The easiest way to open an HSBC Checking account is to apply online. If applying online is not possible, applicants can apply by phone or by visiting an HSBC branch. As of 2015, HSBC offers four types of checking accounts: Basic Banking, Choice Checking, HSBC Advance and HSBC Premier.Continue Reading
After an application is submitted, applicants are either notified of their approval status or alerted if more information is needed to process their application, explains HSBC. Upon approval, applicants are notified of the Annual Percentage Yield and interest rate applied to newly opened and funded accounts. Under federal law, HSBC acquires, verifies and records personally identifiable information for each individual applying for an account.
HSBC offers various tiers of features and services with each account, notes HSBC. A Basic Banking account offers the smallest selection of features and services, and an HSBC Premier account offers the largest selection. A minimum balance of $10,000 is needed to open and maintain an HSBC Advanced account, and a minimum balance of $100,000 is needed to open and maintain an HSBC Premier account. Business owners are allowed to use their commercial balances to qualify specifically for these two accounts. HSBC provides full details regarding the application process on its website at US.HSBC.com. It also describes features of each type of account.Learn more about Bank Accounts