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[expired] HSBC Premier Checking $600 Sign-up Bonus - Full Review (Direct Deposit Required)


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 up to $600 (max. $100 per month) for eligible new customers who open an HSBC Premier checking account. Conditions apply. Member FDIC. [See 'DETAILS' for exact requirements]

Per the site:

Get up to $600 with a 3% Cash Bonus Checking Offer when you open a new HSBC Premier checking account and complete the following qualifying activities. > - Open your new HSBC Premier checking account online by August 31, 2021; and > - Set up Qualifying Direct Deposits into your new HSBC Premier checking account; and then > - Enjoy 3% Cash Bonus, up to $600, on Qualifying Direct Deposits up to $100 per month, during the first 6 calendar months after account opening > - You will automatically receive the 3% Cash Bonus in your new HSBC Premier checking account approximately eight weeks after completing that month's qualifying activities. > > Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

In other words, to get the full bonus that means you'll need at least $3,333 in direct deposits per month. Careful - though - as there is a hefty $50 monthly fee if you can't put up at least $5,000 in monthly direct deposits. So even at the $3,333 direct deposit amount to max out the bonus potential, you net just $50 ($100 bonus - $50 fee) each month unless you have $5,000 in direct deposits.

If you fit the target, you should take advantage. HSBC offers more than just big sign-up bonuses. They also have some of the best interest rates for savings and fantastic rewards credit cards. With their Premier Checking there are no foreign transaction, ATM, or wire fees. This is a good opportunity to discover what other products HSBC offers that fit your financial needs.

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 - March 31, 2021

Who is this bonus for?
Eligible states
Specific geography
Expiration date
Tuesday, August 31, 2021

Bonus requirements
Direct deposit - Amount | Frequency
Yes - $3,333 | 6
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
Maintain minimum balance of $75,000 in combined U.S. Dollar personal deposit accounts and investment balances OR have recurring direct deposits totaling at least $5,000 from a third party to an HSBC Premier checking account(s) per calendar month OR an HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000

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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