Deal has ended, view more bank account bonuses by clicking here.
Rate reduced to 1.01%
Update 5/20/20: Deal is back with this link. Hat tip to reader Burton
Offer at a glance
- Interest Rate: 1.01% APY
- Minimum Balance: None
- Maximum Balance: None
- Availability: Nationwide
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: $25, 180 days
- Insured: FDIC
The Offer
- HSBC Direct is offering a 1.3% APY savings accounts with no monthly fees or minimum balance requirements
- You can also get an additional $125 bonus if you open the account through slickdeals when logged in, you must also complete the rebate form
Avoiding Fees
This account has no monthly fees to worry about. There is an early account termination fee of $25 if the account is closed within 180 days.
Our Verdict
1.30% APY isn’t the highest yield savings account currently being offered, but it is close to. That being said this account might be of interest to some readers because HSBC is also offering a checking bonus of up to $700. To get the highest bonus you need to deposit up to $100,000 and even though this account is HSBC direct rather than HSBC apparently funds in this account do qualify for the bonus (and also help to keep it fee free). That makes that offer significantly more attractive.
You should be able to do this deal and the checking bonus deal, I’d recommend opening the checking bonus first just in case you can only do one of these, as those bonuses are bigger.
Post history:
- Update 4/19/20: Reposting as Slickdeals is stating you can do this bonus even if you did the last one. Hat tip to reader Maisel
- Update 4/15/20: Bonus is back at $125. Savings rate is down to 1.70% now.
- Update 4/5/19: Slickdeals now has a new rebate offer, this time increased to $125 (up from $100 last time).
- Update 3/16/19: APY has been increased to 2.25%. Still not the best high yield account but useful for some with the $100 additional bonus.
- Reposting as Slickdeals is offering an additional $100 bonus if opened when logged in using their link and completing the rebate form.
View Comments (515)
Anyone got 1099 for this deal from either HSBC or Slickdeals?
Are we supposed to get 1099 for this one?
Just report it from HSBC. It's only $125. I wouldn't want to risk an audit.
Report it from HSBC, not Slickdeals?
working on my taxes right now and thinking the same. I'd assume we would put down 'Slickdeals', but now idea where to find their Payer federal ID number. Also read in the slickdeals comments that it would be considered a rebate and therefore isn't taxable.. idk
Good question. I don't have any 1099 in my "documents" yet at HSBC. Kinda thinking no?
I am also with the group of folks who after 4 months of e-mails got the bonus. What a PITA
Finally got the bonus today. Opened the account end-April; started pestering Slickdeals in early October. Now to chase down US Bank ...
Finally got the bonus after being a month past the 60 business days. Had to email slickdeals a bunch
This was the case for me as well. I had to send 3 e-mails.
After multiple back and forth emails, finally got the bonus.
5/15: Applied Account for P1. did not get any response from HSBC till 05/25.
5/25: Applied Another Account for P1.
5/25: Applied Account for P2. Account approved next day.
5/28: Both the accounts approved for P1.
06/15: SD bonus $125 posted for First Account for P1.
07/01: SD bonus $125 posted for second account for P1.
07/12: SD bonus $125 Posted for P2.
Has anyone been able to close the account early without paying the early termination fee?
4/21 - HSBC account opened
7/16 - reached out to Slickdeals support via email as to why I hadn't received the bonus yet (60 business days had passed)
7/27 - finally got a reply back from Slickdeals requesting more documentation on my HSBC account, so I sent them the info
8/5 - got a reply back from Slickdeals that they forwarded my info for review and I should see bonus within 2 weeks
8/19 - still no bonus (after two weeks), so sent another email to Slickdeals support letting them know it had been 2 weeks...5hrs later I get a Paypal notification of $125 HSBC bonus payment
Congrats! I know it must have been excruciating to read dozens of other DPs while your case is being dragged out month after month for no good reason.
After multiple back and forth emails, finally got the bonus.
5/18: approved at HSBC
8/19: SD bonus $125 posted
Super easy to close the account via chat. Didn't even need to zero out the balance, they will send it as a check when closing.
What about the ETF $25 for closing within 180 days?