HSBC Direct

Deposits held and insured by HSBC

Overview / Commentary
1800 Tysons Blvd
McLean, VA 22102
Deposits held and insured by HSBC

Related Posts

HSBC Direct Drops Rate .15% To 1.7% APY - 3/20/2020

HSBC Direct Savings Lowered Again (To 1.85% APY) - 2/1/2020

Email: "As a valued HSBC customer, we want to make sure you have the most up to date information on your account. The Annual Percentage Yield (APY) on your HSBC Direct Savings account will be 1.85% starting February 03, 2020. Your HSBC Direct Savings account remains one of the most competitive rates in the market."

HSBC Direct Drops Rate .05% To 2% APY - 1/15/2020

Used to be 2.05% - it's now 2%. Not a huge drop thank goodness. Still competitive.

View all posts from:

9/23/09 - HSBC Direct's Rate Promotion Extension and HSBC Bonus Update
9/11/09 - HSBC Direct Online Payment Account $50 Bonus
8/1/09 - HSBC Direct's Online CDs - Competitive Rates with Some Nice Features
3/3/09 - Checking Account Bonus and Latest News at HSBC
1/21/09 - $150 Gift Checking Account Bonus at HSBC Bank
12/16/08 - $100 Checking Account Bonus at HSBC Bank
11/27/08 - 4.00% 6-Month Online CD at HSBC Direct
10/3/08 - HSBC Direct's New 6.00% Savings Account Promo
6/3/08 - Update on HSBC Online Savings Account Promo and a New Checking Account Bonus
6/2/08 - HSBC Direct's New Savings Account Promo - 3.50% Guaranteed to 8/15/08
4/22/08 - Update on HSBC Checking and Savings Account Bonuses
4/22/08 - HSBC Checking and Savings Account Bonuses
12/21/07 - HSBC Direct Lowers Savings Account Rates - Offers More CDs
12/3/07 - $25 Bonus for Paying Bills Using HSBC's Online Payment Account
9/26/07 - $75 Bonus for HSBC Interest Checking Account - Online Savings Account Yield Falls to 4.50%
8/26/07 - $75 Bonus for HSBC Interest Checking Account - Update
6/4/07 - Details About HSBC Direct's Online Payment Account
5/29/07 - HSBC Direct's New Online Payment Account
5/25/07 - HSBC Direct's Next Offer?
4/28/07 - $50 Sign-Up Bonus for HSBC Premium Money Market Plus Savings Account
2/25/07 - $75 Bonus for HSBC Interest Checking Account
2/9/07 - Problems at HSBC's US Operations
1/28/07 - HSBC's 6% Savings Account Promo Update and $25 Checking Account Bonus
1/16/07 - HSBC's New Website - Not Much Change for Current Customers

Reviews (7)

The Interest Rate Is The Only Reason To Bank Here

Posted by: |

The general decline in interest rates prompted me to open an account in November, despite what the reviews on this site said.

The process went relatively smoothly, although they insisted on sending me an authorization code through US mail before I could log on to my account for the first time.

The first thing I noticed was that the statement period started/ended based upon the day I opened my account, not on the first/last day of the month as expected.

I recently had another bank do the same thing to me, and a 5 minute phone call (which included the wait time) fixed the problem, so I thought it would be easy to fix.

The HSBC customer representative on the online chat support was completely worthless, and after a sustained interaction I gave up trying to fix the problem that way.

A telephone call resulted in a lengthy wait, but I was finally connected to a customer representative. Based upon his accent, my guess is that he was in Hong Kong. After carefully explaining the problem a couple of times, he was able to successfully fix the problem. although I was unable to verify that until my December statement arrived at the end of the year. (The HSBC website lacks a lot of the information you would normally expect to see, like the start/end dates of the current statement cycle.)

The current problem I have having is that HSBC does not deposit all the interest you earn in a month in that month's statement. Instead, they deposit what you have earned by the 29th, and then just hold the rest of the interest to the next month, which also just pays interest through the 29th.

Eventually, you presumably get paid all the interest you earned, by it is a ridiculously complex system for something as simple as calculating interest on a savings account. I banked way back in the 1970s, and even way back then banks were able to calculate and deposit the full month's interest at the end of the month. It is really annoying for anyone who is trying to manage their income for tax purposes.

I tried fixing this via online chat, and they flat out told me that is the way the system works and they can't change it.

The website which provides you information for your account has virtually no information. It is by far the worst I have seen for decades. I have been online banking since the 1990s. There may have been worse sites back then, I can't recall for sure.

Since I first started looking at an HSBC account, their interest rate has declined from 2.25% to 1.85%.I have enough money on deposit that I thought a 2.25% interest rate would make it worth the problems I expected to encounter based upon the other reviews of HSBC. At 1.85%, I regret opening an HSBC account. It just isn't worth the hassle when any number of other banks will pay you 1.7% with none of problems which come with and HSBC account.

