings offers one of the highest interest rates on the market. The account has no monthly maintenance fees and only requires $1 to open. It is the world's sixth largest bank. 1 star equals Poor. HSBC Online Savings (Transaction Account / Debit Card): 3.6 out of 5 stars from 11 genuine reviews on Australia's largest opinion site ProductReview.com.au. You can HSBC Direct Online Savings. Please read our Privacy Statement and Terms & Conditions. Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. Keep in mind, though, since it's a savings account, you can't make more than six withdrawals in one cycle per FDIC rules. If you are tired of measly interest rates on your savings accounts, HSBC Direct Online Savings might be a good choice. For branch locations, visit locator.chase.com. Here's how it works: Maintain a minimum balance of $25k OR make at least a $100 minimum deposit every month. HSBC, a British multinational, offers online savings accounts to American customers through HSBC Direct. However, deposits into savings accounts count toward the overall balance for waiving maintenance fees on checking products. You do everything online from start to finish. HSBC Direct Savings Account Review (User Rating) Ranking. APY. Plus, this rate is easier to take advantage of with a $1 minimum deposit to open and no monthly fee. The 0.15% APY is available at any balance you keep within the account… You are then free to make transfers or withdraw funds as you see necessary. Live chat: HSBC offers live chat assistance to customers, which can be a major time-saver, as opposed to waiting on hold to speak with a customer service representative. Compensation may impact the order in which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. HSBC has more than 40 million customers across the world. I cover the intersection of money, career, and entrepreneurship, 0.20% to 0.60% APY. It will do this after 12 … CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. About CreditDonkey CreditDonkey is a bank comparison website. Even if you don't have an HSBC checking account, you can connect your external bank account to the Direct Savings account for easy funding and withdrawals. Before you apply for a personal loan, here's what you need to know. Synchrony Bank: Pricing information from published website as of 1/1/2021. Up to 0.45%, APY: However, all information is presented without warranty. 10/10. Maybe you've even abandoned the thought of a savings account because it just doesn't seem worth it anymore. HSBC Direct Savings Account Review - Money Under 30. We want your money to work harder for you. Best for: High APY; Low fee-account ; Fast ATM deposits; In this review. If you have a current HSBC account, such as an HSBC Choice or HSBC Advance Checking, opening an account is even easier. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Keep in mind that they don't offer an ATM card, so if you are used to accessing your funds via ATM, you may want to look elsewhere. The HSBC Direct Savings Account interest rate is higher than the national average, but you can still find a higher APY at other online banks. Transfer between HSBC accounts 4. Consumers that switch their bank account to HSBC can currently earn £125 cash bonus on specific HSBC accounts (subject to eligibility). Consumers who want to take advantage of the benefits HSBC offers can do so with the Direct Savings program that is available nationwide. $1 minimum deposit: To open a new HSBC Direct Savings account, you'll need an initial deposit of just $1, which must be made from new money (not from another HSBC account). 12-month CD APY of. The brick-and-mortar division of HSBC has low-rate accounts with fees that require some customer effort to waive, while HSBC Direct offers no-fee checking and high-yield savings … American Express® High Yield Savings Account. In this HSBC Savings Account review, we'll … The Ascent is reader-supported: we may earn a commission from offers on this page. Credit. No monthly maintenance fee, Best For: Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. The HSBC Direct Online Savings account is strictly a savings account. After 20 years as a regular HSBC client (with no problems other than the disappearance of many HSBC ATM machines in NYC) I've encountered 2 recent problems with HSBC false ads and impossible procedures. Available online nationwide except in Alaska, Hawaii and Puerto Rico. Bottom line. Save up to £20,000 in the 2020/21 tax year with our cash or stocks and shares ISAs 1. Everything You Need to Know About Savings, Copyright, Trademark and Patent Information. 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