3 starsAverage User Rating:
Based on 1 user review.

HSBC Advance

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

Related Posts

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%.

History of HSBC Bank in the U.S. (Forum) - 3/30/2010

From the Wall Street Journal HSBC Holdings PLC still is grappling with subprime businesses in the U.S. that have saddled the company with billions of dollars in losses. Yet the company is tiptoeing into new markets in the U.S. and expanding in others. Ar

Closing Online Savings Accounts - HSBC Direct (Advance) (Forum) - 3/3/2010

If you have given up hope that your internet bank will ever again be a rate leader, you may want to close the account. As I mentioned today there are some reasons why you'll want to do this. Mr. B of Interesting Money described how he closed his HSBC Adva

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See Rates for: Savings | CD

HSBC Advance Savings Account Rates

ApyMinMaxProduct
0.80%--Online Savings

HSBC Advance CD Rates

ApyMinMaxProduct
0.80%--48 Month Online CD
0.35%--24 Month Online CD
0.35%--30 Month Online CD
0.35%--36 Month Online CD
0.20%--12 Month Online CD
0.20%--18 Month Online CD
0.10%--6 Month Online CD
0.10%--9 Month Online CD

Rates updated: 2/7/2012

Data for Q3 2011


Institution Statistics


HSBC Bank USA, National Association
FDIC Certificate #57890
BankRate ReportView
Year Established2004
Employees9559
Primary RegulatorOCC

Assets and Liabilities

Assets$203.67 billion
Loans$73.06 billion
Deposits$141.93 billion
Equity Capital$19.34 billion
Loan Loss Allowance$748.88 million
Unbacked Noncurrent Loans$2.22 billion
Real Estate Owned$194.38 million

Historic Data - September 2010

Assets$189.73 billion
Equity Capital$17.94 billion
Loan Loss Allowance$2.51 billion
Unbacked Noncurrent Loans$2.92 billion
Real Estate Owned$154.88 million

Profit Margin - Quarterly

Net Interest Margin1.54%
Return on Assets0.62%
Return on Equity6.52%
Interest Income$2.54 billion

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
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 September 30, 2011 HSBC Advance had $2.42 billion in non-current loans and owned real-estate with $20.08 billion in equity and loan loss allowances on hand to cover it. This gives HSBC Advance a Texas Ratio of 12.04% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for HSBC Advance decreased slightly from 15.00% as of September 30, 2010 to 12.04% as of September 30, 2011, resulting in a positive change of 19.74%.This indicates that the balance sheet and financial strength for HSBC Advance has improved slightly in recent periods.
Deposit Growth5
In the past year, HSBC Advance has increased its total deposits by $14.81 billion, resulting in 11.65% 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 excellent.
Capitalization3
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 $203.67 billion in assets with $20.08 billion in equity, resulting in a capitalization level of 9.86%, which is average.
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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.


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