HSBC is headquartered in TYSONS and is the 2nd largest bank in the state of Virginia. It is also the 25th largest bank in the nation. It was established in 2004 and as of March of 2023, it had grown to 1,883 employees at 24 locations. HSBC's CD rates are 5X the national average, and it has a B+ health rating.
I have been a loyal customer at this bank for over 12 years and happy with the services they provided. There was an issue with fraud with my bank card. A person had stolen my bank number and used it to make several purchases. The purchases added to well over $500. I was on the phone with customer to resolve the issue, which took no more than 10 minutes. The customer service representative understood the situation and had no problems crediting me the entire amount that was illegally charged. The representative understood the situation and had no problems resolving the issue. He had asked the right questions to assess the situation and appeared to be just as concern as I was. He made me feel that he actually cared about the situation and made sure the issue was resolved. He exhibited so signs of impatience or negativity. I did not feel like I had to jump through several hurdles to resolve the issue. I felt that he went above and beyond than what he was required to do to help me feel safe banking with HSBC. From the experience with the representative, I would not hesitate ever to call customer service with any questions or issues. Within a week, a new bank card was provided to me and had no problems since. Thank you so much HSBC!
I use HSBC for an online savings account. I primarily chose HSBC because they were paying a higher interest rate than my local bank was. I have used the account to hold money for other purchases I may or may not have during the year when I need quick access to money. I have not had very many problems with deposits, though most of my deposits are just transfers from one bank to another and these are initiated entirely online. I have only had to contact customer service once when a deposit did not show up as scheduled, and the email system they have in place worked fine to get this corrected in a day or two. I would recommend this bank to anyone looking for a no frills online savings account.
Listen to their "Premier" checking account features: $0 OD fee, $0 NSF fee, $0 ATM fee, $0 Wire Transfer Fees, Unlimited ATM reimbursements... Sounds good, right? Nope. There is a $50 monthly maintenance fee that can only be avoided by maintaining a $100,000 balance at the bank. I hate that banks throw around terms like "Premier" and offer great features but have HUGE "gotchas" in the fine print. No thanks. I think I'll stick with Ally.
Had an hsbc direct account years back checking and savings, they were good back 10+ years ago but they begin to lower apy drastically. I think they were a teaser rate than once they got enough customers than they lowered it. I wasn't too happy about that, I did extensive research too but hey we make mistakes.
I eventaully closed my both of my accounts and customer service was good. I never had issues with ACH transfer limits, I'm not even sure what it was before but it never affected me.
Overall | |
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FDIC Certificate # | 57890 |
Year Established | 2004 |
Employees | 1883 |
Primary Regulator | OCC |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.81% |
Return on Equity - YTD | 8.17% |
Annual Interest Income | $1.57B |
Assets and Liabilities | ||
---|---|---|
Assets | Q1 2023vs Q1 2022 | $164.5B$174.7B |
Loans | Q1 2023vs Q1 2022 | $57.61B$57.05B |
Deposits | Q1 2023vs Q1 2022 | $137.9B$141.9B |
Equity Capital | Q1 2023vs Q1 2022 | $16.51B$19.64B |
Loan Loss Allowance | Q1 2023vs Q1 2022 | $570.8MM$466.8MM |
Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $497.7MM$552.0MM |
Real Estate Owned | Q1 2023vs Q1 2022 | $1.7MM$3.0MM |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
4.30% | $1 | - | Premier Relationship Savings | ||
0.15%* | $100k* | - | Premier Savings | ||
OTHER TIERS: 0.01% → Up to $25k | 0.10% → $25k - $100k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.01% | $5 | - | Premier Checking |