HSBC Launches New Small Business Checking Products

NEW YORK – HSBC Bank USA, N.A. today announced the launch of a new program, BusinessSmart(SM), designed exclusively for its small business customers. BusinessSmart will offer small businesses an enhanced range of products and services as well as greater access to the bank’s small business expertise through two offerings, Free Business Checking and ExtraVantage for Business. HSBC has also established a dedicated toll-free small business service line, which will be available to customers, 24-hours a day, seven days a week.

“In talking with small business owners about their financial needs, the two priorities that consistently came up, regardless of the type of business, were value and service,” said Sterling Kozlowski, senior vice president and small business strategist, HSBC Bank USA, N.A. “The business owners who feel that value is a priority want to keep transaction costs to a minimum while still having a full range of core banking services. Other customers are more focused on having a higher level of service, often because their needs are more complex. BusinessSmart addresses both these needs and offers an unparalleled range of products and services.”

Free Business Checking is designed for value-conscious small businesses and has no minimum balance. This program will include free online banking, including free Bill Pay, and a MasterCard BusinessCard® at a special introductory rate.

ExtraVantage for Business is designed for small businesses that need a higher level of service than traditional small business bank offerings. The centerpiece of the program is a small business specialist who will serve as the customer’s primary point of contact. It will also include free online Bill Pay and a revolving line of credit account at a special introductory rate. ExtraVantage is available for companies that have a $25,000 combined deposit relationship with HSBC or to any small business for a $25.00 per month fee.

“The small business specialist is what makes ExtraVantage for Business so unique,” noted Kozlowski. “Because the specialists will be working out of the branches, they’ll be a hands-on resource for our customers.”

Over the past few years, HSBC has become an important resource for small businesses and a leading source of SBA loans in several states. In recognition of its success, the bank received several awards from SBA district 4, including a special achievement award for 2003.

About HSBC Bank USA, National Association
HSBC Bank USA, N.A. has nearly 400 branches in New York State, as well as 11 branches in Florida, six in California and one branch each in Delaware, Pennsylvania, Washington and Oregon. It is the principal subsidiary of HSBC USA Inc, an indirectly-held, wholly-owned subsidiary of HSBC North America Holdings Inc., one of the nation’s ten largest bank holding companies by assets.

The HSBC Group, headquartered in London, has over 10,000 offices in 76 countries and territories and is one of the world’s largest banking and financial services organizations. For more information about HSBC Bank USA and its products and services visit www.us.hsbc.com.