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Competitive savings rates for the financial self-starters

HSBC Advance Savings1

REQUIRED:  Remember that an Advance Savings account can’t be opened unless you have an Advance checking account. If you don’t already have an Advance checking account we will add the Advance checking account to your application.

Make saving automatic

Reach your financial goals sooner with an Advance Savings account that earns a competitive interest rate and helps you make saving automatic with scheduled transfers between your accounts2 – no matter who else you bank with.

What you need to apply online

To open an Advance Savings account you need to have a qualifying HSBC Advance relationship which includes a new or existing:

  • HSBC Advance checking account and;

  • A recurring direct deposit from a third party to an HSBC Advance checking account at least once per calendar month OR, minimum balance of $5,000 in combined balances in U.S. Dollar personal deposit accounts and investment balance OR an HSBC U.S. residential mortgage loan.

You will also need:

  • You must be 18 years of age and have a Social Security Number
  • Current U.S. residential address and a U.S. residential address for the past two years
  • Valid U.S. ID (driver’s license, non-driver identification card, learner permit), passport or Permanent Residential Card/Green Card
  • Account information for funding your new account

Benefits

Earn interest

Earn interest with a competitive savings rate.

Automatic transfers

Take your mind off your money with automatic transfers2 between your checking and savings accounts.

No monthly maintenance fee on the Advance Saving account.

FDIC insured

Your money is FDIC insured to the maximum permitted by law.

How to apply

Important Service Announcement

Effective May 26, 2021

Last year, we at HSBC Bank USA, N.A. (“HSBC” or “the Bank”) set out on a journey to be able to better cater to our clients’ needs globally and from a wealth management perspective. You may have seen a recent announcement from us about the next phase of this plan. As a result of this new focus for HSBC, we are streamlining parts of the Bank. This decision was not made lightly, but is necessary for us to best position the Bank for the future. As part of this, some of our branches, clients, and employees will be transitioned to another financial institution in the coming months. 
 

What this means for you

If you are:

  • An existing HSBC customer who is opening a new deposit account or applying for unsecured credit, and you have been notified that you’re being transitioned; or
  • A new HSBC customer who is applying for unsecured credit or opening any other deposit account than an HSBC Premier checking, savings or credit card account; or
  • A new or existing HSBC Retail Business Banking customer who is opening a new deposit account or applying for credit, then*

    * Any HSBC account(s) opened or applied for today will be transitioned to a new financial institution in the near future.
     
  • If you are interested in insurance or investments, please contact an HSBC Securities (USA) Financial Consultant. 

 

More details and FAQs can be found at us.hsbc.com/GoingForward

New to HSBC or already have an HSBC Advance Relationship and want to apply for a joint Advance Savings account?

Already have an HSBC Advance Relationship and want to apply for a sole Advance Savings account?

Call to apply 866.909.1269


Questions?

If you need assistance or have questions about the application, please contact us or call 866.584.4722. You may also view Frequently Asked Questions.

Note: By proceeding with the application you are accepting the terms and can meet the requirements listed on this page
 

What happens next?

Once you have submitted your online application, we will notify you if it can be approved online or if other information is needed to complete the application.

All accounts will receive the Annual Percentage Yield (APY) and interest rate in effect when the account is opened and funded. See Terms & Charges Disclosure for more information.

Enhance your HSBC relationship

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person or entity that opens an account.

What this means for you: If you open a personal account, we will ask for your name, address, taxpayer identification number, date of birth, and other information that will allow us to identify you. Additionally, we will take certain steps to verify your identity, such as asking for your driver's license or other identifying documents or checking other sources. Similar identification requirements apply to non-personal accounts such as corporations and partnerships. Be assured that we recognize the importance of protecting your privacy and safeguarding the confidentiality of the information you provide to us.
 

Privacy and Security

HSBC recognizes the importance of protecting your privacy and we take great care to safeguard the confidentiality of your personal information. Visit our HSBC Security & Fraud Center to learn more about how HSBC helps keep your information secure, and what you can do to ensure a safe online experience.



1 The HSBC Advance Savings account is available to customers with an HSBC Premier4 checking or HSBC Advance3 checking account in the United States.

2 Federal Reserve Regulation D Transaction Limitations apply

3 To qualify for an HSBC Advance relationship, you need to open an HSBC Advance checking account and maintain balances of $5,000 in combined U.S. consumer and qualifying commercial U.S. Dollar deposit and investment‡ accounts OR a monthly recurring direct deposit from a third party to an HSBC Advance checking account OR an HSBC U.S. residential mortgage loan. Home Equity products are not included. A monthly maintenance fee of $25 will be incurred if one of these requirements is not maintained.

4 To qualify for an HSBC Premier relationship, you need to open an HSBC Premier checking account and maintain balances of $75,000 in combined U.S. Dollar personal deposit accounts and investment balances OR 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. Business owners may use their qualifying HSBC U.S. Dollar commercial balances to qualify for a personal Premier relationship. A monthly maintenance fee of $50 will be incurred if one of these requirements is not maintained.

HSBC Advance Mastercard® credit cards are issued by HSBC Bank USA, N.A., subject to credit approval and require a U.S. HSBC Advance3 or Premier4 relationship. To learn more, speak with an HSBC branch representative.

Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

 Investments and certain insurance products, including annuities, are offered by HSBC Securities (USA) Inc. (HSI), member NYSE/FINRA/SIPC. HSI and HSBC Insurance Agency (USA) Inc. (HIA) offer Insurance products. In California, HSBC does business as HSBC Securities Insurance Services, License # OE67746. HIA California License #: OD36843. Investment and Insurance Products: Not FDIC Insured | Not Insured by the Federal Government or any Federal Government Agency | Not a Deposit or other obligation of, or guaranteed by, The Bank or any Affiliate of the Bank | Subject to Investment Risk, including loss of Principal Invested. 

HSBC and its affiliates do not provide tax or legal advice. All decisions regarding tax implications of your Investments should be made in consultation with your independent tax advisor. 

Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for property located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be canceled or are subject to change at any time and cannot be combined with any other offer or discount. 

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

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