HSBC is offering $75 to open a Plus Checking account and fund it with a minimum of $4,000 for 180 days.
The money will paid out in a HSBC MasterCard® GiftCard. While the minimum is $4,000 you can deposit that money into any account, including the high yielding HSBC Online Savings Account, which currently pays 3.5% APY. That's a pretty competitive savings account rate.
A glance at the terms and conditions revealed that you must maintain $15,000 in total combined balances including personal deposit, investment and qualifying credit balances to avoid a monthly fee of $15. If you don't, you'll be charged $45 for the 180 days the account is open, wiping out almost all of the $75 bonus. That means that in addition to the $4,000 in new money you must deposit to quality, you must deposit an additional $11,000 into an HSBC account or have $11,000 already there.
According to the CSR, you must first open the Plus Checking account to be sure that you get the $75.
For anyone who is willing to invest over $15,000 or already has $11,000 in an HSBC account, the offer provides an additional 1.9% return on the $4,000 you'd have to invest. That's not bad.
The account comes with all the standard checking features.
- Earn interest on your checking balance!
- No monthly maintenance fees when balance requirements from qualifying HSBC accounts are $15,000 or more[ 1 ]
- HSBC Debit MasterCard® with PayPass™ with no service or transaction fees on purchases†
- Earn a competitive interest rate on an HSBC Premium Money Market Plus Savings Account* with no monthly maintenance fee
- Free Personal Internet Banking, Online Bill Pay and eStatements
- No Fees at HSBC ATMs when you access your Plus Checking
- Monthly rebates of up to three non-HSBC ATM third-party surcharge fees for transactions completed outside NY state**
- Periodic CD bonus rates***
- Receive Home Equity and Personal Loan discounts****
The offer is available nationally.
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