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Rates and Account Review
Posted June 26, 2008
The Online Payment Account is the companion account to HSBC's Online Savings account. It's the account HSBC customers can use when they need to pay bills and other expenses.
Minimum Deposit
$1 | Monthly Fee
None | Minimum Balance
None | Check Writing
Electronic |
The Online Payment Account is the companion account to HSBC's Online Savings account. It's the account HSBC customers can use to pay bills and other expenses.
The account is essentially a checking account, but payments are conducted electronically. Customers do not get a checkbook to write checks.
The major benefit that the Online Payment Account offers is that transfers to and from the Online Savings account takes seconds. This eliminates the three to four day lag time that it would take when transferring to an external checking account.
An ATM card is available to get instant access to cash. A single card can be used for ATM and Debit transactions from both the Online Payment Account and the Online Savings Account. The card can be used at non-HSBC ATMs anywhere in the U.S.. HSBC will reimburse customers for the first 3 ATM surcharge/convenience fees each month.
The Online Payment Account does not have a minimum balance requirement or monthly fee.
Online Savings Account
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