10/10. HSBC Direct Savings is an online-only savings account offering a higher APY than any of HSBC’s other savings accounts. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Transfer between HSBC accounts 4. The HSBC Direct Savings account offers an excellent combination of low fees and minimums, a user-friendly platform, and one of the highest APYs in the industry. This could be a major disappointment, considering how HSBC has a large network of ATMs not only in the U.S., but around the world. Even if you don't have an HSBC checking account, you can connect your external bank account to the Direct Savings account for easy funding and withdrawals. The HSBC Direct Online Savings Account is similar to other high-yield savings accounts in that respect, with its competitive APY. Consumers that switch their bank account to HSBC can currently earn £125 cash bonus on specific HSBC accounts (subject to eligibility). Receive direct deposits HSBC also gives its members the capability to connect their online savings account to any (and multiple) checking accounts, regardless of what other banks they are with. Even though HSBC is a brick-and-mortar bank located throughout the U.S., they aren't everywhere. HSBC Direct Savings Account The bank's standout savings account, the Direct Savings account offers the bank's most competitive rate. Synchrony does offer an ATM card connected to the savings account, which can make deposits and withdrawals easier with this online savings account. HSBC Direct Savings is an online-only savings account offered by HSBC, the massive international bank. I came across the Direct Savings Account like many of you, trying to find a high interest savings account with the best interest rate along with the most services with minimal fees. Discover Bank: Pricing information and data points from published website as of 12/20/2020. Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. However, deposits into savings accounts count toward the overall balance for waiving maintenance fees on checking products. HSBC enables its Direct Savings customers to deposit and withdraw money from their account in the following ways. We have not reviewed all available products or offers. CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. But, before you open your HSBC Savings account, do some homework and review your other options. It will do this after 12 … HSBC Direct Online Savings. Ally Bank: Pricing information from published website as of 1/1/2021. You can open a savings account in an HSBC branch, but as of this writing, the bank's other savings accounts have APYs ranging from just 0.01% to 0.15%. This high-yield savings offering from one of the largest banks in the world is one of our favorites on the market for these and a few other reasons, which we'll get into in this review. 9 /10. An ATM card is provided for easy withdrawal. Reviews; Calculators; Freesources; eBook; We couldn't find what you're looking for. You can connect the accounts, making online transfers a breeze. We do receive compensation from some partners whose offers appear on this page. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. Choose one of our categories to get back on your journey. Master your credit card game, build your credit score, and more. Log on to review Log on to review Log on to review How to review and update your address, phone number, and email address Reviewing and updating your personal details can easily be done through HSBC Online banking. HSBC has more than 40 million customers across the world. You can unsubscribe at any time. This is a basic online savings account without any bells and whistles. The account offers a competitive 0.15% APY, no monthly fees and a low minimum opening deposit. About CreditDonkey CreditDonkey is a bank comparison website. She also writes for The Ascent's parent company, The Motley Fool. †Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. Savings accounts. Learn what you need to do to qualify for this type of account and find out … HSBC Direct Savings is an online-only account, but HSBC has over 200 branches nationwide, so the bank could be a good fit if you want the option to speak with a banker face-to-face. The brick-and-mortar division of HSBC has low-rate accounts with fees that require some customer effort to waive, while HSBC Direct offers no-fee checking and high-yield savings … Plus, this rate is easier to take advantage of with a $1 minimum deposit to open and no monthly fee. This means that you’re required to use things like online banking, e-statements, and customer service over the phone. With the HSBC Direct Savings Account, you are able to earn one of the highest rates available! Kailey has been writing about banks, credit cards, loans, and all things personal finance since 2012. You are then free to make transfers or withdraw funds as you see necessary. Review of: HSBC Savings | Reviewed by: Chris Muller | Last modified: May 12, 2020 Editor's note - You can trust the integrity of our … Explore our picks of the best brokerage accounts for beginners for January 2021. APY. You do everything online from start to finish.If you have a current HSBC account, such as an HSBC Choice or HSBC Advance Checking, opening an account is even easier. Online savings accounts often have an advantage when it comes to interest rates, allowing them to outpace what traditional banks offer. Don't expect any bells and whistles with the account. It earns the same 0.01% APY as an Everyday Savings account on balances up to $14,999.99, but the rate bumps up to 0.05% if the balance is … Our ratings are based on a 5 star scale. HSBC account holders can access their accounts online and perform the following actions: 1. These results are based on a regular saver in NSW with $10,000 in current savings. Compensation may impact the order in which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. High APY and low fees, Best For: 0.30%, APY: HSBC UK . This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Once you are approved, you fund your account with funds from your connected account. The cash is FDIC-insured … 5 stars equals Best. You should consult your own professional advisors for such advice. They focus on investing, but forget about the liquidity necessary for emergencies. Up to 0.45%, APY: Low APY: The HSBC Direct Savings account currently offers a 0.30% APY (annual percentage yield) which doesn't compete with the best interest rates offered by high-yield savings accounts. Marcus: Information including rates, fees, terms, and benefits was obtained on December 26, 2020 from published websites and is believed to be accurate, but not guaranteed. Credit. 10/10. You must be at least 18 years old and have been a U.S. resident for the last 3 years. Review the details of your account and apply quickly and easily with the click of a mouse. 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