HSBC Bank Corporate Culture
If you are a “there’s strength in numbers” sort of person, HSBC Bank has 60 million customers around the world and over 3.8 million in the United States who feel the same way as you do. The US division of HSBC employs 14,000 people at over 400 branches. But perhaps the number that best describes the commitment HSBC bank has to its customers is the number one—as in being ranked number one according to the 2008 Forbes Global 2000 list of the world’s strongest companies. And even though HSBC is one of the largest and best financial institutions in the world they have managed to keep banking person with its online banking experience.
Big Fish, Little Fish Money Market Accounts
No matter who you are HSBC has the right money market account for your needs. For the big fish the Premier Investor money market account boasts the highest money market interest rates on balances of $25,000 or more. And with the tiered interest rates the higher your balance the more you will earn. For the little fish who wants to be a bigger fish, the HSBC Premium Money Market Plus account has no minimum balance requirements and no monthly account fees with qualifying accounts. Both money market accounts are a great way to increase the flexibility of your money while still earning outstanding interest rates.
Simple, High Rate Certificates of Deposit
HSBC is one of the world’s largest and best banks but their certificate of deposit accounts are simple to understand. Once you decide for how long you would like your money to grow, HSBC offers you the best cd interest rates. Since the terms and rates are fixed your savings are safe and guaranteed regardless of how the topsy-turvy the rest of the financial world becomes. All deposits are backed by the FDIC. Terms are available from six to 48 months to meet your needs. Funding your HSBC certificate of deposit is as easy as a transfer from an existing HSBC account, from a non-HSBC bank transfer or through the mail with a check or a money order. Once the certificate of deposit account is established you can relax until it matures. At the maturity of your HSBC cd, you can withdraw the interest as income or let it continue to grow for another term. HSBC believes that you can never save too much and their simple cd accounts make it so easy to save.
High Yield Savings Accounts
If you like earning the best savings interest rates but need flexible access to your money then an online savings account from HSBC is the perfect solution for you. Among our bank reviews, the HSBC online savings account is one of the highest interest savings accounts—five times the national average of traditional savings accounts—according to data available July 20, 2010. And to help you reach your savings goals HSBC only asks for $1 to get you started but of course you can add more. After that there are no monthly fees and no minimum balances with this savings account for you to worry about. Your account is managed online using the latest encryption technology so you don’t ever have to go to a branch or worry your identity is compromised. Should you need to access your money you can use almost any ATM in the country to withdraw funds from HSBC savings account.
Other Online Banking Tools
Checking accounts are so 1990. An HSBC Online Payment Account is a safe, secure way to pay all your bills. No more forgetting to buy stamps and no more writing checks because bill paying is just a couple of clicks away. The bank account is totally paperless so you don’t have to worry about losing statements or remembering where you filed the canceled check for the mortgage three years ago. An HSBC Online Payment Account also earns one of the best savings rate for an account of this type and it is a great companion to the high yield of your HSBC online savings account. To make bill paying as flexible as possible you can set up automatic payments or use the free debit card. Once you are an HSBC customer you can also apply for an HSBC Platinum MasterCard™ with three different reward options or without rewards. Regardless of which card you choose there are no annual fees and the interest rates are low. Visit HSBC to learn more about their services.
Summary of HSBC Bank Review
As one of the strongest companies in the world you can have confidence that no matter how you choose to grow your money, an HSBC online money market, saving or cd account is going to give you the best interest rates on savings with the convenience of online banking. Their accounts are simple to open, simple to maintain and even simpler to access. And because HSBC is a global banking leader no matter where you are in the world you have the clout to travel for business or enjoy an exotic vacation without worrying about being able to access your money. Overall, our HSBC bank review is that HSBC bank is a solid bank and one of the best banks in the world.
HSBC Bank Review,
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May 5, 2011 at 7:57 pm
While I haven’t banked with HSBC, I am still shocked at their customer service and slow turn around time. Not to mention the fees. Thank you for your thorough bank review on HSBC. Hope you find a better bank!
May 5, 2011 at 2:45 pm
HSBC would be my vote for the worst bank for the following reasons: 1. Two mistakes in three months. A. I lost my checks, they closed the account and order new checks from the closed account. My other bank put my account on hold until I explained the closed account check. B. I also lost my debit card. They ordered a new one and cancelled it before it reached me. That means 4 weeks without a debit card. Even my regular bank in KANSAS has an expedited service. 2. The correction of these mistakes (which has not been resolved) has taken hours and therefore hundreds of dollars in my time. From A. driving down to the branch two times (45 minute trips) B. Calling into the branch to talk explain the issue to three people, i. have them not refund the returned check fee from another bank ($19) ii. Didn’t refund my monthly fee ($18) iii. Would refund the check fee ($22) but only if I didn’t close the account while I was in the bank that day. I would have to wait supposedly one day for the $22 to be refunded, then call back in. I wouldn’t risk this nor waste more time so I closed the a total calling into the out-sourced. C. Calling into their system. i. Clearly they don’t want to talk to me or I wouldn’t be hung up on by pressing 0 repeatedly. ii. I don’t know my call in pin so I have to put in my SS# so they don’t hang up on me, then repeat the process of not knowing my call in pin 4-5 times before I have the option to talk to an operator. iii. The operator then has to have everything explained to them in order to tell me they can’t give me the direct number to the branch, nor the manager (both of which the manager gave me) iv. the operator gets an attitude when I explain that other operators said that they could email the branch manager when they say they could not. v. being put on hold for extended periods of time. vi. the indians I talked to don’t seem to understand that I am trying to correct a mistake their bank made, instead blaming me for not giving them all the options for how they can put me in touch with someone. My word of advice about HSBC: ENJOY!