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Opening an HSBC account is so simple that you can even do it online
The Honk Kong and Shanghai Banking Corporation, globally recognized as HSBC, is considered one of the largest banking companies on the planet, third largest by assets. HSBC was founded in 1865 in Hong Kong when it was still a British colony, so it is considered a UK company, currently having its headquarters in London. It serves more than 40 million customers in 64 countries and territories, according to the HSBC portal.
To open an account at HSBC you need:
- Personal information (name and date of birth)
- Social Security number
- Phone number
- Work situation and income
You may also need to bring your driver’s license, state ID, or military ID to verify your identity. You can also open your account online at us.hsbc.com.
Types of HSBC checking accounts
HSBC has four types of checking accounts designed for the different needs of its clients.
Just like its name, it is the most accessible account HSBC has. There is no minimum deposit required and it costs only $1 per month for maintenance, which allows you to feel free and not have to pressure yourself to maintain a balance. You can get cash at any of the ATMs or pay a $2.5 fee if you withdraw money at another bank’s ATM.
It has a $15 fee that can be avoided as long as you maintain an average monthly balance of $1,500 or qualifying direct deposit per month, regardless of the amount. In addition, it has a $35 overdraft fee (same as the Basic Banking account), although you can opt for protection to avoid it. There is also a $2.5 fee for out-of-network ATM cash withdrawals.
You need an average monthly balance of $5,000 or a qualifying direct deposit per month regardless of the amount to avoid the $25 per month maintenance fee.
It also has its HSBC Premier premium account where you must maintain a minimum monthly balance of $75,000 USD or recurring direct deposits totaling $5,000 USD to avoid the $50 USD service fee per month.
If you require more information, you can call 833-584-4722 from 8 am to 10 pm ET.