Personal Finance

HSBC Premier+Jade/PCS Thread

  • Last Updated:
  • Mar 29th, 2024 4:53 am
Tags:
None
Jr. Member
May 31, 2018
119 posts
136 upvotes
Calgary
cmchiu wrote: Kinda off topic but just wondering -- have you considered asking TD to journal your Agnico Eagle shares from TSE to the NYSE version, just like a Norbert's Gambit? Basically move it to the USD-side of your account, so USD dividends stay in USD.
I can ask HSBC about that and finally get something going on in my USD InvestDirect account Smiling Face With Open Mouth - I bought the shares a while ago back when board lot trading was essentially the only way to go. Now that that has effectively gone by the wayside (especially with the emergence of fractional share trading) I shouldn't fuss about breaking up a board lot of TSX listed shares in exchange for what will almost certainly be an "odd lot" of NYSE listed shares.
Member
Jul 30, 2016
228 posts
316 upvotes
Thanks everyone! Then maybe I should hold Canadian securities in TFSA and US securities in a non-registered account.

Another question is, if I get a HSBC Canada credit card before I leave and not use it for a while, are they going to cancel it due to inactivity?
Deal Addict
Jul 26, 2018
1804 posts
2843 upvotes
Canada, eh?
It was a good run reaping all the Premier benefits lol but now I’m moving down south so in the process of cancelling my entire HSBC portfolio.
Deal Expert
User avatar
Dec 11, 2005
20136 posts
2964 upvotes
angel_wing0 wrote: Have to say that's terrible. Has that always been the case or just a recent thing?
It's been like this forever, at least as long as I have been there. HSBC has no US denominated registered accounts.

To be fair, most Canadian brokerages don't, it is still fairly rare.

Questrade has it, ScotiaBank has it, RBC has it, but I am honestly not sure of any others off the top of my head, those may be the only 3. I know TD and BMO and WealthSimple don't have it for certain.
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
Deal Fanatic
User avatar
Feb 1, 2006
6494 posts
2490 upvotes
Ontario
brunes wrote: It's been like this forever, at least as long as I have been there. HSBC has no US denominated registered accounts.

To be fair, most Canadian brokerages don't, it is still fairly rare.

Questrade has it, ScotiaBank has it, RBC has it, but I am honestly not sure of any others off the top of my head, those may be the only 3. I know TD and BMO and WealthSimple don't have it for certain.
IB also has USD RRSP & TFSA.
Cards:HSBC WE MC 1.5%/3% travel 0 FX MC acceptance 31 day med AF $49
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay, AF $0
MBNA RWE 5.4% grocery/resto
Bank: EQ (1.5%)
Deal Addict
Mar 30, 2009
1513 posts
1214 upvotes
gainsbarre wrote: I can ask HSBC about that and finally get something going on in my USD InvestDirect account Smiling Face With Open Mouth - I bought the shares a while ago back when board lot trading was essentially the only way to go. Now that that has effectively gone by the wayside (especially with the emergence of fractional share trading) I shouldn't fuss about breaking up a board lot of TSX listed shares in exchange for what will almost certainly be an "odd lot" of NYSE listed shares.
You bought the shares "a while ago"? I haven't heard of anyone raising board lot trading for decades!
Deal Addict
Oct 4, 2009
3590 posts
2953 upvotes
Montreal
brunes wrote: It's been like this forever, at least as long as I have been there. HSBC has no US denominated registered accounts.

To be fair, most Canadian brokerages don't, it is still fairly rare.

Questrade has it, ScotiaBank has it, RBC has it, but I am honestly not sure of any others off the top of my head, those may be the only 3. I know TD and BMO and WealthSimple don't have it for certain.
Did you just awake from a decade long coma?Face With Tears Of Joy

TD and BMO have had USD registered accounts for years as do the vast majority of Canadian brokers. Those that don’t are very much the exception these days.

Edited to add 2011 link to BMO announcement and 2014 link to TD’s announcement. https://www.financialwisdomforum.org/fo ... 29#p439929
https://www.financialwisdomforum.org/fo ... 01#p534501
Wealthsimple Premium
Sr. Member
Aug 27, 2013
782 posts
538 upvotes
cloud
bij0520 wrote: Another question is, if I get a HSBC Canada credit card before I leave and not use it for a while, are they going to cancel it due to inactivity?
The Canadian Premier WE MasterCard has no foreign exchange fee, while many (most?) Hong Kong credit cards do. So if you were use it every few months, especially when you travel out of HK, just to keep it active, it shouldn't be too much of a pain.
Deal Addict
Oct 4, 2009
3590 posts
2953 upvotes
Montreal
Will HSBC even allow him to keep the CC as a non resident? Most financial institutions will close your CC as soon as you become NR.
Wealthsimple Premium
Moderator
User avatar
Mar 23, 2004
47728 posts
13898 upvotes
Markham
brunes wrote: It's been like this forever, at least as long as I have been there. HSBC has no US denominated registered accounts.

