Average User Rating:
2.5 star rating based on 2 reviews.

HSBC Advance

P.O. Box 4045
Buffalo, NY 14240
1.888.404.4050
www.hsbcadvanceusa.com

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HSBC Advance is HSBC Bank USA, National Associations’s online-only banking business designed to help you reach your savings goals. Our high-yield accounts let you make the most of your money, and manage it online as it grows. We’re part of HSBC, one of the largest banking and financial service organizations in the world.

Checking Account Disclosure at Some Banks Require Customers To Pay All Costs in Legal Disputes - 6/22/2012

Readers of DepositAccounts.com know that account disclosures at many banks and credit unions give the institutions far too many rights. The example that we have discussed many times on this blog has b ...

HSBC Rates Drop To .5% (Used To Be .8%). (Forum) - 6/14/2012

Just got an email stating their online savings account dropped to .5%. Not competive any more. Sad - since to be a Premier customer you need to hold $100k - and now your money earns bupkus.

HSBC Advance Savings Rate Decrease to .80 (Forum) - 5/5/2011

From .90 to .80 as of may 5th 2011. You'd think Advance would mean rate increases. Who knew?

HSBC Savings Rate Drops (Forum) - 12/1/2010

HSBC savings rate has dropped to 1.00% from 1.10%.

2010

3/30 - History of HSBC Bank in the U.S. (Forum)
3/3 - Closing Online Savings Accounts - HSBC Direct (Advance) (Forum)
2/8 - HSBC Advance (formerly HSBC Direct) Cuts Savings Account Rate (Forum)
2/2 - HSBC Direct Changes Name to HSBC Advance (Forum)
1/15 - HSBC Direct Is Changing Its Name to HSBC Advance (Forum)

2009

2008

2007

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See Rates for: Checking | Savings | CD

HSBC Advance Checking Account Rates

Apy	Min	Max	Product
0.01%	-	-	Online HSBC Premier Checking
0.01%	-	-	Online Advance Checking
0.01%	-	-	Telephone Advance Checking
0.01%	-	-	Telephone Premier Checking
0.01%	-	-	Online HSBC Premier Checking - With Interest Checking Plus or Premier
0.01%	-	-	Online Advance Checking - With Interest Checking Plus or Premier
0.01%	-	-	Telephone Advance Checking - With Interest Checking Plus or Premier
0.01%	-	-	Telephone Premier Checking - With Interest Checking Plus or Premier

HSBC Advance Savings Account Rates

Apy	Min	Max	Product
0.20%	$100k	-	Telephone Premier Savings
0.20%	$100k	-	Telephone Premier Savings - With Interest Checking Plus or Premier
0.20%	-	-	Online Premier Savings
0.20%	-	-	Online Premier Savings - With Interest Checking Plus or Premier
0.10%	$50k	-	Telephone Advance Savings
0.10%	$50k	-	Telephone Advance Savings - With Interest Checking Plus or Premier
0.10%	-	-	Online Advance Savings
0.10%	-	-	Online Advance Savings - With Interest Checking Plus or Premier
0.01%	$100	-	Online Everyday Savings
0.01%	$100	-	Online Everyday Savings - With Interest Checking Plus or Premier
0.01%	$100	-	Telephone Everyday Savings
0.01%	$100	-	Telephone Everyday Savings - With Interest Checking Plus or Premier

