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What are the benefits of a checking account?

From no foreign transaction fees to the ability to access and transfer funds from your account globally, a premium checking account can simplify your financial life.

Here are some of the key benefits.

1. Manage your everyday banking needs

Almost all employers will want to pay your wages directly into a checking account. You can use the same account to withdraw cash and make payments.

With an HSBC Premier[@premiereligibility] checking account, there are no fees on everyday banking transactions or for using HSBC ATMs worldwide[@atmcharge].

Explore: What bank details do employers need?

2. Make payments easy

3. Keep your money protected and secure

Customers with checking accounts at FDIC-insured banks in the U.S. receive automatic deposit insurance coverage from the FDIC (Federal Deposit Insurance Corporation). This means if those banks fail, the FDIC will compensate up to $250,000, per customer, per insured bank, for each account ownership category. This includes both individual and joint accounts as well as certain specialty accounts.

Keeping more than $250,000 with any one bank is risky, as your funds may be unprotected beyond that standard amount if the bank fails. So take your time to understand FDIC limits if you plan to have more than $250,000 in one bank.

Things to consider

You can usually apply online to open a checking account if you’re over 18 and a U.S. resident. Before applying, read through all the terms and conditions to be certain that it’s the best checking account for you.

Find out more about the HSBC Premier checking account.

You can set up a bill pay from your account to make regular payments. Plus, your checking account will include a debit card that you can use to make payments in person, online or over the phone.

HSBC Premier checking account holders can access their HSBC account globally and pay no foreign transaction fees on purchases with the HSBC Debit Mastercard.

If you have the HSBC U.S. Mobile Banking App[@dataratecharges], you can see your balance anywhere at any time, as well as make payments and transfers.

Explore more

Check if you’re eligible to apply for a joint account and ensure you have all the correct documents.
Find out how a digital wallet could help you.
Find out what documents you need to apply for an account and check your eligibility.

Additional information


    Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

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