HSBC Premier $400 Bonus

HSBC Bank : HSBC Premier
Bonus Amount
$400
Account Type
Personal Checking
Available In Your Area?
Yes
Offer Expires In
Bonus Requirements
  1. Open a new Premier checking account using a referral code from an existing HSBC customer.
  2. Deposit $75,000 in either this account or combined across other HSBC accounts, OR have recurring direct deposits of at least $5,000, OR have a HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000.
Other Details
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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.

The bonus for the new customer is lower than it was previously, but they now allow the accounts to be opened online – which is a pretty big perk compared the old requirement of only in-branch.

You'll need a custom referral code, but the requirements are otherwise fairly easy to hit.

How To Earn The Bonus

The HSBC Premier promotion requires you to use a referral link, and optionally, set up direct deposits and deposit and maintain a minimum balance in order to earn the $400 bonus. Full requirements to receive this bonus are:

  1. Open a new Premier checking account using a referral code from an existing HSBC customer.
  2. Deposit $75,000 in either this account or combined across other HSBC accounts, OR have recurring direct deposits of at least $5,000, OR have a HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000.

The fine print

  • You must receive a referral code from an existing HSBC customer, but the account can be opened in-branch, by phone, or online.
  • Customers who currently hold, or have held in the past 3 years, an HSBC consumer 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.

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.

HSBC Premier

Fees

HSBC Premier does charge a monthly fee of $50, but there are several ways to get this waived:

  • Maintain a minimum balance of $75,000
  • OR, receive $5,000 in direct deposits each month
  • OR, hold a HSBC U.S. residential mortgage with an original loan of at least $500,000