HSBC Advance CD Rates

Apy	Min	Max	Product
0.15%	$1k	-	48 Month Online CD
0.15%	$1k	-	4 - 10 Year Less 1 Day Telephone CD
0.15%	$1k	-	4 - 10 Year Less 1 Day Telephone CD - With Interest Checking Plus or Premier
0.15%	$1k	-	48 Month Online CD - With Interest Checking Plus or Premier
0.10%	$1k	-	30 Month Online CD
0.10%	$1k	-	36 Month Online CD
0.10%	$1k	-	2 - 4 Year Less 1 Day Telephone CD
0.10%	$1k	-	2 - 4 Year Less 1 Day Telephone CD - With Interest Checking Plus or Premier
0.10%	$1k	-	30 Month Online CD - With Interest Checking Plus or Premier
0.10%	$1k	-	36 Month Online CD - With Interest Checking Plus or Premier
0.05%	$1k	-	18 Month Online CD
0.05%	$1k	-	24 Month Online CD
0.05%	$1k	-	1 Year Plus 1 Day Telephone CD
0.05%	$1k	-	13 Month Telephone CD
0.05%	$1k	-	15 Month Telephone CD
0.05%	$1k	-	1 Year Plus 1 Day Telephone CD - With Interest Checking Plus or Premier
0.05%	$1k	-	13 Month Telephone CD - With Interest Checking Plus or Premier
0.05%	$1k	-	15 Month Telephone CD - With Interest Checking Plus or Premier
0.05%	$1k	-	18 Month Online CD - With Interest Checking Plus or Premier
0.05%	$1k	-	24 Month Online CD - With Interest Checking Plus or Premier
0.01%	$1k	-	6 Month Online CD
0.01%	$1k	-	9 Month Online CD
0.01%	$1k	-	12 Month Online CD
0.01%	$1k	-	3-6 Months Less 1 Day Telephone CD
0.01%	$1k	-	4 Month Telephone CD
0.01%	$1k	-	6 - 9 Month Less 1 Day Telephone CD
0.01%	$1k	-	7 Month Telephone CD
0.01%	$1k	-	8 Month Telephone CD
0.01%	$1k	-	9 - 12 Months Exactly 1 Year Telephone CD
0.01%	$1k	-	11 Month Telephone CD
0.01%	$1k	-	3-6 Months Less 1 Day Telephone CD - With Interest Checking Plus or Premier
0.01%	$1k	-	4 Month Telephone CD - With Interest Checking Plus or Premier
0.01%	$1k	-	6 - 9 Month Less 1 Day Telephone CD - With Interest Checking Plus or Premier
0.01%	$1k	-	6 Month Online CD - With Interest Checking Plus or Premier
0.01%	$1k	-	7 Month Telephone CD - With Interest Checking Plus or Premier
0.01%	$1k	-	8 Month Telephone CD - With Interest Checking Plus or Premier
0.01%	$1k	-	9 - 12 Months Exactly 1 Year Telephone CD - With Interest Checking Plus or Premier
0.01%	$1k	-	9 Month Online CD - With Interest Checking Plus or Premier
0.01%	$1k	-	11 Month Telephone CD - With Interest Checking Plus or Premier
0.01%	$1k	-	12 Month Online CD - With Interest Checking Plus or Premier

Rates updated: 5/19/2013

Data for Q4 2012

Institution Statistics

HSBC Bank USA, National Association
FDIC Certificate #	57890
BankRate Report	View
Year Established	2004
Employees	7145
Primary Regulator	OCC
Assets and Liabilities
Assets	$186.79 billion
Loans	$59.88 billion
Deposits	$127.86 billion
Equity Capital	$18.82 billion
Loan Loss Allowance	$646.92 million
Unbacked Noncurrent Loans	$1.51 billion
Real Estate Owned	$79.03 million
Historic Data - December 2011
Assets	$206.01 billion
Equity Capital	$19.51 billion
Loan Loss Allowance	$743.19 million
Unbacked Noncurrent Loans	$2.14 billion
Real Estate Owned	$77.86 million
Profit Margin - Quarterly
Net Interest Margin	1.32%
Return on Assets	-0.42%
Return on Equity	-4.34%
Interest Income	$3.16 billion

Institution Health

Overall Score:

4 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 HSBC Advance had $1.59 billion in non-current loans and owned real-estate with $19.46 billion in equity and loan loss allowances on hand to cover it. This gives HSBC Advance a Texas Ratio of 8.15% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for HSBC Advance decreased slightly from 11.27% as of December 31, 2011 to 8.15% as of December 31, 2012, resulting in a positive change of 27.71%.This indicates that the balance sheet and financial strength for HSBC Advance has improved slightly in recent periods.
Deposit Growth
In the past year, HSBC Advance has decreased its total deposits by -$21.16 billion, resulting in -14.2% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth HSBC Advance has shown is poor.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. HSBC Advance has $186.79 billion in assets with $19.46 billion in equity, resulting in a capitalization level of 10.42%, which is above average.

HSBC Advance Review: Not As Good As ING Direct Or Amex Savings
3 stars

- pfjoed - Friday, February 18, 2011 - 2:40 PM

I used HSBC Advance (formerly HSBC Direct) for 4-5 years and dropped them recently due to their inability to match the interest rates offered by ING Direct and Amex Savings. They offer fairly standard web-based accounts.

I liked:

That for years this account offered a better rate than ING direct and similar competitors.
The debit card. It works for free at HSBC ATMs and reimburses transaction fees at out of network ATMs (3 transactions reimbursed each month).

I disliked:

Money transfers from my primary account (BoA) took 1 day longer than similar transfers to ING Direct or Amex Savings. I didn't realize how annoying this was until I started using other accounts that processed transactions much more quickly.
That they decided to stop matching ING's interest rate.
Customer Service is not great.
The website is ok but not great.

HSBC Online Savings
2 stars

- thecherif - Friday, December 14, 2012 - 10:31 AM

I've had an online savings account with HSBC for over three years now and they keep lowering the interest rate. The rate is not near competitive. I'm closing the account and moving my money for 3x the interest.

There is also too many layers of passwords to access your account and reset your account. I'm generally good at remembering my account passwords. However, the multiple layers have made this difficult with HSBC.