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HSBC Advance Checking ($200 Welcome Deposit).


Advertiser and Editorial Disclosures The content below is NOT endorsed by the bank, and you should make sure to verify all terms and conditions with the bank itself before opening an account.

Get a $200 Welcome Deposit for eligible new customers who open a new HSBC Advance checking account and complete the following qualifying activities. Member FDIC. [See 'DETAILS' for exact requirements]

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.

Let us know what you think in the comments below.

Phalicia Chow - June 30, 2020

Who is this bonus for?
Eligible states
Specific geography
Expiration date
Wednesday, March 31, 2021

Bonus requirements
Direct deposit - Amount | Frequency
Yes - $500 | 3
Savings requirement | time
Bill pay
Debit card
Other requirements

Account details
Account type
Account features
FDIC Insured
Apply online
Monthly fees
How to avoid monthly fees
$5,000 in combined U.S. consumer and qualifying commercial U.S. Dollar deposit and investment accounts OR a recurring direct deposit from a third party to an HSBC Advance checking account OR an HSBC US residential mortgage loan.

Other details
Wait for reward (expected)
200 days
Hard pull
Leave account open
Other fine print
Customers who held any HSBC consumer deposit or investment account from January 7, 2018 through and including January 7, 2021 are not eligible for this offer. All qualifying activities must be completed within the stated time frames in order to be eligible for 3% Cash Bonus. To be eligible for the offer, your HSBC Premier checking account must be open without being changed to a product with lower balance requirements, and in good standing at the time of fulfillment.

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