This Settlement resolves a dispute with HSBC Bank USA, N.A. over whether HSBC failed to pay interest in accordance with Direct Savings Account terms for customers who initiated ACH transfers through HSBC’s web portal.
The parties have reached a proposed $495,000.00 Settlement. Attorneys for the class will seek fees of $164,999.99 (plus reimbursement of costs of $30,786.07) out of the proposed Settlement amount.
Your rights are affected whether you act or not. Read the Notice carefully.
Options | More information about each option |
Submit a Claim | You must submit a Claim Form to receive a payment. Submit online here or download a Claim Form here and mail by the deadline. If you are a current HSBC Direct Savings Account customer, you will receive a credit to your account. Otherwise, you may receive an electronic payment or check. |
Do Nothing | You will not receive any payment. If the Court approves the Settlement, you give up your right to bring your own lawsuit about the issues in this case. |
Opt Out | Exclude yourself from the Settlement. You will get no payment. This option allows you to bring another lawsuit against HSBC about the same issues raised in this lawsuit. |
Object | Tell the Court why you don’t like the Settlement or the request for attorneys’ fees and costs. If the Court approves the Settlement, you will still be bound by the terms and give up your right to bring your own lawsuit about the issues in this case. |
Go to a Hearing | Ask to speak in Court about the fairness of the Settlement. The hearing will be held at the United States District Court for the Eastern District of New York, 225 Cadman Plaza East, Brooklyn, NY 11201, Courtroom 10A South. |
Upcoming Important Dates
Notification Mailing
5/22/2026
Opt Out Deadline
7/21/2026
Objection Deadline
7/21/2026
Claim Deadline
8/20/2026
Final Approval Hearing
9/16/2026