Extended to December 31, 2025
Update 1/18/25: Extended to February 28, 2025
Update 11/24/24: Deal is back and valid until January 2, 2025
Offer at a glance
- Maximum bonus amount: $2,500
- Availability: Nationwide
- Direct deposit required: Yes
- Additional requirements: None
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $50, avoidable
- Early account termination fee: $25, 180 days
- Household limit: None listed
- Expiration date:November 22, 2024
Contents
The Offer
- HSBC is offering a $1,500 or $2,500 bonus when you open a new Premier checking account. Bonus you receive depends on the amount you deposit or invest the following for 3 full consecutive months following the new account opening month:
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Receive a cash bonus of $1,500 when you deposit or invest $100,000 to $249,999.99
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Receive a cash bonus of $2,500 when you deposit or invest $250,000+
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The Fine Print
- Offer valid from January 8, 2024, through and including March 27, 2024 (“Offer Period”). Only New Customers are eligible for this offer.
- Customers who have a current or past HSBC account in the U.S. on file are not eligible for this offer.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has a $50 monthly fee, this fee is waived if you do any of the following:
- 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
- Any 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
Early Account Termination Fee
$25, 180 days
Our Verdict
The lowest tier is the best rate of return at ~6%. It does say you can have the funds invested, but not sure how that works in practice. Premier checking itself earns a 0.01% interest rate so probably not worth considering for most people as the 6% rate is only marginal when compared to other high interest accounts. Better than the previous bonus offered.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
P1 + P2 partial DP:
2/20/25 P2 Premier checking account opened in branch with referral code from P2’s friend; banker manually entered code for $2,500 bonus referral promotion (https://www.us.hsbc.com/share-the-experience/referral/?cid=MLP0000302). Must fund within 30 days.
2/20/25 P2 savings account opened online from $2,000 savings promotion page for attempted stack. Must fund by 3/31/25. https://www.us.hsbc.com/savings-accounts/products/relationship-savings/
2/24/25 P1 Premier checking account opened in branch with referral code from P2; banker manually entered code for $2,500 bonus referral promotion. Must fund within 30 days.
2/24/25 P1 savings account opened online from $2,000 savings promotion page for attempted stack. Must fund by 3/31/25.
3/20/25 P2 savings account funded with $250,xxx by paper check and checking account funded with nominal amount.
3/24/25 P1 savings account funded with $250,xxx by paper check and checking account funded with nominal amount.
4/15/25 E-mail received by P1 and P2 confirming enrollment in (attempted stack) $2,000 savings promotion.
4/29/25 $500 referral bonus credits for P2 (for referring P1) and P2’s friend (for referring P2)
5/1/25 $5000+ real DD in P1’s checking account to maintain Relationship APY for June 2025.
5/1/25-5/30/25 $5000+ in total real DDs in P2’s checking account to maintain Relationship APY for June 2025.
5/30/25 Holding period ends for $2,500 checking bonus (3 full calendar months after account opening date).
6/30/25 $2,500 checking bonuses post for both P1 and P2.
6/30/25 Last day of holding period for (attempted stack) $2,000 savings bonus.
Will now move most of the money out, and wait to see whether the $2,000 savings bonus credits at the end of July for the stack. Will do $5,000 DDs for P1 and P2 checking accounts to waive $50 fee, and keep the account open.
The HSBC $1,500/$2,500 referral offer is now extend.
William Charles
https://www.us.hsbc.com/share-the-experience/referral/?cid=MLP0000302
“Offer valid from June 27, 2024 through December 31, 2025.”
“How to qualify
For a limited time, take advantage of our Share the Experience offer by opening a new HSBC Premier checking account with qualifying activities.
“Referred customers who have a current or past HSBC account in the U.S. on file are not eligible for this offer.”
Did anyone have their bonus post in the last few days? If so, can you please post your timeline? Was expecting bonus today and did not get it, so trying to figure out whether to reach out to them now or wait a bit more.
Anyone who referred someone to HSBC can share when the referral bonus posted? The terms seem to say within 8 weeks, but is not clear 8 weeks from what date.
Here’s our timeline:
P2 was referred by one of her friends, and I was referred by P2. P2 opened account on 2/20/25, and I opened account on 2/24/25. Complained to banker on 4/28/25 that neither P2 nor her friend had received the referral bonus. Banker opened a ticket and both referral bonuses posted the next day, 4/29/25.
