Per the site:

Get a $200 Welcome Deposit for eligible new customers who open a new HSBC Advance checking account and complete the following qualifying activities.

• Open your new HSBC Advance checking account online by March 31, 2021; and
• Make recurring monthly Qualifying Direct Deposits totaling at least $500 from a third party to your HSBC Advance checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening

You will automatically receive the $200 Welcome Deposit in your new HSBC Advance checking account approximately eight weeks after completing all qualifying activities. It's that simple.

Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

This is one of the best bonuses out there for this tier. If you got at least $500 in cash coming in per month, go for it.

Even though there is a big monthly fee, you will inherently avoid it by attempting to get the bonus. Any direct deposit per month waives the $25 fee.

A note - the account opening process for HSBC is reported to be more involved than the average bank account. Expect to get a "pending" status after applying online, and you will likely be asked to verify information over the phone or by email. Still - very worth the trouble for such a generous bonus.

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