Everything You Need to Know About Savings, Copyright, Trademark and Patent Information. The HSBC High Rate Savings Account offers a decent interest rate and a number of value-added features for no monthly fee. Credit. “The HSBC Savings Account offers good monthly interest...” Written on: 30/08/2006 by bb111 (1 review written) The HSBC Savings Account offers good monthly interest rates, and it is easy to transfer money to different accounts. In fact, don't even expect a debit card. Please read our Privacy Statement and Terms & Conditions. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. This is a basic online savings account without any bells and whistles. Once you are approved, you fund your account with funds from your connected account. However, deposits into savings accounts count toward the overall balance for waiving maintenance fees on checking products. You may want to consider the HSBC Direct Online Savings account. But, before you open your HSBC Savings account, do some homework and review your other options. If you have a current HSBC account, such as an HSBC Choice or HSBC Advance Checking, opening an account is even easier. We have not reviewed all available products or offers. We review its range of bank accounts and the HSBC mobile banking app. Choose one of our categories to get back on your journey. Likability with checking account. HSBC Bank (Member FDIC) has an online-only savings account with no monthly service fees. American Express® High Yield Savings Account. The Ascent is reader-supported: we may earn a commission from offers on this page. Bottom line. Master your credit card game, build your credit score, and more. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. Review the details of your account and apply quickly and easily with the click of a mouse. 0.50%, Best For: This article contains references to products from our partners. Some accounts come with high maintenance fees, but HSBC might be a good fit for consumers looking for an online savings account with a global bank. We do receive compensation from some partners whose offers appear on this page. It is one of the big four banks in the UK. 9/10. HSBC account holders can access their accounts online and perform the following actions: 1. 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. Fees. The HSBC Direct Savings Account interest rate is higher than the national average, but you can still find a higher APY at other online banks. HSBC is one of the largest banks in the world, with physical branches all over the globe. No monthly maintenance fee, Best For: We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. However, you can move money between HSBC accounts through the mobile app -- for example, if you have an HSBC checking account. However, all information is presented without warranty. No maintenance fee: Unlike many branch-based savings accounts, the HSBC Direct Savings account doesn't charge a monthly maintenance fee. They focus on investing, but forget about the liquidity necessary for emergencies. The 0.15% APY is available at any balance you keep within the account… Online savings accounts often have an advantage when it comes to interest rates, allowing them to outpace what traditional banks offer. ISAs . Synchrony Bank: Pricing information from published website as of 1/1/2021. You do everything online from start to finish. 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. $1 minimum deposit: To open a new HSBC Direct Savings account, you'll need an initial deposit of just $1, which must be made from new money (not from another HSBC account). She also writes for The Ascent's parent company, The Motley Fool. Owning this account gives you access to HSBC's 24/7 Live Chat assistance, mobile check deposit, and easy transfers. *See the card issuer's online application for details about terms and conditions. Link this account to your Chase checking account for Overdraft Protection. It has no monthly service fee, and the minimum opening balance is just $1. Help your money grow with 1.00% AER/gross, fixed for 12 months. ATM/debit card access: Unlike some other online-based savings accounts, there's no ATM card or debit card of any kind available with the HSBC Direct Savings account. Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. Don't expect any bells and whistles with the account. HSBC Direct Savings Account Review (User Rating) Ranking. Any HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates. Consumers that switch their bank account to HSBC can currently earn £125 cash bonus on specific HSBC accounts (subject to eligibility). The Ascent does not cover all offers on the market. 9/10. HSBC Direct Savings is an online-only account, but HSBC also has over 200 branches nationwide. You get the benefit of around-the-clock banking combined with attractive APYs. HSBC UK . The HSBC Direct Online Savings Account is similar to other high-yield savings accounts in that respect, with its competitive APY. Transfer between HSBC accounts 4. Travel. HSBC Direct Online Savings. An ATM card is provided for easy withdrawal. Needs. Compensation may impact the order in which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. Maybe you've even abandoned the thought of a savings account because it just doesn't seem worth it anymore. Her work has appeared on USA Today, CNN Money, Fox Business, and MSN Money. These results are based on a regular saver in NSW with $10,000 in current savings. HSBC Direct Savings Account The bank's standout savings account, the Direct Savings account offers the bank's most competitive rate. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Apply Now. HSBC: Data points including rates, fees, terms, and benefits was obtained on December 20, 2020 from published websites and is believed to be accurate, but not guaranteed. $0. 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. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. Compare HSBC savings accounts. Mobile check deposit: You can use the HSBC mobile app to make check deposits into your account, and to move money between accounts. Choose the savings account that's right for you No matter what you're saving for, HSBC has a variety of savings accounts to help you reach your goals quickly and … You should consult your own professional advisors for such advice. Up to 0.45%, APY: While it won't get you rich quick, it does offer a healthy APY to help encourage you to keep funding that emergency fund. HSBC Direct Savings is a great, low-hassle account offering one of the most competitive APYs (0.15%) in the industry today. After 20 years as a regular HSBC client (with no problems other than the disappearance of many HSBC ATM machines in NYC) I've encountered 2 recent problems with HSBC false ads and impossible procedures. Reviews; Calculators; Freesources; eBook; We couldn't find what you're looking for. HSBC enables its Direct Savings customers to deposit and withdraw money from their account in the following ways. Enables its Direct savings is an online-only savings account, such as no fee... 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