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
  • HSBC was named the number one company in the Forbes 2000 list of the
world’s largest companies – the first for a non-US company
  • Named the number one bank of The Banker’s Top 1000 World Banks for
    2008
  • Named the world's most valuable banking brand according to The
    Banker magazine's Top 500 Financial Brand Listing
  • 2006 Best Online Savings Account - Kiplinger's
  • 2008 Best Overall Online Bank - Kiplinger's
  • 2006 Best Consumer Internet Bank - Global Finance Magazine

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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