“Congratulations, you qualified for our 3.75% Relationship APY
You’re earning our most competitive savings rate this month on your Premier Relationship Savings account ending in xxxx.
To continue qualifying for the Relationship Annual Percentage Yield (APY), simply meet one of the criteria each month and you’ll earn the Relationship APY, currently 3.75%, the following month.”
My last email from them regarding this was on May 5th. So I guess June’s email is on the way, maybe tomorrow?
Thank you!
FYI, I got the following email on 6/3 that says, “Effective 5/28/2025 the Relationship Annual Percentage Yield (APY).. will be 3.60% APY”. Additionally the heading is “New Relationship APY”. Still a good offer if doing the bonus.
Seeing Error 101 instead of referral code:
Share the Experience
(for the referral bonus: Refer and Earn – Share The Experience – HSBC Bank USA )
Anyone with active accounts can see a valid referral code ?
The $1,500/$2,500 referral promo is pretty good. You could also open the Premier Relationship Savings and/or Investement account (recommended) for making the qualifying deposits (similar what others are doing with the WF Premier Checking bonus). BTW the HSBC checking promo isn’t churnable and only available to new customers, TD Bank comes to mind.
You can request a referral code from someone here, preferably from a helpful soul. That’s how I was able to get in on the action, HTH. GL!
opened 1/3
1/16 Account balance $101,500
Holding period was Feb, March, April
How long do I wait for bonus? Will call Monday.
My HSBC checking bonus was posted on the 25th of the month following the month I met the requirement. So I guess your bonus will post this coming week.
Thanks will keep u posted!
Bonus posted on the 23rd. You were right!
Fantastic! Glad it worked!
120th day from account open? @guest_1990702
I was told they have 8 weeks from the time you fufilled the requirements.
Bonus posted on the 127th day. Thanks
Does anybody know when the $250k minimum is determined. Is it the value of the securities on the date transferred in or the minimum value during the entire 90 day holding period. I know that many brokers’ promotions are not affected by market fluctuations, only by actual withdrawals from the account, but not sure how HSBC treats this.
The terms for the checking referral offer is unclear about whether investment value fluctuation would affect bonus eligibility. You probably need to call or chat with the custom service to find out. Also they go by 3 calendar months for the maintenance period, not 90 days.
I am trying to make sense of this thread but things are going over my head. Can someone summarize this please?
favo🔗 @guest_1990702
From what I got, if I am a new customer
then I can do the referral offer where I have to keep 250k for 90 days plus and I can get $2500 bonus
What will that $250k earn during that 90 day period? Can I put it in mutual funds? Or can it be in premier savings getting 3.75% (looks like that rate has its separate requirements though)?
I had a regular checking account back in 2015 or so, so not sure if I will qualify for referral offer.
If not, then whats the best I can do? thanks
The savings offer expired on 02/28/25, but it might be extended. Check the link next week to see if it’s renewed if you’re interested.The checking referral offer expires on 06/30/25. If you’re a new customer, you can participate in the referral checking offer. By maintaining $100K or $250K for three full calendar months after account opening, you can earn $1,500 or $2,500, respectively.If you are eligible for the referral checking offer, the checking referral offer gives a better return than the savings offer, as the savings offer is $1000 or $2000 bonus for $100k or $250k respectively.Fund Maintenance Period Options:
You can place the funds in a brokerage account where the core position is HGDXX, a money market fund earning around 4% in dividends. Other money market funds (MMFs) might be available, also SGOV, but HSBC charges high trading fees. If you fund by cash, there’s no trading fee, as the cash will go into the core sweep position (HGDXX). Alternatively, you can ACAT securities into HSBC without trading to avoid fees.You can also keep the funds in a savings account at 3.75% APY. To qualify, you need $5,000 in direct deposits or $500 in debit card spending in the previous month. There was a rate promotion that granted the 3.75% relationship rate for the account opening month plus the first three months before the savings offer expired. However, it’s unclear if this promotion is still available or automatically applied to all new account holders. If you’re interested, I recommend confirming with customer service.Checking Referral Offer Eligibility:
The checking referral offer has lifetime language, so you need to be a “new customer” to qualify, but it’s unclear how far back HSBC retains records. Someone mentioned that despite having an HSBC account 10 years ago, their information had been purged, allowing them to qualify for the referral offer. To be sure, contact customer service and ask them to check if your records are still in their system, they should be able to look up by SSN. HSBC offers customer service by phone and by online chat and they usually reply pretty quick.
Hope this helps.