HSBC Choice and Advance Checking Review

HSBC choice and advance

HSBC Choice and Advance Checking Review. HSBC is one of the largest banking and financial service institutions in the world. More than 40 million customers in 64 countries and territories in Europe, Asia, the Middle East, Africa, North America and Latin America use HSBC for personal banking, commercial banking, global banking and more. Customers can apply for four different HSBC checking account options, two of which are reviewed in this guide.

HSBC Choice Checking

Choice is a basic HSBC checking account intended for day-to-day banking needs. The account comes with an HSBC Debit Mastercard card with no annual or monthly services fees, free online banking and access to HSBC ATMs. A $15 monthly maintenance fee applies unless customers meet the requirements to have the fees waived:

  • $1,500 minimum balance
  • No minimum balance with a recurring direct deposit at least once per calendar month

Customers can apply for a personal line of credit called Select Credit that can be used as optional overdraft protection, up to the amount of their credit limit. The company offers a referral bonus of up to $2,000 to customers who refer friends who open a qualifying HSBC checking account.

HSBC has almost 2500 dedicated branch locations and 1700 standalone ATMs around the world. Most of the ATMs do not charge a fee.


If you are considering this account, you should weigh the advantages against the disadvantages. This HSBC checking account has several benefits:

  • HSBC’s solid reputation
  • HSBC branches or ATMs available almost anywhere in the world
  • No monthly fee with direct deposit or minimum balance
  • User-friendly online banking and mobile app


While Choice is a generally good basic account, there are a few negatives to consider. There are two main disadvantages of the Choice account:

  • $15 per month is a high fee for a basic checking account.
  • You do not get anything beyond the basic features.

HSBC Choice Review

Choice is a solid basic checking account that may work well for many people who do not need a lot of extras. However, if you may have trouble meeting the requirements to waive the $15 maintenance fee, this account is probably best avoided.

HSBC Advance Checking

This HSBC checking account offers all of the features of the Choice account, plus a few more. Customers with an Advance account enjoy these bonuses:

  • Up to four rebates per month on non-HSBC ATM fees
  • Global View and Global Transfers
  • Access to preferred mortgage rates
  • Free checks
  • Access to the Advance credit card, preferred savings rates, discounted loan rates, online tools and extra support

To avoid the $25 monthly maintenance fee on this account, you need to have a recurring direct deposit or at least $5,000 in your account or investment balance or hold any HSBC U.S. residential mortgage loan.


If you are considering this account, you should consider the features it offers beyond the Choice account. This HSBC checking account has several advantages:

  • Perks such as increased saving rates and loan rate discounts
  • Non-HSBC ATM fee rebates
  • Free checks
  • Access to financial tools


Advance can be a good choice for many customers, but there are some downsides to consider. There are three main disadvantages of the Advance account:

  • High monthly maintenance fee
  • Higher minimum balance requirements
  • May not be able to take advantage of some perks if you do not qualify

HSBC Advance Review

This HSBC checking account offers some nice perks for those who can meet the minimum balance requirements. If you can qualify for the credit card and loan products, the perks you get with those make this account worthwhile.

Final Verdict

HSBC is a well-known bank with a positive reputation and a worldwide presence. This practically guarantees you access to your money wherever you choose to go. The Advance checking option offers some helpful perks for established earners who can meet the balance requirements. The Choice account is nothing special but can be a perfectly good starter or basic account for many people. Be sure to check out for the latest banking reviews and information!

Leave a Reply

Your email address will not be published. Required fields are marked *