Personal Finance

HSBC promo (upto $600 for new clients, requires mimimum $5,000 balance, direct deposit, credit card application/rewards)

  • Last Updated:
  • Dec 9th, 2018 2:23 am
Sr. Member
Dec 25, 2013
791 posts
531 upvotes
Toronto
I know you are only allowed to refer 10 people, anyone know if you being referred counts as one of the 10? I mean it's listed as the same in their computer. Both you being referred and your referral bonuses come in as "STEP BONUS".
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Jan 9, 2011
3252 posts
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Vancouver
projector wrote:
Nov 23rd, 2018 9:37 am
Correct. Locking that $5000 away in a TFSA GIC is the way to go. I went 15 months at 2.50% (15 instead of 12, because you need to keep the account open 12 months from when you get the $300 welcome bonus, which can take up to 3 months to arrive)

What do you mean you have to keep the account open for 12 months after you get the $300 bonus? What happens if you don't?
18% = GTA residents as a proportion of Canada's total population
97% = chance that an RFDer lives in the GTA when he posts something location specific, without giving a location

Were you hit with surprise customs/import fees on an Amazon.ca purchase?
Jr. Member
Aug 14, 2012
164 posts
90 upvotes
North Vancouver
Messerschmitt wrote:
Nov 24th, 2018 12:52 am
Also, my payroll didnt come in. Do i contact HSBC or my workplace?
Start with your workplace, assuming you don't see it in the previous bank account on direct deposit.

Workplace may have keyed it in wrong, but should have received an error message on transmission, unless it was a transposition error that still fit the valid field lengths. In the latter case it would likely be returned in a couple of days by HSBC with notification to your workplace, or HSBC will keep it and that's where the bank asks your workplace to put a trace on the payment.
[OP]
Jr. Member
Jun 1, 2015
155 posts
54 upvotes
Calgary, AB
Messerschmitt wrote:
Nov 24th, 2018 12:52 am
Received the 300 bonus but my referrals did not who opened it pretty much same time.

Also, my payroll didnt come in. Do i contact HSBC or my workplace?
Did your payroll get deposited into the account you had set up for payroll deposits prior to initiating the change over to your hsbc account? It may also be related to how close to the pay date you initiated the request to change your bank info. I know for my employer, i was informed that if i ask to change bank info for payroll within a week of my pay date, my payroll would not be deposited into the new bank account until the next pay
Jr. Member
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Jul 25, 2018
179 posts
56 upvotes
Winnipeg, MB
Kiraly wrote:
Nov 24th, 2018 1:18 am
What do you mean you have to keep the account open for 12 months after you get the $300 bonus? What happens if you don't?
Pretty sure the TOS specify they can claw back the welcome bonus.
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Feb 1, 2006
2067 posts
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Did anyone here actually get the Mastercard bonus part of the account opening promotion?

I opened HSBC Advance end of Sep. and have received the $300. At the same time I also opened an HSBC World Elite MC (not premier) but have not received the 20,000 bonus points as part of the bank acct opening promo.

T&Cs are attached.

They don't specifically mention any additional bonus for the HSBC World Elite Mastercard but they do give a bonus of 20,000 pts for the HSBC Premier World Elite Mastercard. Seems like an oversight on their part. Why wouldn't they want to give any additional bonus on the World Elite card but bonuses on lesser HSBC cards?

When I signed up there was also 20,000 pts (received) for first use and 10,000 pts for exceeding 1k spend in first 3 months (achieved but not received). So at this point, I'm actually missing 30,000 pts. I've sent HSBC a secure message but they've referred me to their HSBC Rewards 1-800 #.
Images
  • Bank acct MC bonus promo.png
HSBC World Elite Mastercard
3% travel/1.5% everything else, Mastercard acceptance
31 day medical insurance, trip cxl, trip interrupt
Discuss here
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Jul 17, 2008
8468 posts
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604reefer wrote:
Nov 24th, 2018 1:47 am
Start with your workplace, assuming you don't see it in the previous bank account on direct deposit.

