Personal Finance

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

  • Last Updated:
  • Dec 10th, 2018 7:21 pm
Deal Addict
Sep 3, 2005
1122 posts
48 upvotes
Toronto
Have anyone tried to link their external account (i.e. Tangerine's Chequing account ) with HSBC?

Tangerine has made two small deposits (so I can confirm the deposit amount and link it with Tangerine) and since Monday but HSBC chequing account is still shown $0 or nothing... very strange..

Also, I deposit $5,000 cheque to HSBC's account since Saturday, it's end of Wednesday, money still sitting in my Tangerine's account... again... it's very strange...
Deal Addict
Oct 24, 2009
1685 posts
399 upvotes
spy cl wrote:
Nov 28th, 2018 9:30 pm
Have anyone tried to link their external account (i.e. Tangerine's Chequing account ) with HSBC?

Tangerine has made two small deposits (so I can confirm the deposit amount and link it with Tangerine) and since Monday but HSBC chequing account is still shown $0 or nothing... very strange..

Also, I deposit $5,000 cheque to HSBC's account since Saturday, it's end of Wednesday, money still sitting in my Tangerine's account... again... it's very strange...
Linked my HSBC savings account with EQbank for when they were doing the 3.50% interest promo with no issue, never tried Tangerine as I barely use them anymore.
Deal Addict
Oct 24, 2009
1685 posts
399 upvotes
spy cl wrote:
Nov 27th, 2018 10:35 pm
that is the only reason I didn't get one.. cause my rep insist there would be an additional credit check, I don't think he lie to me as he get more sales if he said it's only one credit check but i am getting mix information from rfder.
Your rep was misinformed, there is only one credit check if you open an account and credit card (world elite mastercard in my case) together. This was the case for me and many people who opened accounts with HSBC over the last few months. I monitor my hits on both transunion and equifax.
Deal Addict
Sep 3, 2005
1122 posts
48 upvotes
Toronto
cbt123 wrote:
Nov 28th, 2018 10:24 pm
Linked my HSBC savings account with EQbank for when they were doing the 3.50% interest promo with no issue, never tried Tangerine as I barely use them anymore.
thanks, when you entering the transit number on EQ bank, do you put transit number 5 digits? like 10333, Institution Number: 016 Account Number: xxxxxx150 ?

Thanks!!
Deal Addict
Sep 3, 2005
1122 posts
48 upvotes
Toronto
cbt123 wrote:
Nov 28th, 2018 10:29 pm
Your rep was misinformed, there is only one credit check if you open an account and credit card (world elite mastercard in my case) together. This was the case for me and many people who opened accounts with HSBC over the last few months. I monitor my hits on both transunion and equifax.
yeah, very weird. I am writing an email to HSBC to confirm if it's just one or two credit checks. Haven't got any reply yet...
Deal Addict
Oct 24, 2009
1685 posts
399 upvotes
spy cl wrote:
Nov 28th, 2018 10:39 pm
thanks, when you entering the transit number on EQ bank, do you put transit number 5 digits? like 10333, Institution Number: 016 Account Number: xxxxxx150 ?

Thanks!!
Yeah Transit number: 1033x (depends on branch), Institution number: 016, and I think account number was the 9 digit number after 33x
Penalty Box
User avatar
Jul 17, 2008
8468 posts
1848 upvotes
minimalist wrote:
Nov 28th, 2018 7:21 am
Where do you see a 120 day GIC at 2.3% I see these GIC rates on the public website:

Guaranteed Investment Certificates



Term Length Monthly Interest (min. $5000) Semi-annual Interest (min. $1000) Annual Interest (min. $1000) Annual Compound Interest (min. $1000) Interest at Maturity (min. $5000)
30 Days - - - - 0.20%
60 Days - - - - 0.40%
90 Days 0.95% - - - 0.95%
120 Days 0.95% - - - 0.95%
180 Days 1.00% - - - 1.00%
270 Days 1.10% - - - 1.10%
1 year 1.40% 1.40% 1.40% 1.40% 1.40%
2 years 1.50% 1.50% 1.50% 1.50% -
3 years 2.00% 2.00% 2.00% 2.00% -
4 years 2.10% 2.10% 2.10% 2.10% -
5 years 2.20% 2.20% 2.20% 2.20% -

Last week I did a 1 yr GIC redeemable at no penalty after 90 days at 1.6% which seemed like my best option for 1 year or less with HSBC.
120 GIC is 2.3%

Pick the Non Redeemable eGIC (Simple interest). Interest is paid either monthly or at maturity (I picked monthly, that way I can use it rather than wait 120 days). Hopefully I can renew after 120 days for the same or better rate. 5k will have to stay in anyway for 12 months.
Jr. Member
Aug 14, 2012
164 posts
92 upvotes
North Vancouver
Messerschmitt wrote:
Nov 29th, 2018 1:03 am
120 GIC is 2.3%

Pick the Non Redeemable eGIC (Simple interest). Interest is paid either monthly or at maturity (I picked monthly, that way I can use it rather than wait 120 days). Hopefully I can renew after 120 days for the same or better rate. 5k will have to stay in anyway for 12 months.
For anyone looking for this, it keeps showing up on my homepage after logging in to HSBC online banking. Under your accounts on the left column. Offer ends Dec 31
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User avatar
Feb 1, 2006
2067 posts
450 upvotes
xx1what wrote:
Nov 27th, 2018 9:58 pm
Are you sure you get an "extra" 20k points if you sign up for credit card along with checking account?

https://www.hsbc.ca/1/content/canada4/p ... nglish.pdf
https://www.hsbc.ca/1/2/personal/bankin ... mastercard

In the terms, it does say 20k welcome bonus on HSBC WE (not premier).
But, on the HSBC credit card page, it also says 20k welcome bonus.

