bank rates

HSBC Expands to Connecticut

HSBC has been aggressively cornering the online banking market in America. For those who live in California, have you noticed how HSBC bank offices have been popping up everywhere?

It looks like HSBC plans to expand its presence in Connecticut. Ever since HSBC started offering 5.05% on their online savings account, they have been creating quite a buzz in the online personal finance community. Keep an eye out for HSBC because they are on the come up.

HSBC Bank has well over 450 individual, full service branches throughout the US, the majority of which are situated in New York, 19 branches in California, Connecticut, 16 branches in Florida, and New Jersey. A subsidiary of HSBC USA Inc, it is one of the top ten largest bank holding companies when ranked by assets. According to the latest assessment, HSBC USA has assets that value near the 300 billion dollar mark. HSBC boasts 4 million customers that access its global markets and global services, and supplies customers with both personal and commercial banking options. Moreover, HSBC USA has 60 million satisfied customers world wide – HBSC Bank offers outstanding service in terms of personal and consumer finance, commercial banking, and corporate investment banking.

HSBC Group has a headquarters based in London and is considered one of the biggest financial institutions in the world. HSBC Bank provides a broad range of financial products and personal services including branch services, cash management services, commercial real estate loans for business startups, custody services, deposits, estate services, installment term loans, insurance policies, Internet banking options, investments services, middle market lending, mortgages, mutual funds, philanthropic services, revolving term loans, tailored lending options, tax advice, trust services, and wealth advisory services. HSBC employees more that 53,000 employees and strives to keep customers satisfied. HSBC banks also strives to make a number of different forms of insurance available to its customers including life insurance, disability insurance, unemployment insurance, accidental death insurance, term life insurance, and whole life insurance.

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Comments (3)
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3 Existing Comments
  1. Pat said:
    on May 23rd at 09:23 pm

    Be very careful dealing with HSBC! I just had a situation where I applied online for their three month 5.20% CD. It took about 9 days for the paperwork to go through and by the time the CD was funded, the bank had changed the rate to 2.80 % (without informing me ). When the CD was funded, it went to a 2.80 CD and not the 5.20 I had applied for. How a bank can change the rates halfway through the application process and not tell you is beyond me…. For me to cancel now, I have to pay a penalty. Customer Service says they’re sorry! Be careful!

  2. James said:
    on July 28th at 07:26 pm

    I’ve used HSBC since I was a child (over in the UK it was called the Midland Bank) so its interesting to see them over in the States. British banks have had a patchy record in the United States. They’ve always wanted to break into the American market and every fifteen years or so they get burned and scale back. From what I can see they are getting heavily into the sub prime market. Enjoy the ride.