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HSBC Bank vs Citibank

HSBC is a large full-service global bank. How does it compare to Citibank? Read our comparison chart below.

HSBC is a large multi-national bank and offers several checking accounts for different needs. HSBC Direct is the online banking operation and offers high interest savings for just $1 minimum deposit with no service fees.

While Citibank has over 700 branches across the U.S. Accounts must be opened as a checking & savings package. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.

Compare HSBC with Citibank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 HSBC BankCitibank
 Visit SiteLearn More
 

HSBC Bank

Citibank

SPECIAL OFFER
HSBC $450 Premier Checking Bonus - Learn More

Read HSBC Review

OFFER
Citi Priority Account - Up to $1,500 Cash Bonus

Read Citibank Review

 

Benefits and Features

SavingsHSBC Direct Savings: 0.15% APY. $1 minimum opening deposit and no monthly service fee. Deposit checks easily by taking a picture with your phone using HSBC Mobile Banking.CitiĀ® Accelerate High-Yield Savings available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois.
CD0.20% to 0.30% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 0.30%. Minimum deposit of $1,000 to open.
Check
CheckingBasic Banking: no minimum requirements; $1 monthly service fee
Choice Checking: $15 monthly service fee waived if you set up direct deposit OR maintain a minimum monthly balance of $1,500
Advance Checking: $25 monthly service fee waived if you maintain a minimum monthly balance of $5,000 in combined HSBC deposit and investment accounts.
Premier Checking: $50 monthly service fee waived if you maintain a minimum monthly balance of $75,000 in combined HSBC deposit and investment accounts.
Citi Priority Account: 0.03% Annual Percentage Yield (APY)
Money Market 
Check
Customer Service
24/7
24/7 Live Customer Service (Telephone)
ATMsAny HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates.More than 65,000 fee-free ATMs at Citibank branches and participating retail locations nationwide, including Target, CVS Pharmacy, Rite aid, Walgreens, Duane Reade and ATMs displaying Allpoint or MoneyPass logo.
IRA CD 
Check
IRA Money Market 
Check
LocationsHSBC - 240+ branches, mostly on the West and East coasts
HSBC Direct - online only
More than 700 Citibank branches (concentrated in New York, Chicago, Los Angeles, San Francisco, Washington DC and Miami)
 

CreditDonkey® Reviews

 HSBC BankCitibank
SavingsStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
CheckingStarStarStarStarStarStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
CDStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarHalf Star
Pros & ConsPros:
  • Global presence
  • High online savings APY
Cons:
  • Not in every state
Pros:
  • Perks for high balance customers
  • Many fee-free ATMs
  • Global presence
Cons:
  • No free checking option
  • Higher balance requirements
  • Low savings APY
Bottom LineLarge full-service global bank... Read full reviewLarge national bank best for high balance customers... Read full review
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    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

    HSBC: Data points including rates, fees, terms, and benefits was obtained on December 20, 2020 from published websites and is believed to be accurate, but not guaranteed.

    Citibank: Pricing information from published website as of 09/15/2021. This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

    Citibank: This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

    HSBC
    Member FDIC

    HSBC Premier Checking - $450 Welcome Deposit

    Expires 1/5/2022
    • Get a $450 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities.
    • Open your new HSBC Premier checking account online by January 5, 2022; and
    • Make recurring monthly Qualifying Direct Deposits totaling at least $5,000 from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening.
    • You will automatically receive the $450 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It's that simple.
    • Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
    Citibank

    Citi Priority Account - Up to $1,500 Cash Bonus

    Expires 1/4/2022
    • Earn up to $1,500 cash bonus when you open a new account with required activities
    • Open a new eligible checking account in the Citi Priority Account during the offer period 10/5/21-1/4/22
    • Within 20 days of opening, deposit $50,000 in New-To Citibank funds between the new checking and savings accounts
    • Maintain a minimum balance of $50,000 in the checking account for an additional 60 consecutive calendar days from the 21st day
    • After all required activities are met, the cash bonus will be deposited to your account within 90 calendar days

    Which is Better: HSBC or Citibank?

    Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing HSBC or Chase.

    In short: HSBC's savings and checking are notable. In particular, the checking is excellent.


    Articles on HSBC Bank

    HSBC Reviews

    HSBC Bank offers a full array of services for different needs, including a high-yield online savings and several checking options. But there are downsides. Read on for the pros and cons.

    HSBC Savings Account

    Are you tired of abysmal interest rates on your savings accounts? Maybe you've even abandoned the thought of a savings account because it just doesn't seem worth it anymore.

    HSBC Premier Checking Bonus

    HSBC Premier Checking is offering $450 cash bonus . Find out how to qualify for this promotion.

    HSBC Advance Checking

    Are you tired of not earning interest on your checking account? Maybe you want more than just check writing privileges in exchange for depositing your money. HSBC Advance Checking may make you look at banks in a different light.

    HSBC Premier Checking

    Are you looking for a checking account that does more than allow you to write checks? If you are a high net worth individual, the HSBC Premier Checking account may be what you need. This top-of-the-line checking account offers access to a personal Relationship Manager.

    Articles on Citibank

    Citibank

    Citibank, a CreditDonkey partner, offers banking services and credit cards. But service fees and balance requirements are on the high side. Is it the right bank for you?

    Citibank Open Account

    Opening a Citibank account is easy. Take a look at what you'll need, plus find out how to earn up to $1,500 bonus.

    Citi Priority

    Earn up to $1,500 for opening a Citi Priority Account with required activities. Find out how to take advantage of the huge cash bonus.

    Citi High Yield Savings

    Citi now offers high-yield savings with one of the best interest rate. But it's only available in select markets. Read this review to see if it's good for you.

    Citibank Routing Number

    Looking to transfer money in or out of your Citibank checking or savings account? Find your Citibank routing number and learn about money transfers below.

    Which Do You Think is Best?


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