Who is HSBC Direct?

HSBC Direct is HSBC Bank USA, National Associations’s online-only banking business designed to help you reach your savings goals. Our high-yield accounts let you make the most of your money, and manage it online as it grows. We’re part of HSBC, one of the largest banking and financial service organizations in the world.

Who is HSBC?

The HSBC Group is headquartered in London, and has more than 10,000 offices in countries and territories worldwide. The HSBC Group is one of the largest financial companies in the world with close to 450 branches the U.S.

Where do I do my banking?

HSBC Direct operates exclusively online, so you can manage your account anywhere you can access the Internet. With the HSBC Direct ATM or debit card, you can use HSBC ATMs for many basic transactions to manage your Online Payment and Online Savings Accounts.

How do you keep your rates so high?

Since we operate completely online, we keep our overhead low and our paperwork to a minimum. It's less expensive to maintain, so we can give you a higher rate.

How quickly can I get to my money in my Online Savings or Online Payment Account?

With HSBC Direct, your money stays completely liquid, so you can get to it whenever you want.

• Withdraw cash anytime at an ATM with your ATM or debit card.
• Transfer funds instantly between your linked HSBC accounts.
• Transfer funds within 3 business days to or from any linked external account.

What do I do if I forget my username and password?

If you forget your username, call us at 1-800-975-4722 and we'll be happy to remind you. If you forget your password, click on the "Forgot Your Password" option on the Log on page for simple instructions.

I need more help. How do I reach a live person?

We'd be happy to help. There are several ways to reach us:

For help completing an application:

• Call us 24/7 at 1-888-404-4050.
• Click on the "Click to Talk" button within the application.

For help with an existing account:

• Log on and send us a secure BankMail.
• Click on "Contact Us" (on the lower left of hsbcdirect.com) to request a phone call from an associate.
• Call us 24/7 at 1-800-975-4722.
• Outside the U.S. call +1-716-841-7695.

What is an Online Savings Account?

It's a high-yield savings account you manage online to make the most of your savings. There are no monthly fees, no balance minimums, and you can access your money anytime. You can link your Online Savings Account to any other account, so it's just as easy to add to your savings as it is to access it.

How does an Online Savings Account compare to a traditional savings account?

The Online Savings Account offers a more aggressive rate than traditional savings accounts. You manage your savings entirely online, instead of visiting a branch. Unlike other types of accounts, your funds stay liquid and you can access your money 24/7 at any ATM or by making transfers online.

How is my interest calculated on an Online Savings Account?

HSBC uses the "Daily Available Balance" method which applies a daily periodic rate to the available balance in the account each day. Available Balance is the balance in your account each day minus (-) any deposited non-cash item (e.g., checks) for which we have not yet received credit.

What is an Online Payment Account?

It's a new type of account that allows you to earn interest on the money you keep on hand to pay bills, make purchases, and cover everyday expenses. There's no minimum balance or fees. Pair it with an Online Savings Account and you'll earn in two places instead of one. You can send payments electronically wherever you need, then move any extra cash into savings where it can grow even more.

How is an Online Payment Account better than a traditional checking account?

With an Online Payment Account, you earn a high interest rate on money that may have earned little or nothing before. You control your account online, scheduling payments and making transfers whenever you need. Plus, it's totally paperless, so there are no cumbersome checkbooks to manage — send anyone in the U.S. a payment from your account with just their name and address.

How is my interest calculated on an Online Payment Account?

HSBC uses the “Daily Available Balance” method, which applies a periodic rate (e.g., monthly or quarterly) against the average daily available balance for the period. The Average Daily Available Balance is determined by adding the available balance in the account for each day of the period and dividing that figure by the number of days in the period. Available Balance is the balance in your account each day minus (-) any deposited non-cash items (e.g., checks) for which we have not yet received credit.

What's the difference between interest rate and Annual Percentage Yield (APY)?

The interest rate is the non-compounded interest rate applied to account balances. The APY is the percentage of interest you earn on your account annually, based on the interest rate and the frequency of compounding for a 365-day period.

What is an HSBC Direct Online Certificate of Deposit (CD)?

