HSBC Direct

HSBC Direct is an online savings account that is being offered through HSBC Bank USA.   It offers high interest earnings on money saved in their savings account because they have less overhead from operating online, and use those savings to benefit the customers savings accounts with higher interest.

HSBC Savings Account Details

You can open your account with as little as $1, and there are no minimum requirements for a balance ever.  Regardless of what your savings account balance is, there are no monthly fees charged to the account helping the high interest rate go even further!

While some online savings accounts require that you have a checking account with their bank (such as Citibank), you don't have to have an HSBC checking account to take advantage of the HSBC Direct savings account. You can connect your existing savings or checking account to the HSBC savings account to fund or withdraw money easily.  Managing your account is as easy as logging into your account online- you do not need to find and go to an HSBC bank branch at any time!

The interest rate is variable, but is typically around 5.05% APY- at times HSBC will run promotions with higher interest rates for specific time periods on all new money deposited.

Account Management

You can transfer money and withdraw money  to and from your other bank accounts using your online account management area.  An additional feature that HSBC Direct provides that is not available in all online savings accounts is the ability to deposit and withdraw money from your online savings account through any HSBC ATM as your savings account will come with an atm card.  This is certainly convenient if you're out on the town and realize you're short on cash or an emergency occurs!

Your deposits are insured by the FDIC maximum amounts, so you can feel comfortable knowing your money is as safe in your HSBC online account as it would be in any other bank account- but earning far more interest!  In addition, HSBC Direct participants in the highest levels of internet security available.

HSBC Tools

A nice feature of HSBC Direct's website is the savings calculator and the earnings calculator.  You can input the amount of savings you are starting with and how long you plan to leave it in the account  to find out how much you'll have after the specified time period.  This is helpful for people who are savings towards a very specific goal. 

For more information, visit www.hsbcdirect.com.