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  • Dec 5th, 2018 5:26 pm
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bend3r wrote:
Sep 5th, 2018 12:51 pm
I got a pre-approval for a Prime + 1.9% LOC.


1. Do you guys recommend taking it?
2. Also wanted to ask if even after pre-approval, does HSBC do a hard pull on credit report?
#1. if you need it, then go for it ...

#2. it depends on whether they need further confirmation ... 2+ yrs ago, i got similar offer, but i called to ask this exact same question, the rep said yes, and in addition, they want income info ...
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VH99 wrote:
Sep 5th, 2018 1:08 pm
#1. if you need it, then go for it ...

#2. it depends on whether they need further confirmation ... 2+ yrs ago, i got similar offer, but i called to ask this exact same question, the rep said yes, and in addition, they want income info ...
Cool, I'll call and ask. I don't really need it. But I thought it'd be great if they don't do a hard pull and I can increase my credit limits.
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got the same offer for prime + 1.9%.

Called to ask about it and they said the pre approval is for amount and rate, they still have to do a hard check to ok the line of credit.

It this a good rate for a ULoC? ie worth the hard pull.
If you did not switch to the $60 10GB plan when everyone else did you are not a true RFD'er 😝
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fuzzydealhunter wrote:
Sep 5th, 2018 5:26 pm
got the same offer for prime + 1.9%.

Called to ask about it and they said the pre approval is for amount and rate, they still have to do a hard check to ok the line of credit.

It this a good rate for a ULoC? ie worth the hard pull.
It is a good rate ... I got the same rate at TD ... :)
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has anyone with foreign account with hsbc received a letter containing a self certification form asking for additional personal information?
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fuzzydealhunter wrote:
Sep 5th, 2018 5:26 pm
got the same offer for prime + 1.9%.

Called to ask about it and they said the pre approval is for amount and rate, they still have to do a hard check to ok the line of credit.

It this a good rate for a ULoC? ie worth the hard pull.
Yes it's worth it.
「もし、奇跡を起こせたら……」
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VH99 wrote:
Sep 5th, 2018 5:47 pm
has anyone with foreign account with hsbc received a letter containing a self certification form asking for additional personal information?
Yep, I had it done last year. Also spoke with them recently and they told me that now if I ever want to update the information, it can be done online.

Your Canadian RM should be able to help out with it too.
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bend3r wrote:
Sep 6th, 2018 3:01 pm
Yep, I had it done last year. Also spoke with them recently and they told me that now if I ever want to update the information, it can be done online.

Your Canadian RM should be able to help out with it too.
do you know the link to the online ui for submitting the info ... ?

the letter says it is voluntary ... so i am not sure if it is a good idea to just ignore it ...
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VH99 wrote:
Sep 8th, 2018 12:42 pm
do you know the link to the online ui for submitting the info ... ?

the letter says it is voluntary ... so i am not sure if it is a good idea to just ignore it ...
It's not available for Canadian website, I just checked. I submitted it for overseas HSBC bank where it is available in the menu as Update Tax Residency details.

If you do not have any overseas accounts or assets , it should be alright. My overseas bank threatened to freeze my accounts lol. In the end the form + RM helped out. The letter is result of Common reporting standard so all banks that comply have to know the tax numbers and other residency details to report to authorities.

Here is a detailed link on self certification procedures for Canada https://www.canada.ca/en/revenue-agency ... c475109539

Canadian laws as I've found out are quite lax so if you ignore it, you should be fine too. Here the tax return matters more.
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s33n wrote:
Aug 19th, 2018 1:20 am
I am a fairly active trader on the InvestDirect site (among other trading platforms). I don't like the interface, but $6.88/trade is pretty competitive with other banks, so I can live with it on balance.

Free banking is excellent with ATM fee rebates when you withdraw from non-HSBC/credit union ATMs. I love the ability to move money instantly for free between countries; very handy for US and Asian transfers. I've had good RMs (when I've needed them) who have bent over backwards to make sure I'm happy. Overall, I think it was worth the switch and transfer of assets.
$6.88 is the normal pleb rate now for InvestDirect though. Premier clients don't get a discount anymore :(
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tradinghumble wrote:
Jun 19th, 2018 4:09 pm
HSBC premier client here... curious why do you bank with them other than having the ability to have accounts in other countries?
I don't use more services at HSBC than I used to at TD... however at HSBC I don't have to keep my $5000 parked in a non-interest-bearing chequing account to maintain my status, instead my relationship balance can be based on my Investments. TD never gave me any breaks at all despite my tons of cash I had with them in Investments, and I found that extremely annoying. That is the main reason I switched.

Another reason, at HSBC my cross-border transfers from the US are online, and *INSTANT*. At TD I used to have to call some idiot in a call center, and wait 12 hours for the money to show up. My understanding is this is somewhat improved now, but I still doubt it is as seamless and instant as HSBC Global Transfers are.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
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angel_wing0 wrote:
Sep 5th, 2018 10:57 pm
Yes it's worth it.
Ended up taking them up on the offer, rather have it and not need it than to need it and not have it.

They said once they get the signed docs back from me it should be roughly 3 weeks to finish the process.
If you did not switch to the $60 10GB plan when everyone else did you are not a true RFD'er 😝
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bend3r wrote:
Aug 18th, 2018 5:32 pm
Banking is free for most stuff. 5 chequing accounts included
Forex transfers can be instant if you got hsbc accounts in other countries
Forex transfer to banks other than hsbc can have reduced fees
No fx fee on debit card or WE credit card
If you move around a lot, HSBC can transfer your credit histories abroad
They also can help with international mortgages - for example buying a house in UK while you live in canada
And an RM that helps you manage things if needed - mine has been great. Others have had complaints.

Biggest benefit I find with hsbc is that they’re brick and mortar but pretty much everything I need to do including wire transfers can be done online. Last time I visited the bank was last September to open invest direct account.

Invest direct isn’t that good for self service clients. If you just buy and hold stuff - it could work for you. Over the phone they are pretty good however.
Is the no-fx fee on debit card available only for Premier accounts or is that an HSBC feature?

I have an Advance account and it said foreign cconversion fee "may" apply.
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EDL67134234 wrote:
Sep 8th, 2018 11:06 pm
Is the no-fx fee on debit card available only for Premier accounts or is that an HSBC feature?

I have an Advance account and it said foreign cconversion fee "may" apply.
It’s a premier debit card feature. You can still be charged atm fee however! I haven’t tried this myself but I am pretty sure if I withdraw overseas at HSBC atm, I won’t be changed atm fee either. That’s a standard feature of all premier debit cards issued all over the world.

Also you cannot use Canadian hsbc debit card for purchases abroad.

Someone compared and posted fx rates of debit card vs hsbc we credit card. It seemed that credit card had better spread by a tiny bit. You can probably look that up in credit card threads.
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May 11, 2018
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For anyone who’s upgraded an existing account to Jade, did your chequing/savings account numbers stay the same? I’d guess the MasterCard number would change, but not the bank accounts? Can anyone confirm?

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