HSBC Checking Account $75 Sign on Bonus
HSBC is offering a $75 bonus for opening an interest checking account with them. With the checking account, customers also get “free Personal Internet Banking and Bill Pay and an HSBC Debit MasterCard with PayPass.” The Terms & Conditions for this offer says
HSBC reserves the right to charge your checking account an amount equal to the bonus if your checking account does not remain open for at least 180 days. Limited to one (1) cash bonus per household. Offers expire April 10, 2007 and cannot be combined with any other offers.
What it says basically is you have to keep the account for at least 180 days in order to get the bonus; otherwise, the $75 will never get into your pocket. In addition, there are other conditions to earn interests with the checking account:
Interest Checking – Get all the advantages of an HSBC checking account, plus a competitive rate of return on your money! It’s free if you sign up for direct deposit. You can also upgrade to the Smart Package and link your Interest Checking with a Premium Money Market Savings Account.
If you don’t sign up for direct deposit and your monthly balance is below $3,000, then there will be a $8 monthly maintenance fee. And how much interests can you expect to earn from their interest checking? Almost nothing! What a Deal!

Update: This offer has expired. However, you can still get up to $100 bonus from other banks and brokers. Also be sure to check the latest online savings and checking account interest rates.
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Wow, HSBC is becoming more attractive! First the 6% interset rate on savings and now this.
It’s nice that they start to pay interest for checking account, but the problem is the interest rate is too low to attract any serious money. Besides, I don’t like they put a minimum balance requirement. But I guess that’s the way big banks do business.
If I already have an interest checking account some time ago, do you think I can apply another one to get this bonus? I don’t see any fine print that answers this question.
KY: I didn’t find any information about whether you can have two checking account with them either. To be safe, you probably want to give them a call and find out if a second account is eligible for the bonus. Or how difficult is it to close the account? If you have a savings account with them and no external links to your existing checking account, maybe you can just close the account and apply for a new one. However, you may still need to call them to see if they have any conditions regarding past customers.