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Who is HSBC?

The HSBC Group is headquartered in London, and sereves customers worldwid with around 8,500 offices in 86 countries and territories. HSBC is one of the world's largest banking and financial services organizations. In the U.S., HSBC deposit products are offered by HSBC Bank USA, N. A. which has over 475 branches in the U.S.

Where do I do my banking when I open an online only, product such as the Online Savings Account?

Our Online Savings, Online Payment, and Online CD accounts operate exclusively online, so you can manage your account anywhere you can access the Internet. With the ATM or debit card that comes with your online accounts, you can use HSBC ATMs for many basic transactions to manage your Online Payment and Online Savings Accounts and make withdrawals from nearly any ATM in the US.

How quickly can I access the money in my Online Savings or Online Payment Account?

Unlike a CD where your money would be committed for a certain term, your money stays accessible in our Online Savings and Online Payment Accounts, so you can get to it whenever you want. (Online Savings Account subject to transfer limits.)

Withdraw cash anytime at an ATM with your ATM or debit card.
Transfer funds instantly between your linked HSBC accounts.
Transfer funds within 3 business days to or from any linked external account.

What do I do if I forget my username and password?

If you forget your username, call us at 1-888-404-4050 and we'll be happy to remind you. If you forget your password, click on the "Forgot Your Password" option on the Log-on page for simple instructions.

I need more help. How do I reach a live person?

We are always happy to help. There are several ways to reach us:

For help completing an application:

Call us 24/7 at 1-888-404-4050.
Click on the "Click to Talk" button within the application.

For help with an existing account:

Log on and send us a secure BankMail.
Click on "Contact Us" (on the lower left of HSBCadvanceUSA.com) to request a phone call from an associate.
Call us 24/7 at 1-888-404-4050.
Outside the U.S. call +1-716-841-7695.

What is an Online Savings Account?

It's a high-yield savings account you manage online to make the most of your savings. There are no monthly fees, no balance minimums, and you can access your money anytime. You can link your Online Savings Account to any other account, so it's just as easy to add to your savings as it is to access it.

How does an Online Savings Account compare to a traditional savings account?

The Online Savings Account offers a higher rate than traditional savings accounts. You manage your savings entirely online, instead of visiting a branch. You can access your money 24/7 at any ATM or by making transfers online. (Transfer limits apply.)

How is my interest calculated on an Online Savings Account?

HSBC uses the "Daily Available Balance" method which applies a daily periodic rate to the available balance in the account each day. Available Balance is the balance in your account each day minus (-) any deposited non-cash item (e.g., checks) for which we have not yet received credit.

What is an Online Payment Account?

It's a new type of interest-bearing account that allows you to earn interest on the money you keep on hand to pay bills, make purchases, and cover everyday expenses. It only takes a $1 minimum to open the account and earn interest and there are no monthly fees. Pair it with an Online Savings Account and you'll earn in two places instead of one. You can send payments electronically wherever you need, then move any extra cash into your Online Savings Account where it can grow even more.

How is an Online Payment Account better than a traditional checking account?

With an Online Payment Account, you can earn a higher interest rate on the money you may have kept in a traditional checking account to cover everyday expenses, pay bills, or make purchases. You control your account online, scheduling payments and making transfers whenever you need. Plus, it's totally paperless, so there are no cumbersome checkbooks to manage, send anyone in the U.S. a payment from your account with just their name and address.

How is my interest calculated on an Online Payment Account?

HSBC uses the “Daily Available Balance” method, which applies a periodic rate (e.g., monthly or quarterly) against the average daily available balance for the period. The Average Daily Available Balance is determined by adding the available balance in the account for each day of the period and dividing that figure by the number of days in the period. Available Balance is the balance in your account each day minus (-) any deposited non-cash items (e.g., checks) for which we have not yet received credit.

What's the difference between interest rate and Annual Percentage Yield (APY)?

The interest rate is the non-compounded interest rate applied to account balances. The APY is the percentage of interest you earn on your account annually, based on the interest rate and the frequency of compounding for a 365-day period.

What is an Online Certificate of Deposit (CD)?

It's a high-yield Certificate of Deposit that provides a fixed rate of return for the term of the product. With no monthly fees, you are guaranteed a specific amount at the maturity date provided no early withdrawals are made from the account.

With Online CDs, you can automatically roll over your matured Online CD to an Online CD of the same term at the then-current interest rate and APY or transfer your CD principal and interest to the Online Payment Account or Online Savings Account within the grace period without penalty.

What is the maturity date for Online CD?

The maturity date is the day when the Online CD stops earning interest for that term and is based on the length or term of the Online CD. Refer to your e-Receipt for the maturity date.

What is the grace period for an Online CD?

The grace period starts on the Online CD maturity date and is 10 calendar days long including the maturity date. During this period of time you can roll your Online CD to another Online CD, as well as add or withdraw principal without penalty. If you do not make any changes during the grace period, your Online CD will automatically rollover to an Online CD of the same term at the then-current interest rate and APY.

When is interest paid on an Online CD?

Your e-Receipt will indicate what is applicable to your account. Interest compounding depends upon product options available at account opening. Depending on the term and other features of the account, interest may be credited and paid monthly, quarterly, semi-annually, annually or, if the account term is one year or less, at maturity. If periodic interest payments are available, you may choose to receive a check or have the interest credited to another HSBC deposit account. Even if periodic interest payments are not available, you may withdraw any earned interest on or before the maturity date with no early withdrawal penalty.

