HSBC Bank USA today announced the launch of the HSBC Hybrid Checking Account, a new product designed to maximize a company’s returns by combining an Earnings Credit Rate (ECR) with credit interest, thus earning interest on every dollar deposited into the account.

Unlike traditional ECR accounts where unused credits are forfeited, the new HSBC Hybrid Checking Account ensures that businesses benefit from both earnings credit and credit interest on remaining balances. By setting a threshold amount clients target their balance for the earning credit calculation. Any excess earnings credit, are credited back to the clients’ account. Cash balances above the ECR threshold earn traditional credit interest.

“Every organization has complex needs, and the HSBC Hybrid Checking Account provides an important solution to our clients by both offsetting service fees and growing account balances at the same time,” said Thomas Halpin, HSBC North America Head of Global Payments Solutions. “This flexible interest-bearing account maximizes yield, lowers cost, and most importantly, saves time and effort by reducing the need for multiple accounts.”

About HSBC

HSBC Holdings plc

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of US$3,001bn at 31 March 2024, HSBC is one of the world’s largest banking and financial services organisations.

HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through Wealth and Personal Banking, Commercial Banking, Private Banking, Global Banking, and Markets and Securities Services. Deposit products are offered by HSBC Bank USA, N.A., Member FDIC. It operates wealth centers in: California; Washington, D.C.; Florida; New Jersey; New York; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc.

For more information, visit: HSBC in the USA

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