HSBC Direct Savings Interest Class Action Settlement
By the Class Action Buddy Editorial Team · Last reviewed July 22, 2026
Looking for a settlement you can still file?
This one is closed, but our 60-second eligibility quiz finds the ones that are still open.
Who Was Eligible?
Who the settlement covered:
- You held an HSBC Direct Savings account during the relevant period covered by the lawsuit (exact dates to be confirmed on the official claim site)
- You believe you received less interest than HSBC advertised or promised on your Direct Savings account
- You are a U.S. resident who was a customer of HSBC Direct Savings during the covered time frame
- You have not previously released your claims against HSBC related to this issue
How Much Did It Pay?
The total settlement fund is $495,000, which will be divided among all eligible claimants who file valid claims. Every approved claimant is guaranteed a minimum payment of $10, regardless of how many people participate. Your individual payout may be higher if your account was significantly affected — the more interest you were allegedly underpaid, the larger your potential share of the fund. Keep in mind that the final per-person amount will depend on how many claims are submitted. If fewer people file, individual payouts may increase. Payments will be distributed after the court gives final approval to the settlement and all claims are processed.How this claim was filed
This settlement is closed, so the steps below are kept for reference only — they no longer lead anywhere you can file.
- Confirm you had an HSBC Direct Savings account during the covered period
- Gather proof of your account, such as bank statements, account confirmation emails, or other documents showing you held an HSBC Direct Savings account and the interest rates applied
- Visit the official settlement website (linked via the source URL) to access the claim form
- Fill out the claim form with your account details and contact information
- Submit your supporting documentation along with your completed claim form
- Make sure your claim is submitted before the August 20, 2026 deadline
Looking for something you can still claim?
This one has closed, but the open settlements list is kept current, and Class Action Buddy will tell you when a new one matches your profile.
Frequently Asked Questions
What is the deadline to file a claim for the HSBC Direct Savings Interest Class Action Settlement?
The deadline to file a claim was Aug 20, 2026, and it has passed. Claims are no longer accepted for this settlement.
Did I need documentation for the HSBC Direct Savings Interest Class Action Settlement?
Yes — this settlement required supporting documentation, and the official claim form set out what counted.
What is the HSBC Direct Savings interest class action settlement about?
The lawsuit, Cheng v. HSBC, claims that HSBC did not pay customers the full interest rates they were entitled to on their Direct Savings accounts. HSBC agreed to a $495,000 settlement fund to resolve the case. No wrongdoing has been admitted.
How much money will I get from the HSBC Direct Savings settlement?
Every eligible claimant who files a valid claim is guaranteed at least $10. Your actual payout could be higher depending on how much interest you were allegedly underpaid and how many total claims are submitted from the $495,000 fund.
What proof do I need to file a claim for the HSBC Direct Savings settlement?
Yes, proof is required. You'll likely need to provide documentation showing you held an HSBC Direct Savings account during the covered period — such as bank statements, account opening emails, or interest rate disclosures. Check the official settlement website for the exact documentation requirements.
Primary source: the official settlement administrator’s website named in the court-approved class notice. We track this settlement from public settlement-notice sources; a single official administrator claim URL was not on file, so confirm the details on the official settlement website before you file.
Class Action Buddy is an independent directory and is not affiliated with, endorsed by, or sponsored by the settlement administrator or the court. This page is general information, not legal advice. See how we verify settlements.
This settlement has closed
The filing deadline for this one has passed, so no new claims are being accepted. Class Action Buddy tracks the settlements that are still open and tells you when a new one matches your profile.
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