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Doug, I was thinking about taking advantage of 500$ promo too. The RM mentioned HUB base number too. I was told there is a client closed all accounts in 1997 but still has base in the systems so no bonus.
Last edited by angel_wing0 on Nov 9th, 2017 12:17 pm, edited 1 time in total.
Reason: Remove long quote
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dmehus wrote:
Nov 8th, 2017 8:55 pm
- no bank-to-bank transfers (hate that they eliminated this, now we'd have to either use bank-to-bank transfers from the other end and/or HSBC cheques, which are free for Seniors, Advance and Premier)
HSBC actually has free EMTs starting Nov 20th.
「もし、奇跡を起こせたら……」
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s33n wrote:
Nov 9th, 2017 1:32 am
Thanks for all this info Doug. I'm confused by the above; do you only have to maintain the $100k balance for one year? If so, does this apply to InvestDirect balances as well?

Thx!
No problem. I think you could also probably qualify by paying $34.95 per month but that would defeat the purpose of the free $500 welcome bonus, no? It might also prompt scrutiny by the HSBC Safeguard team, too, I'm not sure.

Generally, though, the $500,000 in HSBC InvestDirect assets referred to another way to qualify for HSBC InvestDirect's preferred pricing offered to HSBC Premier customers. All trades are now $6.88, even for personal/retail clients, so perhaps this is a sea change with former RBWM head Betty Miao moving elsewhere and them bringing in former CIBC southeast Ontario DVP/PC Financial direct banking divison head Larry Tomei heading up RBWM. I think they've also realized, surprise surprise, pissing off your customers by "exiting them" (HSBC's team used to be called HSBC Demarketing when I was there, but I suspect HSBC Safeguard played better with focus groups but, essentially, they played the same role in terms of enhanced customer due diligence), selling off key driving businesses that brought in thousands of new Premier clients each year (even if it as a cost due to the payments required to their commission-based brokers), etc., they've sunk themselves into a deep hole and now they're trying to dig themselves out whilst still closing branches.

That's why, I maintain if they want to show their serious at rebuilding customers' trust and don't want the expense of a massive branch build (they've already renovated most of their existing branches), they should re-introduce non-face-to-face account opening through a direct banking branch, like they pioneered with HSBC Direct.
angel_wing0 wrote:
Nov 9th, 2017 12:24 pm
HSBC actually has free EMTs starting Nov 20th.
I mentioned that in my post. The problem with free Interac e-Transfers is the low daily and weekly limits. Why not keep bank-to-bank transfers as well? When I was at HSBC, I signed up so many clients who literally came in once or twice a month to deposit money to their HSBC account that they used for a line of credit only and this way they were able to do this from home.
iceage wrote:
Nov 9th, 2017 12:17 pm
Doug, I was thinking about taking advantage of 500$ promo too. The RM mentioned HUB base number too. I was told there is a client closed all accounts in 1997 but still has base in the systems so no bonus.
Check and see if your old accounts were closed with a line of credit limit attached - I was told by other staff members when I worked there that the HUB base numbers don't fall off the system in that event. They stay on there in perpetuity. The correct procedure was front line staff were either supposed to refer to a Premium Banker (if available) or Premier Officer (if the branch had one; this is a rare position in most branches now and is equivalent in salary scale to a Premium Banker but it does not have sales targets as it is a sales support role) or, as was often the case in small branches, do the line of credit maintenance ourselves and delete the limit first, which required a supervisor/manager's "H21 approval" from their terminal. "H21" is one of those HUB shortcut codes we were expected to memorize.

Also, I was told by the HSBC call centre that you can now open a new account under a different HUB base number and/or branch so, as long as they don't code your "reason for coming to HSBC" as "existing customer," you should be eligible. You just have to make sure the new RM and/or branch opens you up a relationship under a different HUB base number and use something like "customer referred" or "promotional campaign" or something like that. If they don't, then end the appointment and walk out.

Cheers,
Doug
Last edited by dmehus on Nov 9th, 2017 12:24 pm, edited 2 times in total.
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dmehus wrote:
Nov 9th, 2017 12:24 pm
I mentioned that in my post. The problem with free Interac e-Transfers is the low daily and weekly limits.
i dont transfer huge amounts daily, so EMT is actually perfect for me.
「もし、奇跡を起こせたら……」
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angel_wing0 wrote:
Nov 9th, 2017 12:32 pm
i dont transfer huge amounts daily, so EMT is actually perfect for me.
Fair but can you still set up scheduled e-mail money transfers when it's to yourself?

