[In Branch only] HSBC $400 Business Checking Bonus


Update 1/14/21: Deal is back, this time for $400. Previous best was $350. Hat tip to reader Avi

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: In branch only [Branch locator]
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: $30, avoidable
  • Early account termination fee: $25, 180 days
  • Household limit: None listed
  • Expiration date: December 15th, 2019 April 30, 2021

The Offer

Direct link to offer

  • HSBS is offering a bonus of $400 when you open a new business checking account in branch and complete the following requirements:
    • Deposit a minimum of $5,000 within 30 days of account opening and maintain it for 90 days from the date you establish the minimum required
    • Complete 6 qualifying transactions within 60 calendar days of account opening. Qualifying transactions include: debit card purchases, any check deposited or written, ACH debits and credits, incoming and outgoing Real-Time Payments®, and incoming and outgoing wires; and
    • Maintain at least the minimum Qualifying Balance(s) in your eligible business checking account for 90 calendar days from the date you deposit the initial minimum Qualifying Balance. ($5,000 for Fusion First Checking).


The Fine Print

  • Offer Terms and Conditions: This offer runs from January 4, 2021 through April 30, 2021 and is available only in a U.S. HSBC branch. Customers who held any HSBC business account (including but not limited to loans and credit cards) from January 3, 2017 through and including January 3, 2021 are not eligible for this offer. All qualifying activities must be completed within the stated time frames in order to be eligible for the Welcome Deposit.
  • “HSBC Business Checking account” refers Fusion First, Fusion Smart and Fusion Professional accounts. Earn up to $400 when you open a new HSBC business checking account and fulfill all offer terms and conditions: $200 when you open a Fusion First account, $300 when you open a Fusion Smart account, or $400 when you open a Fusion Professional account. If you change to, or subsequently open an additional product with a higher or lower balance requirement, you will receive the bonus that corresponds to the initial product you opened. If you open more than one HSBC business checking account and close the first HSBC business checking account within the requirement period, you will not be eligible for the bonus. Your HSBC business checking account (Fusion First, Fusion Smart or Fusion Professional Account) must be in good standing at time of gift fulfillment.
    •  To be eligible for this promotion, qualifying new money balances as highlighted below must be made and maintained for 90 days into one of the following accounts:
      • Fusion First Checking Account: $5,000
      • Fusion Smart Checking Account: $25,000
      • Fusion Professional Checking Account: $75,000
    • b. The Qualifying Balances in new money outlined in 1.a. above must be held for at least 90 calendar days from the date you establish the minimum qualifying balance.
    • c. Monthly maintenance fees apply for all Fusion Checking Accounts, please consult your Terms and Charges Disclosures for fee amounts and waiver criteria.
    • d. You may be charged additional fees by the ATM operator or network used, including a fee by another HSBC entity operating ATMS outside of the U.S. Foreign currency conversion rates may still apply.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Fusion First checking account is the easiest to keep fee free it as a $30 monthly fee that is waived with a $5,000 balance (commercial non-credit balance)

Early Account Termination Fee

$25 fee if closed within 180 days

Our Verdict

Definitely worth doing now that the bonus is $400, better than the previous $350 and $250 bonuses and requirements are the same.  I’ll  be adding this to our list of the best business checking account bonuses, but please share your experiences in the comments.

Hat tip to reader Victor S

Useful posts regarding bank bonuses:

Post history:

  • Update 2/3/20: Deal is back, this time for only $250. I’d recommend waiting for the $350 offer to return. Unsure on end date. Hat tip to reader Firefly
  • Update 12/19/19: Deal is back and valid until December 31st, 2019. Hat tip to Andrew G

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