HSBC promo (upto $600 for new clients, requires mimimum $5,000 balance, direct deposit, credit card application/rewards)
Edit - no direct confirmation from mods but speculation is the previous thread was closed due to referral requests. As such, PLEASE AVOID ASKING FOR REFERRALS IN THE THREAD
Summary of Promo - HSBC is offering $300 to new clients who open Advance accounts, make a minimum deposit ($5,000 minimum if opening advance chequing account) AND register for online banking. The nice thing with HSBC is that clients are NOT required to maintain the $5,000 in their chequing account like many other banks stipulate, rather as long as you maintain the minimum $5,000 across ANY account with HSBC, the fees for the advance account are waived. If you open your account at a branch, ask about interest rates for their TFSA accounts. From my experience (as well as other RFDers), branch representatives can offer better interest rates compared to posted rates. I was offered a 6 month TFSA GIC at 2.25% and 15 month TFSA 2.5% GIC. Not the most lucrative interest rate out there but better than the $$ sitting in chequing not earning anything.
Keep in mind that the terms and conditions of the promo indicate that the $300 will be paid out after 3 months and that clients are required to keep the account open for a minimum of a year AFTER the $300 is paid out. As a result, the 15 month TFSA GIC might make sense to some since you will need to maintain the $5,000 balance in the account for roughly 15 month anyway. Personally, I took a chance and went with the 6 month GIC since interest rates are expected to rise and 6 months brings us to around the RRSP contribution deadline which is conventionally a time when FI's offer promotional interest rates.
To sweeten the deal -
1. There is a $100 referral bonus for both the existing (referring client) as well as the new client being referred. The referral bonus is quite generous but the way the referral process works is quite old school where the new client signing up has to have the existing client fill out their info on a form and the new client has to print the form and bring it with them at the time of opening the account. Here are the details and link to the form that needs to be completed/printed and presented at the time the new client opens their account
https://www.hsbc.ca/1/2/personal/specia ... ep-program
As stated above, PLEASE AVOID ASKING FOR REFERRALS IN THE THREAD as there is speculation that the previous extensive thread on RFD on this promo was closed due to RFDers requesting referrals.
2. $100 for setting up a recurring direct deposit within 3 months of opening the account - there was some discussion in the previous thread that any government related deposits (child benefits etc) do not count although I am not aware of if this was speculation or reported through experience.
3. 20k rewards sign up bonus + 10k rewards when you spend $1,000 within 3 months on the HSBC world elite mastercard (first year annual fee waived). Works out to around $100 in rewards value. There is a seperate thread on RFD discussing the credit card here https://forums.redflagdeals.com/hsbc-wo ... s-2211503/
Bank Offer details - https://www.hsbc.ca/1/2/personal/canadi ... QTT0000334
OFFER ENDS Nov 30, 2018 (as of posting on Sept 28)