STEP 1: The Process in simple words

Next you will find guidelines on how to get a bank account in HSCB. The sucess depends a lot on how you are qualified by the bank and it is not guranteed.

This is not a fast proccess and can take one or two months to complete depending on your actions.

You need to speack english very fluently as you will need to have direct contact with the bank by phone.

First you need to contact HSCB offices to their phone 1-800-975-HSCB (4722) or 1-888-404-4050

You need to ask for the bank account you need and they will send you the forms by email. You print them, fill them and send them by normal mail. They will review it and, if everthing is alright, they will open the account.

If you need help filling the forms you can contact 1-716-841-7542

On the mail you will get some letters. First the welcome letter with the account number. Then you will get two more. One with the details for phone banking and other with the debit card. Later on you will get a final one with the debit card password.

Key Information you Need to know.

Steps to open HSBC account:

1. The process in simple words
2. Choose account type
3. A US based mailing address
4. Local references
5. Set up your online banking service
6. Always tell the truth

STEP 2: Choose account type

There are two types of account, the Free and the Premier. You would find better to open the “Free”. The Premier charges a $50 fee every month. The “Free” doesn’t charge anything monthly.

The account is free as long as it as money moving on it. If the account becomes inactive then it will pass to a “Basic” model with a $3 monthly fee.

To qualify for HSBC Premier, you need to maintain $100,000 in combined personal deposit and investment balances or $500,000 in combined personal deposit, investment, and credit/mortgage balances. Business owners may use their commercial balances to qualify for personal Premier membership. A monthly maintenance fee of $100 will be incurred if minimum balance requirements are not maintained.

To speak to a Relationship Manager about becoming a Premier client, outside the U.S. call collect 1-716 841-6866.

Steps to open HSBC account:

1. The process in simple words
2. Choose account type
3. A US based mailing address
4. Local references
5. Set up your online banking service
6. Always tell the truth

STEP 3: A US based mailing address

Even when the bank will agree to open a US based account for a non-US resident, they will ask for a US based address to send your mails.

They normally open the Premier account when you don’t have a US based address. The solution is to hire a mailing address and use that to ask for the free account. You need to set that addres for the mails in the form W8-BEN you will need to fill.

You will also need an utility bill to certify the address. Now, as you will not be able to get that utillity bills with the mailing address service they will sent the documentation of the account to your local address (except the online banking password, more on that later)

Remember to check our resouce about US Address.

Steps to open HSBC account:

1. The process in simple words
2. Choose account type
3. A US based mailing address
4. Local references
5. Set up your online banking service
6. Always tell the truth

STEP 4: Local References

The bank will ask you to send references in order to complain with the Patriot Act.

It’s very important to have a local bank reference letter. As to send screenshots of the local bank accounts you have. By doing this the bank is working according the Patriot Act, which demands that they should be making all the reasonable efforts to validate the customer origin.

If you don’t have a local bank account or credit cards, you better get it prior the procces fr opening the US bank account in HSCB.

Your local address needs to be validated with an utility bill. If this documents don’t have your name on it or if the address is not exact you need to fix that. If it’s a rented place you need to send a signed contract that can certified your address.

Steps to open HSBC account:

1. The process in simple words
2. Choose account type
3. A US based mailing address
4. Local references
5. Set up your online banking service
6. Always tell the truth