It's a high-yield Certificate of Deposit, which provides a fixed rate of return for the term of the product. With no monthly fees, you are guaranteed a specific amount at the maturity date provided no early withdrawals are made from the account.

With HSBC Direct Online CDs, you can automatically roll over your matured HSBC Direct Online CD to an HSBC Direct Online CD of similar term at the then-current interest rate and APY or transfer your CD principal and interest to the Online Payment Account or Online Savings Account within the grace period without penalty.

What is the maturity date for an HSBC Direct Online CD?

The maturity date is the day when the HSBC Direct Online CD stops earning interest for that term. This day is based on the length or term of the HSBC Direct Online CD. Refer to your e-Receipt for the maturity date.

What is the grace period for an HSBC Direct Online CD?

The grace period starts on the HSBC Direct Online CD maturity date and is 10 calendar days long including the maturity date. During this period of time you can roll your HSBC Direct Online CD to another HSBC Direct Online CD, as well as add or withdraw principal without penalty. If you do not make any changes during the grace period, your HSBC Direct Online CD will automatically rollover to an HSBC Direct Online CD of similar term at the then-current interest rate and APY.

When is interest paid on an HSBC Direct Online CD?

At maturity the interest will be posted to your account.

What are the penalties for early withdrawal of money from an HSBC Direct Online CD?

If you withdraw any of your principal from your HSBC Direct Online CD, you will incur a penalty of 30 days simple interest. The penalty may reduce principal if there is insufficient interest available. There is no penalty for withdrawals made during the grace period.

Are there monthly maintenance fees for HSBC Direct Online CDs?

There are no monthly maintenance fees for HSBC Direct Online CDs.

What if I don't maintain the minimum balance for an HSBC Direct Online CD?

Interest is earned only for the periods of time when you maintain the minimum balance of the HSBC Direct Online CD. Any HSBC Direct Online CD below the minimum balance will earn 0.00% APY.

What is the maximum deposit that I can make to an HSBC Direct Online CD?

The maximum balance per HSBC Direct Online CD account is $2,000,000. When opening an account you can deposit funds in two ways, electronically up to $300,000, or by check up to $2,000,000.

What is the maximum withdrawal I can make from an HSBC Direct Online CD during the grace period?

If you transfer money to another existing HSBC account, there is no maximum. If you wish to transfer amounts greater than $100,000 to a non-HSBC account, you should call 1-800-975-4722.

What happens if the APY changes by the time the funds get deposited into an HSBC Direct Online CD account?

The interest rates and Annual Percentage Yields (APYs) may change at any time in the Bank's discretion without prior notice, before an HSBC Direct Online CD is opened. HSBC Direct Online CDs cannot be opened before the application process is finalized.

HSBC Direct Online CDs are opened on Business Days only. If the application process is finalized on a Saturday, Sunday or Bank Holiday or on a Business Day at a time when the processing of your deposit cannot be completed that same day, your account will be opened on the following Business Day. If this occurs, your account will receive the interest rate and annual percentage yield in effect on the date it is opened.

How do I get an ATM or debit card with my Online Payment or Online Savings account?

Just request a card on your HSBC Direct account application. Otherwise, you can always get a card later by sending us a BankMail or by calling 1-800-975-4722. We'll send your card by mail 7-10 days from either the day the account was opened or the date we received the request.

What's the difference between the ATM card and the debit card?

An ATM card is used mainly for deposits and withdrawals at ATMs, and in some cases, point-of-sale (POS) purchases with a Personal Identification Number (PIN). A debit card has all the features of an ATM card, plus it can be used anywhere MasterCard® is accepted.

You can choose to use an ATM card with your Online Savings Account or a debit card with your Online Payment Account. If you have both accounts, you can choose to link them both to your debit card for added convenience.

Both cards can be used for deposits and withdrawals at any HSBC ATM in the U.S. Your cards can be used at other ATMs, and although you may be charged a an ATM surcharge/convenience fee by the ATM network, we'll reimburse the first three fees charged each month, per account. Foreign currency exchange fees may apply to use of ATMs outside of the U.S., including HSBC ATMs.