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24/7 Wall St.: Banks Hiding the Most (and Least) Fees


Online Disclosures: 3 of 9
Information Available on Account Webpage: 2 of 9
Data Unavailable Online or at Branch: 4 of 9
Revenue: $94.80 billion (Entire HSBC)

Getting checking account information from HSBC (NYSE: HBC) is incredibly difficult. While all other banks have most or all of the information available online or at a branch, four of the nine disclosures are not available for customers at HSBC. Even the minimum amount required to open an account is nowhere to be found. “We don’t know if that means (the bank) doesn’t charge these fees or not,” Weinstock said. “But if they are free, let’s put that out there.” Two of the remaining five disclosures require a trip to the local branch, which is problematic because the London-based bank cut back on the number of branches in the United States last year.

HSBC’s U.S. operations are only a modest part of the parent corporation. Its largest divisions are in Mexico, Hong Kong and Europe. The company’s corporate financial operations do business with large global companies and governments. HSBC has among the largest bond and equity trading operations in the world. (AP Photo/Alastair Grant)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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