What are the penalties for early withdrawal of money from an Online CD?

If you withdraw any of your principal from your Online CD, you will incur a penalty of 30 days simple interest. The penalty may reduce principal if there is insufficient interest available. There is no penalty for withdrawals made during the grace period.

Are there monthly maintenance fees for Online CDs?

There are no monthly maintenance fees for Online CDs.

What is the minimum balance for Online CDs?

The minimum balance to open an online CD is $10.

What is the maximum deposit that I can make to an Online CD?

The maximum balance per Online CD account is $2,000,000. When opening an account you can deposit funds in two ways, electronically up to $300,000, or by check up to $2,000,000.

What is the maximum withdrawal I can make from an Online CD during the grace period?

If you transfer money to another existing HSBC account, there is no maximum. The daily limit for a withdrawal during the grace period is $350,000. The monthly limit is $2,000,000. If you wish to transfer amounts greater than $350,000 to a non-HSBC account, please call 1-888-404-4050.

What happens if the APY changes by the time the funds get deposited into an Online CD account?

The interest rates and Annual Percentage Yields (APYs) may change at any time at the Bank's discretion without prior notice, before an Online CD is opened. Online CDs are not considered opened before the application process is finalized and the CD is funded.

Online CDs are opened on Business Days only. If the application process is finalized on a Saturday, Sunday or Bank Holiday or on a Business Day at a time when the processing of your deposit cannot be completed that same day, your account will be opened on the following Business Day. If this occurs, your account will receive the interest rate and annual percentage yield in effect on the date it is opened.

How do I get an ATM or debit card with my Online Payment or Online Savings Account?

Just request a card on your HSBC account application. Of course, you can always request a card later by sending us a BankMail or by calling 1-888-404-4050. We'll send your card by mail 7-10 days from either the account opening date or the date the request is received.

What's the difference between the ATM card and the debit card?

An ATM card is used mainly for deposits and withdrawals at ATMs, and in some cases, point-of-sale (POS) purchases with a Personal Identification Number (PIN). A debit card has all the features of an ATM card, plus it can be used anywhere MasterCard® is accepted.

You can choose to use an ATM card with your Online Savings Account or a debit card with your Online Payment Account. If you have both accounts, you can choose to link them both to your debit card for added convenience.

Both cards can be used for deposits and withdrawals at any HSBC ATM in the U.S. Your cards can also be used at other ATMs however you may be charged an ATM surcharge/convenience fee by the ATM network. HSBC will reimburse the first three fees charged each month to the debit card associated with your Online Payment Account Foreign currency exchange fees may apply when using ATMs outside of the U.S., including HSBC ATMs.

How do I add an additional account holder?

In order to add a secondary account holder to your HSBC Online Account, please complete the linked form below.

Add a Customer Form

If the individual you are requesting to add to your account is not a US citizen, two forms of identification will be necessary. Below is a list of acceptable forms of ID:

US Driver's License/No driver's Identification
Alien Registration ("Green Card")
Foreign Passport
Foreign National Identity Card with photograph
Permanent Resident Card with photograph
Temporary Resident Card with photograph
U.S. Employment Authorization Card

Please mail us the completed form, copy of your Photo ID, a copy of Photo ID for the person to be added to your account and any other identification, if necessary. Please, be sure that the bottom of the form is signed by both parties.

How do I change my name on my account?

In order to update your name on your HSBC account(s), please complete the form linked below and return with all necessary information.

Name Change Form

Below is a list of acceptable forms of ID:

US Driver's License/No driver's Identification
Alien Registration ("Green Card")
Foreign Passport
Foreign National Identity Card with photograph
Permanent Resident Card with photograph
Temporary Resident Card with photograph
U.S. Employment Authorization Card

Please mail us the completed forms, copy of your Photo ID, a copy of any legal documents supporting the name change, and a new "MDA". Please, be sure that the bottom of the form is signed.

How do I change the address on my account?

You can change your address online or by completing the process outlined below.

Online:
Log into Internet Banking and submit a request.
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Mail / Fax:
To update the address on your HSBC account(s), please complete the forms below.

Address Change Form

Please mail or fax us the completed form and ID (example Drivers license). Only the individual(s) that provide ID and signatures on this form will have their address change. Please, be sure that the bottom of the form is signed.

Why was HSBC Direct renamed HSBC Advance? What happened to HSBC Direct?

The name change is consistent with HSBCs global focus. Nothing about your online-only accounts will change. You will still enjoy the same features and benefits, and no monthly fees. Your Online Savings Account, Online Payment Account and Online CDs are still supported and delivered to you by HSBC Bank USA, N.A.

Will the rates on any of my accounts change?

Online Savings and Payment Account rates are variable and subject to change anytime. Online CD rates are also subject to change prior to account opening and funding.

Will I be charged more fees with HSBC Advance than I was with HSBC Direct?

There will be no change to the fee structure of our online-only accounts after the name change.

Do I need to be issued new ATM/Debit cards with HSBC Advance?

No. There are no plans to issue new cards to customers at this time.

Will there be changes to the Terms and Charges for formerly Direct customers?

There are no changes to the Terms and Charges other than the new Advance brand name.

Questions?

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