For more details of the HSBC Direct Online Savings Account, please refer to my Monday's post.
$25 Checking Account Bonus
There's also a $25 checking account bonus being advertised at HSBC Bank's home page. The promotion rewards you with $25 for applying for an HSBC Interest Checking Account and funding the account with $2,000 in new money. The offer expires June 15, 2008.
I last posted on a $75 bonus for this Interest Checking Account, but this expired in May.
The Interest Checking Account has a $12/month fee unless you either have direct deposit or if you have a combined balance of $3,000. The $3,000 combined balance should include the balance in the Online Savings Account. This is important since the interest rate of the checking is only 0.05%. You'll want to keep most of your money in the Online Savings Account. To keep the bonus, the account must remain active and open for 180 days.
The terms and charges disclosure for the Interest Checking account is available at this HSBC page.
In 2006 I signed up for the Smart Package for a $50 cash bonus. One nice perk of this Interest Checking Account is that your first box of checks is free. Regarding hard credit inquiries, I did not receive any for opening the checking or savings accounts. Please refer to my 2006 HSBC post for details of opening an HSBC checking account.