My HSBC Online Internet Banking Account Review
HSBC Bank History
HSBC Holdings plc is one of the world's largest public banking and financial services institutions. The company is listed in several stock exchanges such as NYSE (Ticker: HBC), London Stock Exchange (Ticker: HSBA), Hong Kong stock Exchange (Ticker: 005), Euronext (Ticker: HBA) and BSX (1077223879). The HSBC Bank has a huge international network of over 8,800 branch offices in 88 countries. The HSBC is organized in six geographical regions. As of July 2010 it had total assets of $2.42 trillion, of which roughly 50% of assets were in Europe, a quarter in the Americas and a quarter in Asia (Hong Kong, Singapore, China).
The HSBC was founded in Hong Kong in 1865. The HSBC bank is formerly known as The Hongkong and Shanghai Banking Corporation up until 1990. The current headquarter is located at CanaryWharf, London, United Kingdom. The current HSBC CEO is Stuart Gulliver and the Bank Chairman is Douglas Flint.
In each region, HSBC Bank has 4 customer segments: Commercial Banking, Global Banking and Markets, Private Banking, and Personal Financial Services. HSBC Bank also provides insurance as well as banking services for its customers. Commercial Banking provides financial products and services to small and medium sized businesses. This business includes sole proprietors, partnerships, clubs and associations, businesses, and companies.
Global Banking and Markets provides financial solutions to corporate, major government, and institutional clients worldwide through various offices in 60 countries. Private Banking is one of the world's largest international private banking groups. Personal Financial Services provides a wide range of banking and related financial services to about >100 million individual and customers.
The HSBC financial products include:
- Finance and insurance
- Consumer Banking – HSBC Premier & HSBC Advance
- Corporate Banking
- Investment Banking
- Investment Management
- Global Wealth Management
- Private Equity
- Credit Cards
Bank Consumer Products
The major products for personal banking include
- Checking Account – include free online banking
- Savings Account – online saving with high interest
- Home Loans – Mortgage loan for consumer
- Insurance – HSBC Term Life Insurance
- Credit Card – Premier & Platinum MasterCard
- Investment – Retirement, Investing, financial advisor
Merger & Acquisitions
Recent HSBC major acquisitions include:
- Household International, Inc. for $14.8 billion in 2003
- The Bank of Bermuda Ltd. for $1.3 billion in 2004
- Metris Companies Inc. for $1.6 billion in December 2005
HSBC Online Banking
HSBC Online banking is free for HSBC customer. To access the HSBC Online Banking services, you will need
- An HSBC account and a PC with Internet access
- Web browser with full 128-bit encryption for Personal Internet Banking use
- Go to www.us.hsbc.com (US HSBC website) or www.hsbc.com (Global Website)
The following are HSBC-supported browsers that provide this highest level of encryption:
- Internet Explorer - versions 6.0 or higher
- Mozilla/FireFox – version 1.5 & 2.0 or higher
- Safari – version 2.0 or higher
Inside HSBC Online BankingClick thumbnail to view full-size
What can I do with HSBC Internet Banking?
You can do the following financial transactions if you sign up for HSBC online banking services such as
- View balances and transactions on various accounts such as checking or saving deposits, credit card, loans, and mortgage accounts
- Sign up for Free Bill Pay and Pay bills online such as cell phone, phone, electricity bill or water bill as well as anyone in the United States
- Review transaction information for the previous 12 months of deposit bank statements as well as 24 months of mortgage accounts
- Transfer funds between your HSBC accounts or Bank to Bank Transfers service.
- You can also move money between your HSBC accounts and other financial institutions such as credit unions and brokerage accounts.
- View information about your mortgage account including payment history and escrow
- Get various insurance products quotes such as Term Life Insurance
- View your brokerage and investment balances
- Request any additional Credit Card line increase for any HSBC Credit Card’s owner
- Apply for new HSBC select accounts and services
- Access to RecordCheck online which will provide canceled checks images for customer
- View your eligible checking and savings statements through eStatements or electronic statement
- If you have a checking account, you also can order new checks book
- Request and view various deposit account statements
- Request a Stop Check for an HSBC check if there is any issue
- E-mail HSBC Customer Relationship Center anytime for information on products and services or help with online banking
- Report suspicious transaction activity with Online Security
Checkings & Savings
A. Online Checking Accounts
HSBC offers variety selections of checking accounts such as
- Premier Checking Account – can access globally, $100,000 combined balances to waive monthly fee otherwise $50 per month, earn interest
- Plus Checking Account – for savvy savers, $15,000 combined balances to avoid $15 monthly fee, free HSBC Debit MasterCard, earn interest
- Choice Checking Account – Waived monthly fee with direct deposit or $1,500 in deposit balances (otherwise $8 a month), no interest, free online banking
- Basic Banking Checking Account - $3 monthly fee, free online banking & HSBC Debit MasterCard, No Interest
B. HSBC Saving Accounts
To satisfy various customer around the world, HSBC offer wide selections of Online Saving accounts
- Premier Investor Savings – High Yield Money Market Account with $25,000 or more balance, earn interest
- HSBC Online Savings Account – highest saving account rates, no minimum and no monthly fees
- Premium Money Market Plus – ear interest, no minimums and no monthly fees
- Regular Savings – competitive interest rate, free online banking
- HSBC Certificate of Deposit (CD) – compounded daily, competitive interest rate
Type of HSBC Personal Home Loans
- Mortgage Loan
- Home Equity Loan
- Premier Mortgage Loan
Home Equity for Premier
Other HSBC Bank Services
HSBC Credit Cards
There are 2 types of well known HSBC Credit Cards:
- HSBC Premier World MasterCard – include HSBC Premier Rewards, only for HSBC Premier clients, no foreign transaction fees, flexible rewards
- HSBC Platinum MasterCard – choose rewards such as Cash or Fly rewards or non rewards card, 1% cash back or 7,500 points travel discounts
HSBC Bank provides the customer with variety of financial products. The banking products and services include checking account, saving accounts, credit card, debit card, loan, insurance, investment and more. HSBC Premier can provide great feature for customer to access its fund from different countries. HSBC also offers an online saving account with 0.50% APY interest rate at present time.
If you need a credit card, HSBC also provides HSBC Premier World MasterCard which doesn't have any foreign transaction fees. This can provide great flexibility for any international traveller who purchase products or services during their vacation trip or business trip.
I wouldn't recommend its checking account if you can't meet their qualifying criteria for free checking. The Basic checking account do charge $3.00 per month with no minimum balance required.
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