Cheers,
Doug

P.S. Thank you for consolidating my multiple replies into one - that's much appreciated. A big job, not many forums do this because of the volume of work required but it makes sense. I didn't do it because I'm used to phpBB telling me "no more than one quote per post" often and also I'd have to copy+paste from multiple posts, unless there's an easy way to reply with multiple quotes? :)
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That's very encouraging news. She entered my name in the systems but couldn't find anything. she said without sin#, still not 100% sure.
dmehus wrote:
Nov 9th, 2017 12:24 pm
Check and see if your old accounts were closed with a line of credit limit attached - I was told by other staff members when I worked there that the HUB base numbers don't fall off the system in that event. They stay on there in perpetuity.

Also, I was told by the HSBC call centre that you can now open a new account under a different HUB base number and/or branch so, as long as they don't code your "reason for coming to HSBC" as "existing customer," you should be eligible. You just have to make sure the new RM and/or branch opens you up a relationship under a different HUB base number and use something like "customer referred" or "promotional campaign" or something like that. If they don't, then end the appointment and walk out.

Cheers,
Doug
Last edited by iceage on Nov 9th, 2017 12:45 pm, edited 1 time in total.
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iceage wrote:
Nov 9th, 2017 12:45 pm
That's very encouraging news. She entered my name in the systems but couldn't find anything. she said without sin#, still not 100% sure.
Can you fix the beginning part of the quote? Looks like it was deleted accidentally. :)

Yes, have her also search by last name only and look through the list of customers to see if there's one with your first name. This won't work if you have a common last name like Smith as, I believe, only one page of results is listed. What happens when she plunks in your old HUB base number? Does it bring up an empty profile screen with no accounts listed that shows your name, does it return no results or does it bring up an empty screen with no name listed anywhere? If one of the latter two, that means you're out of the system. The last one likely means you've been purged but they haven't yet recycled your HUB base number for a new customer yet.

Cheers,
Doug
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Sorry i don't know how to fix the beginning part of the quote.

Though my name is very common, I was told my name is not in the systems. I closed my account and credit card like 15 years ago.

They were also promoting jade. But the enhancements seem to be same as what Amex platinum offers. Do you have any insight on it?
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wyho007 wrote:
Nov 9th, 2017 11:53 am
Which bank(s) have you moved to? I want to leave too but can't find any good comparable alternatives in terms of interest rates, fees as offered to premier.
Moved to TD all-inclusive account.
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angel_wing0 wrote:
Jul 22nd, 2017 12:10 pm
I just had an "amazing" experience at the Peachtree Center branch, their ORA Specialist person sure showed who is "boss"! With amazing services like this, I can see why HSBC keeps going down hill. I have never encountered such amazing "services" in the Big 5 banks (and I am only a normal account holder). Surely made my Sat "much better". I better damn make sure that the Branch Manager knows about the level of amazing service he has provided...

...what a ****. (angry emoji not showing correctly :facepalm: )
Was that your experience, angel_wing, or were you quoting someone? Also, am I correct in sensing sarcasm?

ORA Specialists, essentially, are the former Supervisor Customer Service (GCB 6) and Customer Service Specialist (GCB 7) role merged into a combined GCB 7 level role. I was offered this position at its Orchard Plaza branch in Kelowna, a position I sought for years, but declined due mainly to the "dysfunctionality" of that branch and knowing I wouldn't enjoy it. Starting salary is $35,000 per year, versus $45,000 when it was a GCB 6 level. It no longer has any direct reports but provides, effectively, day-to-day supervision of Personal Bankers and also assists the Assistant Manager ORA with any tasks delegated. They can often have a tendency to be on a "power trip," if I'm sensing sarcasm correctly. :)

Another position within the ORA job pillar (there are Sales & Service, Relationship Management and Operations Risk and Administration job pillars/career tracks in branches) are: ORA Associates, which are equivalent to Personal Bankers in job grade and pay scale and don't have sales targets but are more of a loan administration clerk. They're also often an assistant to the Premium Banker team in branches that have them and may serve as backups for the Personal Bankers after the ORA Specialist and/or Branch Manager/Assistant Manager ORA. Within Relationship Management, you have Premier Relationship Managers, Sr. PRMs and Premier Officers. Large branches may also have a team leader that is the Premier Sales & Service Manager. Within Sales & Service, you have the Branch Manager, an Assistant Manager Sales & Service (in really large branches only), Premium Bankers and Personal Bankers. They've also since added a Sr. Premium Banker position since I left HSBC. The contact centre also has a Premium Support Officer within the ORA job pillar that's like a Premier Officer for Premium Bankers in the contact centre.
iceage wrote:
Nov 9th, 2017 12:57 pm
Sorry i don't know how to fix the beginning part of the quote.

