HSBC is one of the largest multinational banks in the world, and the largest in Europe in terms of asset size. With assets amounting to $2.76 trillion, HSBC is the second largest bank in the world. It has more than 6,000 offices in 80 territories around the world, serving more than 125 million customers.
Below are the latest HSBC fees.
|Monthly Maintenance Fee||$3.00|
|Monthly Transaction Fee(s)||$35.00|
|Minimum Deposit to Open||$0.00|
|Minimum Deposit to Open Online||$1.00|
|Maximum Daily Online Limit||$350,000.00|
|Insufficient Funds (NSF)||$35.00|
|Unavailable Funds (UNA)||$35.00|
ATM and Other Electronic Funds Transfer Facility Charges
|US HSBC ATM Fees||$0.00|
|Other ATM Fees||$2.50|
|Retail Locations Accepting ATM|
Cards for Purchases
|Currency Conversion on Foreign|
|Foreign Transaction Fee||3%|
|Monthly Image Cancelled Check Return Fee||$5.00|
|Copy of Item or Statement||$5.00|
|Interested Party Statement||$5.00|
Other Account Related Fees
|Balance Verification Letter (Original)||$20.00|
|Balance Verification Letter (Each Additional Copy)||$5.00|
Other Miscellaneous Service Fees
|Canadian Check Processed||$2.00|
|Funds (Wire) Transfer-In||$15.00|
|Funds (Wire) Transfer-Out - Domestic||$35.00|
|Funds (Wire) Transfer-Out - International||$35.00|
|Foreign Currency Draft|
|US Dollar Draft - DFT (Commission USD)||$12.00|
HSBC stands for Hongkong and Shanghai Banking Corporation. The company traces its origins to Hong Kong and Shanghai, where the first branches were opened in the 18th century. The company was founded by a Scotsman, Thomas Sutherland, in Hong Kong which was then a British colony. A month later, an office in Shanghai was opened.
In 1980, the company acquired a U.S.-based bank, Marine Midland.
HSBC has four major businesses—investments, banking, loans, and insurance.
HSBC offers checking accounts, savings accounts, and certificates of deposits. It also has credit cards, debit cards, and overdraft protection.
HSBC checking accounts are divided into four types. Basic banking checking account is best suited for clients who write only a few checks every month. Choice checking has a monthly service fee of $15, with the fee waived if the monthly minimum balance is sustained.
The other checking account types are HSBC Advance and HSBC Premier which cater to high-earning clients.
HSBC credit cards come in four types as well. These are Premier World, Advance, Platinum with Rewards, and Platinum. All credit cards have no annual HSBC fees.
With the HSBC debit card, card holders have the convenience of paying at millions of locations worldwide. There are no transaction fees when you use a HSBC debit card, and it is easy to track all your purchases as debit card holders can sign up for internet banking services.
Banking with HSBC is easy and convenient since the banking giant offers mobile banking and online banking services. Clients can also bank through more traditional means like using HSBC ATMs or visiting an HSBC branch.
HSBC extends loans for people who want to acquire their own house through its home loans facility. It also extends loans to credit-worthy clients through its credit cards.
Through its home loans facility, HSBC can enable their clients to buy their own house or to refinance their existing home mortgage and enjoy greater savings.
HSBC also offers investment products such as mutual funds, structured products, equities, fixed income products, and asset allocation solutions.
Asset allocation solutions are comprised of three products. HSBC Spectrum 4 gives investors a lot of flexibility with its five asset allocation models. The minimum initial investment is at $25,000.
Another product is the Managed Portfolio Account with a minimum investment amount of $250,000. Then there is the HSBC World Selection Fund which is the most accessible product with minimum investment amount of $1,000.
For fixed income investments, HSBC offers clients access to products like municipal bonds, treasury notes and bonds, sovereign bonds, domestic corporate bonds, and unit investment trust or bond funds.