• Last Updated:
  • Feb 12th, 2019 11:13 am
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Member
Jun 27, 2010
421 posts
95 upvotes
Mississauga
straysheepie wrote:
Jan 16th, 2019 3:04 am
No, the new option of $6,500/month income + $100k combined HSBC/Canadian bank assets.

Discretion is including rental income in addition to payroll.
Wow....seems you got the upgrade based on we all thought the conditions should be.

1. Income - based on different sources , deposited at HSBC - My RM said there are some restrictions on income, without going into details.
2. Assets does not have to be exclusively at HSBC, contrary on what my RM said.

Did your RM say how do they verfiy the 100k assets? One-time or yearly validation?
Sr. Member
User avatar
Sep 15, 2015
529 posts
429 upvotes
Abbotsford
From the Jade website:
Important Information about the HSBC Jade World Elite Mastercard
To apply for an HSBC Jade World Elite Mastercard, you must:

1.Be an HSBC Premier* customer. For full details regarding eligibility for HSBC Premier and any fees which may apply, please refer to the Personal Service Charges/Statement of Disclosure available at any HSBC Bank Canada branch or online at www.hsbc.ca.
2.Be an HSBC Jade client**. For full details regarding eligibility, please refer to the terms and conditions for HSBC Jade available online at hsbc.ca/jadeterms.
3.Have a minimum annual gross personal income of $80,000 or a minimum annual gross household income of $150,000
4.Be a permanent Canadian resident and have reached the age of majority in your province/territory

I qualify for all apart from 2. Do you think it would fly?
Deal Addict
Jul 3, 2017
3542 posts
2408 upvotes
My elderly mom has an HSBC Premier account that she's used as her primary bank account for years, and she complained last week that they charged her a monthly fee for the first time, something like $39? Apparently she was transferring some GICs around, and she got caught by this new requirement to keep $100,000 in HSBC. Her balance was back over $100,000 before she got the statement with the fee, but now she's annoyed and wonders if she should move her banking business elsewhere.

I'm not sure she's getting any significant benefit from this account in return for the ridiculous balance requirement, but I'm not sure how to advise her on this.

She uses the HSBC account as her primary chequing account, but I'm sure she could easily get free chequing almost anywhere.
She uses an HSBC Mastercard, which is probably no-fee with the Premier account, but I'm not sure which one it is.
She doesn't use investment advice at all - she's always managed her own money and doesn't trust advisors.
In the past she had a good relationship with the local HSBC branch manager which was sometimes helpful, but you know how that goes: he's long gone and the subsequent replacements don't care.
She gets a UK pension deposit in pounds to an HSBC UKP account, which then gets converted to Cdn$ for her at a relatively poor rate. I don't know if she gets any Premier-related beneft like a fee waived in that process.

Is there some other possibly-significant benefit I'm missing?
Member
Mar 23, 2009
332 posts
105 upvotes
Toronto
Sounds like probably not worth it for her... Unless she keeps $100k there now and intends to keep it there, otherwise simplii or tangerine would probably work.
Jr. Member
Mar 7, 2008
126 posts
33 upvotes
Saskatchewan
HSBC is not for everyone.

I find depositing cash a issue as they lack atm.

Beside that, a lot of benefit. I find a typical short lineup a benefit lol.
Member
Mar 23, 2009
332 posts
105 upvotes
Toronto
You know you can deposit cash at exchange network atms too right? I do at alterna savings all the time because its close.
Jr. Member
Mar 7, 2008
126 posts
33 upvotes
Saskatchewan
astroboy100 wrote:
Jan 19th, 2019 11:51 am
You know you can deposit cash at exchange network atms too right? I do at alterna savings all the time because its close.
We don’t have a lot of exchange network in my town so only two atm in town that accept deposit... but that shouldn’t be a problem for bigger city like Toronto...
Jr. Member
Mar 7, 2008
126 posts
33 upvotes
Saskatchewan
Happy to confirm that Costco ATM (DC Bank) only charges $1 in fee. Another atm option for Premier user!

My local Conexus credit unit wants $3 per atm transaction. So that doesn’t work for me as premier only get $2 credit.
Jr. Member
Dec 3, 2003
199 posts
28 upvotes
Thanks for sharing! I tested the BMO ATM and they charge $3, so it would be great if people can share results from other banks so we know which ones will be cost-neutral.
Deal Addict
Oct 21, 2014
1055 posts
998 upvotes
Burlington, ON
Anyone know how long you have to keep your account open to get the bonus cash from HSBC for a new premier client?
Jr. Member
Mar 7, 2008
126 posts
33 upvotes
Saskatchewan
straysheepie wrote:
Feb 8th, 2019 12:08 pm
Thanks for sharing! I tested the BMO ATM and they charge $3, so it would be great if people can share results from other banks so we know which ones will be cost-neutral.
The big five will likely be charging more than $2....

Curious if the ATM at Superstore is within our $2 credit limit?
Member
User avatar
May 7, 2017
448 posts
189 upvotes
Question: Has anyone seen the new changes in fees? https://www.hsbc.ca/1/2/feechanges

All my accounts are premier chequing accounts and they are linked to one debit card. Which one is charged and which one would be free?
Last edited by bend3r on Feb 12th, 2019 11:12 am, edited 2 times in total.
Moderator
User avatar
Mar 23, 2004
37315 posts
3805 upvotes
Markham
bend3r wrote:
Feb 12th, 2019 11:06 am
Question: Has anyone seen the new changes in fees? https://www.hsbc.ca/1/2/feechanges

All my accounts are premier chequing accounts and they are linked to one debit card. Which one is charged and which one would be free? lol
Good thing that most of those doesnt affect Premier lol
「もし、奇跡を起こせたら……」
Member
User avatar
May 7, 2017
448 posts
189 upvotes
angel_wing0 wrote:
Feb 12th, 2019 11:09 am
Good thing that most of those doesnt affect Premier lol
I think I need my morning coffee. The charges aren't making much sense to me.

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