I really wanted to give HSBC 1 star, but the interest rate earns them 2 stars.

Eh, Not Great

Posted by: |

So rate was good, however not happy with experience or app.

1) App is clunky and laggy. Mobile deposits are a pain. 1st time - timed out with upload and deposit failed (but no notification or any sort). Waited 1 week to make sure nothing popped and redid it.

2) Securtity/Customer Service 0 After mobile deposit, my account was locked for "security". No emails or other notifications. Just trying to log into my account 5 days later, and couldn't. Then spent almost 1 hour on the phone (approx 40 min on hold), and finally was able/transferred to security specialist who confirmed my identity and removed the hold.

3) Tried opening a joint account and was supposed to be checked. Submitted all the info, then got emails a week later asking for more identity verification. Took almost 2 weeks of no information. Phone calls didn't result in anything, except telling me to wait for approval (on hold for avg 30 min). But then was denied. So reopened as an individual account (instant approval), then was told to add a joint account holder, need to call M-F and call would take approx 30 min (in addition to the minim 30 min wait time on the phone).

4) Lots of personal details required for application.

Overall, rate was good. Slickdeals sign-up bonus was good. But I'm done. Will wait out the 3 months and then be leaving.

Poor Customer Service

Posted by: |

The website if choppy, and I don't like the website visually. I opened an HSBC Direct savings account (online account, not branch). HSBCDirect is poor for service. First, apparently the HSBC Direct account does not allow you to add beneficiaries to online accounts- which is unheard of because Ally bank allows for beneficiaries. Second, the customer service center is terrible. I kept trying to tell the call provider that I was overhearing literally every word of the conversation his coworker was having. He told me that since it was a call center many people are on the phone.Still, I should NOT be able to hear other peoples conversations and other people account information. I asked him how does he know the person on the other side of the line who is speaking to his colleague is not hearing all of MY account information, and he laughed. Also, the call center is Foreign, so a lot of repeating what you said. HSBCDirect just has very poor customer service skills. I will most likely close my account.

Application Declined

Posted by: |

Unable to confirm my identity. I didn't recognize any of the accounts they somehow linked to me so had to answer none of the above to all questions. I have several current, active accounts in good standing they could have asked me about.. don't know what they were going for here. Went through twice to make sure no mistakes and declined both times. Hope this doesn't mean someone else has been monkeying with my credit report!

Low Quality Customer Service

Posted by: |

I would bank with this company. The wait was long to reach customer service, the service center was in a foreign country and I could barely understand their English. They could not answer my question and said I needed to drive 2 hours to the nearest branch ask them.

No Access To Funds

Posted by: |

Two weeks ago today they pulled the amount of my initial deposit for their online savings account. I have not been allowed to even set up access to my funds, much less transfer in or out. I have been offered a chance to close my account for a $25 fee. A "ticket" was written 5 days ago but only insistence that everything works fine. Now, today, I am told that it will be 7-10 business days before they can resolve their access point issues.

The Worst Bank I Have Ever Dealt With

Posted by: |

Stay away from this bank. They are terrible. They lie, they keep you on hold forever, the customer service is terrible.


Data as of Q4 2019

Data displayed below is for insuring bank: HSBC
Learn why bank health matters

Health Grade Components

FDIC Certificate #57890
Year Established2004
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.19%
Return on Equity - YTD1.54%
Annual Interest Income$4.90B
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$172.9B$169.8B
LoansQ4 2019vs Q4 2018$65.83B$66.65B
DepositsQ4 2019vs Q4 2018$133.6B$126.3B
Equity CapitalQ4 2019vs Q4 2018$21.70B$23.71B
Loan Loss AllowanceQ4 2019vs Q4 2018$636.9MM$540.7MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$692.4MM$552.1MM
Real Estate OwnedQ4 2019vs Q4 2018$10.0MM$12.0MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

HSBC Direct Drops Rate .15% To 1.7% APY


HSBC Direct Savings Lowered Again (To 1.85% APY)

Email: "As a valued HSBC customer, we want to make sure you have the most up to date information on your account. The Annual Percentage Yield (APY) on your HSBC Direct Savings account will be 1.85% starting February 03, 2020. Your HSBC Direct Savings account remains one of the most competitive rates in the market."

HSBC Direct Drops Rate .05% To 2% APY

Used to be 2.05% - it's now 2%. Not a huge drop thank goodness. Still competitive.

Skip to rates for:
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Always verify rates and promotions with the bank or credit union. We are not HSBC Direct; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

HSBC Direct Savings Account Rates

1.70%-$2mHSBC Direct Savings

HSBC Direct CD Rates

0.80%$1k-12 Month Direct CD
0.80%$1k-24 Month Direct CD
0.75%$1k-6 Month Direct CD

HSBC Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 1800 Tysons Blvd - McLean, VA 22102

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.