| HSBC has jumped into the online banking business. HSBC Direct is now HSBC Advance and is the online arm of one of the world's largest financial services companies. HSBC has a full range of financial services, including banking, mortgage lending, insurance, retirement planning, credit cards, and investment services available to their customers. HSBC also has a robust commercial banking unit. Online banking is but one of their financial services businesses. They operate in most of the world's financial markets, with offices on 6 of the globe's 7 continents; 85 countries in all. What does HSBC Advance Bank have going for it as an online bank? As with some of their main competitors, INGDirect and WTDirect, a major advantage they possess over traditional banks, even those with an online presences, is low overhead and flexibility. For the customer this translates into high interest rates on their savings and checking accounts. HSBC Advance Bank Company Facts Name: HSBC (Originally the Honkong and Shanghai Banking Corporation Limited) Year Founded: Original parent company, The Hongkong and Shanghai Banking Corporation Limited, was founded in 1865. HSBC Holdings plc founded in 1991, and HSBC Direct Bank began operations as an online bank in November, 2005. Chairman: S K Green CEO: Michael F. Geoghegan HSBC Corporate Office Location: HSBC Bank USA, N.A. P.O. Box 2690 Buffalo, NY 14240-2690 HSBC Customer Service Phone 1-800-975-4722 HSBC Stock Market Trading Symbols: NYSE: HBC London SE: HSBA Jan - June 2008 Revenue (millions): $42,912 total revenue, net operating income $912 - parent company HSBC holdings Number of HSBC Direct Account Holders (as of Jan 2009): 1.6 million Number of Employees (HSBC Direct only) FDIC Insured: Yes Local Branches: Approximately 10,000 local branch offices world wide Banking Services and Features Offered: High-Yield Checking, High-Yield CDs, High Yield CDs, Quick Account Transfers between HSBC Direct accounts or to/from outside accounts, Free online bill pay with guaranteed ontime payment arrival, MasterCard and Visa Credit Cards, automatic balance and payment alerts and confirmations, view HSBC and non-HSBC accounts on one page, download banking and transaction information into Microsoft® Money or Quicken® Use any ATM, fees will be reimbursed for the 1st 3 monthly uses of a non-HSB ATM. Minimum Balance Required in Savings Account: No minimum balance required for high yield savings account (Current Interest rate on savings account is 2.25% APY, as of 2-18-09) Minimum Balance Required in Checking Account: HSBC has an electronic payment account. This is basically an electronic checking account, and allows paying bills without traditional paper checks. Intrest on the online payment account is currently 2.25% APY Deposit Methods Accepted: wire transfer, conventional check through the mail, electronic transfer between accounts (HSBC Direct or other institutions) HSBC Advance Daily Transfer Limits In - $300,000 Out - $100,000 HSBC Routing Number 021001088. HSBC Awards
Notable HSBC is an extremely environmentally conscious organization. Sustainability is a core company value. In 2005 HSBC became the first major bank to become 100% carbon neutral through the adoption of a comprehensive carbon management plan that includes energy conservation and adoption of green energy sources. Some of their new corporate facilities and local branches have solar panels to generate electricity, and all new facilities are constructed using green, sustainable methods. HSBC Advance Online Bank User Comments and feedback from around the Internet "....I have never had to call the help desk with any online problems & have never had to call because I couldn't do something. The site has also never been down when I have wanted to use it. The site is also very quick to navigate and there is no problem with pages loading." - Ciao User Forum "I'm still with them after more than 5 years and will always be........." - eMoneyCentral.com User Forum user post ".HSBC is great, imho, and I've never had any serious problems. Their transfer tool makes moving money around extremely simple....." - eMoneyCentral.com user post "I agree, I have an HSBC Direct account too, plus a business checking acct. They're great. No worries and lots of yield!...." Yahoo Answers "........HSBC pays the best attention to security throughout signup, password assignment, and usage (especially bank transfers)...." - Morningstar User Forum To find out more about HSBC Direct online bank, such as how you can earn Interest rates that are between 6 (Savings accounts) and 10 (Checking accounts) times the national average |
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HSBC Advance Online Review and Information
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HSBC Advance Online Bank
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