To be fair, most Canadian brokerages don't, it is still fairly rare.

Questrade has it, ScotiaBank has it, RBC has it, but I am honestly not sure of any others off the top of my head, those may be the only 3. I know TD and BMO and WealthSimple don't have it for certain.
Well, so much for being an international bank. Maybe it has something to do with US sanctions? :lol:

TD has it for sure, since I already have DI. CIBC IE also has it.
Sr. Member
Aug 27, 2013
782 posts
538 upvotes
cloud
S5 wrote: Will HSBC even allow him to keep the CC as a non resident? Most financial institutions will close your CC as soon as you become NR.
Good question -- was thinking some of us have HSBC US MasterCards without being US residents. Not sure what the Canadian rule is.
Moderator
User avatar
Mar 23, 2004
47728 posts
13898 upvotes
Markham
cmchiu wrote: Good question -- was thinking some of us have HSBC US MasterCards without being US residents. Not sure what the Canadian rule is.
As long as you have Premier, dont think there will be an issue.
Deal Fanatic
Jan 21, 2018
9652 posts
10924 upvotes
Vancouver
It's really difficult sometimes to get an answer from HSBC. I've been trying to answer this for a week:

If I transfer money out of my Premier chequing account to an HSBC investment like Wealth Compass, it still counts as part of my "total relationship" with HSBC for the purpose of the $100K Premier minimum. But does that transfer out count as a negative to my "deposit accounts" (as stated in the 1.75% offer) that offsets any new money I transfer in to receive the 1.75% bonus interest on savings?

The phone agent waffled back and forth and then quoted the verbatim text of the 1.75% offer without attempting interpretation. Crickets on further inquires.

Maybe I have to do a small test transfer and then wait a month for the actual answer?
Deal Fanatic
Aug 31, 2010
7556 posts
6834 upvotes
Scote64 wrote: It's really difficult sometimes to get an answer from HSBC. I've been trying to answer this for a week:

If I transfer money out of my Premier chequing account to an HSBC investment like Wealth Compass, it still counts as part of my "total relationship" with HSBC for the purpose of the $100K Premier minimum. But does that transfer out count as a negative to my "deposit accounts" (as stated in the 1.75% offer) that offsets any new money I transfer in to receive the 1.75% bonus interest on savings?

The phone agent waffled back and forth and then quoted the verbatim text of the 1.75% offer without attempting interpretation. Crickets on further inquires.

Maybe I have to do a small test transfer and then wait a month for the actual answer?
Assuming it was in your chequing before COB September 10th: the transfer from your chequing is a negative against the 1.75% bonus, yes,
Deal Fanatic
Jan 21, 2018
9652 posts
10924 upvotes
Vancouver
hvc wrote: Assuming it was in your chequing before COB September 10th: the transfer from your chequing is a negative against the 1.75% bonus, yes,
Your guess, or got a definitive source?
Deal Fanatic
Aug 31, 2010
7556 posts
6834 upvotes
Scote64 wrote: Your guess, or got a definitive source?
..definitive source..being the T&C of the offer.. lol

https://www.hsbc.ca/content/dam/hsbc/ca ... -09-en.pdf

They took a snapshot of your total deposits (the total value in Canadian dollars of all your chequing, savings, guaranteed investment certificates (GICs) and term deposit accounts under the same Customer Account Number) COB September 10 and anything above that balance earns bonus interest during the promotion period.
Deal Fanatic
Jan 31, 2007
6371 posts
6733 upvotes
Center of Canada
Did anyone heard rumor about re-branding the Jade all together?

I heard this from my RM but he don't know any details yet. All he know is there are change cooking in the background to re-brand Jade.
Hope is just name change and not changing benefit or make it harder to qualify, (e.g. make it 2Mil).
******************************************************
Bright side of RFD: Often find good deal
Dark side of RFD: Tons of stuff that I don't need but still got them because of RFD
******************************************************
Member
Jul 30, 2016
228 posts
316 upvotes
Had a bad experience at CIBC todayCrying Face my story My question is, does HSBC help customers verify bank draft before they deposit? If so, I'm going to switch to HSBC now instead of end of next year.

Top

Thread Information

There are currently 3 users viewing this thread. (0 members and 3 guests)