Pros and Cons for HSBC and Chase

[Curlygrrl]

I will need to open an American bank account and it seems most of the students I have spoken with in my department have an account with either HSBC or Chase. When I ask for more information as to benefit of one or the other, they mention only of proximatey to campus. I turn to you on GradCafe to provide me with some insight whether pro or con regarding these two banks.

[GardeningGrad]

I will need to open an American bank account and it seems most of the students I have spoken with in my department have an account with either HSBC or Chase. When I ask for more information as to benefit of one or the other, they mention only of proximatey to campus. I turn to you on GradCafe to provide me with some insight whether pro or con regarding these two banks.

I'd suggest opening an account with ING or Ally - both reputable, online-based banks. After your first year, you may find it's more convenient to open a local bank that has a good reputation or a good deal for students. See for other options.

[qbtacoma]

I would stay far, far away from Wells Fargo, which has in my experience often tried to pull a bunch of stunts by covertly adding bizarre fees or other bad behavior. If you qualify for a local credit union that might be a good option, simply because credit unions tend to be less unethical in their business than other banks. ING has a great reputation; I'm probably going to get HSBC myself when I move to grad school.

[Eigen]

I've had Chase for like 15 years now, and have been consistently satisfied.