Though my name is very common, I was told my name is not in the systems. I closed my account and credit card like 15 years ago.

They were also promoting jade. But the enhancements seem to be same as what Amex platinum offers. Do you have any insight on it?
Jade is their branding for high net worth Premier customers with more than $1MM in assets, right?

What do you mean by Amex platinum offers and "enhancements"?

Cheers,
Doug

P.S. I manually added this second quote. How do you do multi-quotes and did my merged posts result in my what do you call it..."warning system" go up or no? How do I check that?
Last edited by dmehus on Nov 9th, 2017 1:12 pm, edited 1 time in total.
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That's what I did too. The best part is they never hold my cheques. But td direct invest has no tiers on trading commissions.
Ramy wrote:
Nov 9th, 2017 12:58 pm
Moved to TD all-inclusive account.
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I think the benefits are mainly on the travel side? I don't think they can beat FHR hotel program and the airline program is about the airliner which has no routes to western Canada?

dmehus wrote:
Nov 9th, 2017 1:12 pm

Jade is their branding for high net worth Premier customers with more than $1MM in assets, right?

What do you mean by Amex platinum offers and "enhancements"?

Cheers,
Doug

P.S. I manually added this second quote. How do you do multi-quotes and did my merged posts result in my what do you call it..."warning system" go up or no? How do I check that?
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Oh yeah, I guess, if you like their travel rewards credit card and I think, no FX commissions. To me, the HSBC MasterCard was never a winner for me. 1% rewards on an HSBC Advance MasterCard for staff (staff don't get automatic Premier benefits unless they're a PO, PRM, BM or higher; otherwise they get automatic Advance benefits) so I never opened one. LOL

Cheers,
Doug
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dmehus wrote:
Nov 9th, 2017 1:12 pm
Was that your experience, angel_wing, or were you quoting someone? Also, am I correct in sensing sarcasm?

Cheers,
Doug

P.S. I manually added this second quote. How do you do multi-quotes and did my merged posts result in my what do you call it..."warning system" go up or no? How do I check that?
It was my personal experience, and yes, lots of sacasm.

To do multi-quotes, u press the "+ button of the posts you want to quote, then press "reply with quote.

No you didn't get any infractions for doing that.
「もし、奇跡を起こせたら……」
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dmehus wrote:
Nov 9th, 2017 12:14 pm
They have 2 in Kelowna, 1 in Westbank/West Kelowna (where I worked, which saw its FTE reduced from 7.5 to effectively 3 [technically, 3.5 but that extra 0.5 was a shared complement with one of the Kelowna branches for the FT BM that now managed 2 branches]) as well as 1 in each of Penticton, Prince George, Vernon and Kamloops. Cranbrook was one of the branches they closed in January or February of this year and that's why I maintain that Westbank/West Kelowna branch will still close when its 10-year lease is up in 2019 because it is only 13 minutes drive from the downtown Kelowna branch and there is a First West Credit Union ATM on the Exchange network a block up the road.



I think that's correct that if you choose to pay the $34.95 monthly fee for the duration of the 12 months, you'd still qualify for the offer but you'd basically be "giving up" at least half to nearly all of the $500 welcome bonus so there's no point in that.

As for "in good standing," I think that generally means just meeting either the Premier TRB or monthly fee criteria and potentially also not in arrears on any mortgage or line of credit payment. Well, maybe R2 would be fine but nothing worse than R2, basically.

If their HSBC Safeguard team decides to terminate the relationship prior to 12 months, though, can you still keep the $500? The account was closed by them, not you, in this case. I lean to the "yes" slightly because that could provoke lawsuits and they'd also then have to disclose why they're closing your account; they'd probably rather it just be closed and not have to give a reason. What do you think?



Footnote: HUB = HSBC Universal Banking system. It's what they call their core banking platform, which they originally spent about $1 billion globally to redesign & rebuild a number of years ago from the ground up but then abandoned that project and instead of just been tinkering. It's still an ancient looking black & green screen that looks like an old DOS terminal or perhaps a Bloomberg terminal and requires the memorization of efficient shortcut codes to get into a different screen.

Cheers,
Doug
i wonder what kind of client base hsbc has in that part of canada?
not too many "traditional" customers there that i can see ...

( are you still in the area?)
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