I would think they mean the same thing, as they are both "welcome bonus".
In other words, there are no "extra" bonus for applying for credit card and checking together.
(This is actually what happens in most bank promos I think...)

Yet you seem to be saying you are entitled to 20k points welcome bonus twice.

This is even more confusing to me, as on the 6th page of the terms, it says:

The welcome bonus is earned on the first transaction ...
Limit of one welcome bonus per account ...

Similar things can be found on the credit card page...
HSBC chat rep told me the 20,000 MC welcome pts mentioned in "HSBC 2018 Offers" T&Cs PDF is separate from regular 20,000 MC welcome pts.

But he said I have to wait 120 days from MC opening to claim missing pts so I have to wait till end of FEB. I'll report back.
HSBC World Elite Mastercard
3% travel/1.5% everything else, Mastercard acceptance
31 day medical insurance, trip cxl, trip interrupt
Discuss here
Member
Jan 21, 2012
280 posts
69 upvotes
The HSBC branch staff who opened my bank account for me said there is only one 20000 welcome bonus from World Elite Mastercard. I had double, even triple checked with her. We will see.
Deal Addict
Sep 3, 2005
1122 posts
48 upvotes
Toronto
No wonder they have no business in Canada, see below for the respond I asked about the credit check

Re: MasterCard® - Other enquiries
29 Nov 2018

Dear MR XXXXXXX,

Thank you for using HSBC MasterCard® Online Services.

To resolve this matter, please contact HSBC MasterCard Customer Care at
the number on the back of your card.

We appreciate the opportunity to service your account online.

Regards,

HSBC MasterCard Online Services

®MasterCard is a registered trademark of MasterCard International
Incorporated. Used pursuant to license.

Your HSBC MasterCard is issued by HSBC Bank Canada.



Original Message Follows:
------------------------

Hi I opened Advance account at a branch last week, and the RM informed
me that there will be two credit checks, one for opening account and
another one for credit card application, is that true? Cause that is
the main reason I didn't apply one. In addition, my friend insisted
his RM mentioned it's only going to be one credit check. I am getting
mix information, please confirm, thanks.

XXXXXX
Newbie
Jun 19, 2009
44 posts
10 upvotes
I just linked HSBC cheque account as external account to my Simplii cheque account. If I move money to / from HSBC on Simplii side, will there be any service fee with Simplii and HSBC? Anyone has done this before? Thanks!
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User avatar
Jul 17, 2008
8468 posts
1848 upvotes
wzpzj wrote:
Nov 29th, 2018 12:04 pm
I just linked HSBC cheque account as external account to my Simplii cheque account. If I move money to / from HSBC on Simplii side, will there be any service fee with Simplii and HSBC? Anyone has done this before? Thanks!
Doing it with all other banks I don't see being any fee.

I'm just going to use etransfers to transfer out everything down to $0 and leave $5000 GIC floating around until I go close the account and get the $5000 in cash so I don't get hit with any monthly fee.

Currently the 2.3% is quite good for $5000 that would have been trapped in the account anyway for a year. Much better than other banks that require the account to stay open for a year and have the money stuck in chequing making no interest.
Deal Addict
User avatar
Feb 1, 2006
2067 posts
450 upvotes
xx1what wrote:
Nov 27th, 2018 9:58 pm

Are you sure you get an "extra" 20k points if you sign up for credit card along with checking account?

https://www.hsbc.ca/1/content/canada4/p ... nglish.pdf
https://www.hsbc.ca/1/2/personal/bankin ... mastercard

In the terms, it does say 20k welcome bonus on HSBC WE (not premier).
But, on the HSBC credit card page, it also says 20k welcome bonus.

I would think they mean the same thing, as they are both "welcome bonus".
In other words, there are no "extra" bonus for applying for credit card and checking together.
(This is actually what happens in most bank promos I think...)

Yet you seem to be saying you are entitled to 20k points welcome bonus twice.

This is even more confusing to me, as on the 6th page of the terms, it says:

The welcome bonus is earned on the first transaction ...
Limit of one welcome bonus per account ...

Similar things can be found on the credit card page...
lingecw wrote:
Nov 29th, 2018 9:55 am
The HSBC branch staff who opened my bank account for me said there is only one 20000 welcome bonus from World Elite Mastercard. I had double, even triple checked with her. We will see.
If they say there is only one 20,000 pt Welcome Bonus they are misinformed.

1. If you look at the T&Cs PDF upthread line 2 says "...we have prepared some exclusive offers for you." EXCLUSIVE means only for those who are also opening the Premier/Advance/HSBC Personal Banking packages.So you open the package and get bonus pts for the MC as well. Bonus pts above and beyond what any average Joe off the street would get if they only got the World Elite Mastercard and no chequing account package.

2. If you look at the box in section 3 it lists the respective additional Welcome Bonuses for the various HSBC MCs. The Premier, Advance and HSBC MCs all show a 5,000 pt additional bonus. This confirms these bonuses are in addition to whatever the public website lists for everyone because Premier, Advance and HSBC MC don't show ANY welcome bonuses for the general public on HSBC.ca.

3. If these 20,000 welcome pts are indeed the same 20,000 pts offered to everyone why don't the T&Cs say 30,000 pts broken down as 20,000 welcome and 10,000 for $1000 spend in 3 months? A total of 30,000 pts was the actual offer available to anyone on the World Elite in Sep/Oct from Hsbc.ca.
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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