Workplace may have keyed it in wrong, but should have received an error message on transmission, unless it was a transposition error that still fit the valid field lengths. In the latter case it would likely be returned in a couple of days by HSBC with notification to your workplace, or HSBC will keep it and that's where the bank asks your workplace to put a trace on the payment.
RigorMortis wrote:
Nov 24th, 2018 2:46 am
Did your payroll get deposited into the account you had set up for payroll deposits prior to initiating the change over to your hsbc account? It may also be related to how close to the pay date you initiated the request to change your bank info. I know for my employer, i was informed that if i ask to change bank info for payroll within a week of my pay date, my payroll would not be deposited into the new bank account until the next pay
Actually I split my payroll, with half still going to old chequing and half to HSBC. Only half got deposited into my old chequing, HSBC never arrived. Will be contacting my HR on Monday to see. Been actually a week, so won't be waiting anymore.
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Jan 9, 2011
3252 posts
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projector wrote:
Nov 24th, 2018 7:24 am
Pretty sure the TOS specify they can claw back the welcome bonus.
Where are you seeing that? I can't find that anywhere.
18% = GTA residents as a proportion of Canada's total population
97% = chance that an RFDer lives in the GTA when he posts something location specific, without giving a location

Were you hit with surprise customs/import fees on an Amazon.ca purchase?
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Feb 1, 2006
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Kiraly wrote:
Nov 24th, 2018 11:35 am
Where are you seeing that? I can't find that anywhere.
T&Cs section 2.C for Premier Clawback.
HSBC World Elite Mastercard
3% travel/1.5% everything else, Mastercard acceptance
31 day medical insurance, trip cxl, trip interrupt
Discuss here
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Jan 9, 2011
3252 posts
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Vancouver
minimalist wrote:
Nov 24th, 2018 1:09 pm
T&Cs section 2.C for Premier Clawback.
Do you have a link for that? I'm not seeing a section 2.C. How about for Advance? I never saw any mention of any clawback when I signed up.

Never mind. Found it. Can't believe I missed it. https://www.hsbc.ca/1/content/canada4/p ... nglish.pdf
18% = GTA residents as a proportion of Canada's total population
97% = chance that an RFDer lives in the GTA when he posts something location specific, without giving a location

Were you hit with surprise customs/import fees on an Amazon.ca purchase?
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Feb 1, 2006
2067 posts
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Kiraly wrote:
Nov 24th, 2018 1:12 pm
Do you have a link for that? I'm not seeing a section 2.C. How about for Advance? I never saw any mention of any clawback when I signed up.

Never mind. Found it. Can't believe I missed it. https://www.hsbc.ca/1/content/canada4/p ... nglish.pdf
See attached for Advance Clawback. No link as I downloaded this when I signed up back in Sep/Oct.
Images
  • Advance clawback.png
HSBC World Elite Mastercard
3% travel/1.5% everything else, Mastercard acceptance
31 day medical insurance, trip cxl, trip interrupt
Discuss here
Sr. Member
Jun 8, 2007
937 posts
177 upvotes
Mississauga
Time is running out! Only a week to go!
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Jul 17, 2008
8468 posts
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If you need to contact HSBC what do you guys use? Chat only? They don't seem to have a number to call to talk with a rep
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Sep 3, 2005
1122 posts
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Toronto
Finally opened up the accounts today, didn’t apply visa because the rep confirmed there will be second credit check on top of the first credit check for opening the account. And I told the rep it should only be one credit check only but he mentioned that is incorrect cause their system.
Member
Apr 13, 2017
237 posts
41 upvotes
spy cl wrote:
Nov 24th, 2018 9:32 pm
Finally opened up the accounts today, didn’t apply visa because the rep confirmed there will be second credit check on top of the first credit check for opening the account. And I told the rep it should only be one credit check only but he mentioned that is incorrect cause their system.
I got a different answer that it's only credit check. Either ways, I applied for it. Approved for 15k. Have to book tickets to India - can use the welcome bonus to offset the tickets.

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