Review: HSBC Advance Checking Account


Top perks

No minimum requirements to open the account: You don’t need to put any money in your HSBC Advance Checking Account right away if you open the account with a HSBC representative’s assistance at one of its branch locations. Those who prefer to open an account online only need $1 to do so. But you’ll need a minimum balance of at least $5 if you’d like to earn interest, and you may need a much higher balance to avoid a monthly maintenance fee.

Four ATM fee reimbursements per month: You can withdraw money for free at any HSBC Bank ATM, but if there isn’t one near you, that’s OK. HSBC will also reimburse you for up to four out-of-network ATM fees per month. This isn’t as many as some other banks offer, but it should be plenty for all but the most frequent ATM users.

Option to add a personal line of credit: HSBC Advance Checking Account holders have the option to apply for Select Credit. This is a personal line of credit that you can use as needed, so you don’t have to worry about taking out a personal loanstyle=”text-decoration: underline”> for a large purchase. You can also link it to your HSBC Advance Checking Account to use it as a form of overdraft protection if you’re concerned about accidentally withdrawing more than you have.

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Free basic checks: All HSBC Advance Checking Account holders can get basic checks for free. There are a few styles for you to choose from, but if you want something other than the basic checks, you will have to pay for them

FDIC insured: Your funds are protected by the FDIC, which covers up to $250,000 per depositor, per institution in the unlikely event of a bank failure.


View more information: https://www.fool.com/the-ascent/banks/checking-accounts/hsbc-advance-checking-account-review/

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