HSBC Fusion Smart $300 Referral Bonus

HSBC has launched their next iteration of their "Share The Experience" referral program, where current HSBC customers can earn up to $2,000 by referring friends and family to the bank.

You'll need a custom referral code and the business account needs to be opened in-branch or by phone, but the requirements are otherwise fairly easy to hit.

Don't have a referral code? No worries. HSBC is also currently offering public welcome bonuses with the same offer and requirements (until April 30).

How To Earn The Bonus

The HSBC Fusion Smart promotion requires you to deposit and maintain a minimum balance and use a referral link, and optionally, set up direct deposits and make purchases using the account's card in order to earn the $300 bonus.

Full requirements to receive this bonus are:

1. Open a HSBC Fusion Smart checking account using a referral code from an existing HSBC customer.
2. Within 60 days, deposit $25,000 and maintain the balance for 90 days.
3. Within the same 60 days, complete 6 qualifying transactions (debit card purchases, write or deposit a check, ACH debits and credits, incoming and outgoing Real-Time Payments or wires).

The fine print

• You must receive a referral code from an existing HSBC customer, and the account must be opened in an HSBC branch or over the phone.
• Customers who currently hold, or have held in the past 3 years, an HSBC commercial deposit or investment account are not eligible.
• You will receive the bonus within 8 weeks from the date the new account is fully qualified.
• The new account must be open without being changed to a product with lower requirements and in good standing at time of the bonus fulfillment.
• New money (the initial deposit requirement) is defined as funds not previously held by any member of the HSBC Group in the U.S.
• For purposes of determining whether you have maintained the qualifying balance for the New Customer Bonus, New Money average balance will be calculated by averaging the end of day balances of each Business Day throughout the total 90 calendar day period.

How does this business checking offer from HSBC compare?

To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:

Chase

Chase Business Complete Banking℠

Bonus

$300

Account Type

Business Checking

Expires In

58 days

Requires

• Min Balance
• Card Spend (optional)

Full Details

U.S. Bank

Business Checking

Bonus

$500

Account Type

Business Checking

Expires In

33 days

Requires

• Min Balance
• Bill Pay (optional)
• Card Spend (optional)

Full Details

Live Oak

Live Oak small business checking

Bonus

$150

Account Type

Business Checking

Expires In

10 days

Requires

• Min Balance
• Bill Pay (optional)
• Card Spend (optional)

Full Details

Why HSBC Bank?

The American subsidiary of HSBC Bank is based out of New York City and has 160 branches in 10 states. Most of HSBC's brick and mortar banks are located in the NYC area, but they also have a presence in Los Angeles, Miami, and Washington, D.C. HSBC offers deposit accounts, personal and home loans, investment and retirement accounts, and credit cards.

Since 2005, HSBC has also been operating an online-only platform called HSBC Direct, which includes high yield checking, savings, and Certificate of Deposit accounts — all online or from your smartphone.

Overall, HSBC isn't our top pick if you're shopping for a new bank. With so few physical branches, you should consider them an online bank – but with worse rates, higher fees, and lagging tech. On the pro side, however, they consistently offer sign up bonuses (though many of which you'll need to claim in-branch). If you're eligible, we certainly recommend claiming the free cash – but otherwise stick to a different bank as your primary account.

Fusion Smart

Fees

Fusion Smart does charge a monthly fee of $30, but there are ways to get this waived:

• Maintain a monthly balance of $25,000 between this and any linked business or personal accounts

HSBC Bank Locations

You may sometimes be required to visit a branch in-person to take advantage of a welcome offer. Or, you may just prefer the convenience of banking with institutions that have locations near you.

HSBC Bank has a total of 24 branches in the United States.

Get a better idea of how well HSBC Bank can serve you by checking out their branches closest to your area: