Expired Hot Deals

[HSBC] 2.88% 88 day GIC offer for New Money with a minimum 5K up to 500K at HSBC

  • Last Updated:
  • Feb 12th, 2018 5:37 pm
[OP]
Sr. Member
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Apr 5, 2016
567 posts
1070 upvotes
BC

[HSBC] 2.88% 88 day GIC offer for New Money with a minimum 5K up to 500K at HSBC

Deal Link:
Expiry:
February 23, 2018
Retailer:
HSBC
More offers from HSBC
HSBC 2.88% 88 day GIC offer for New Money with a minimum 5K up to 500K

OP's comments:
I realize many of you don't like HSBC, but here's a pretty good 3 month GIC offer from them.
This beats the Tangerine 2.5% offer, and EQ 2.3% offer. Doesn't quite hit the 3% Simplii offer, but that was plagued with issues.
This is hot if you have an existing HSBC account without any cash in it, or if you had your funds outside of HSBC prior to February 2, 2018.
Please note that buying a GIC means your money is locked in for the term (in this case 88 days) and you won't have access to it for the specific time period.
When you buy the GIC, make sure to tell them not to renew the term.

Receive a special interest rate of 2.88% per annum for 88-Day Canadian currency (non-registered, non-redeemable) GICs when you bring in New Deposits* to HSBC Bank Canada by February 23, 2018.

You have to purchase the GIC between February 3, 2018 to February 23, 2018.

Offer Details:
  • The funds used to make a deposit in the 88-Day GIC must come from a source other than the balances held as of February 2, 2018 in any sole or joint account with HSBC Bank Canada or any of its subsidiaries, including deposit accounts (such as Chequing, Savings, Term Deposit and Registered accounts) or investment accounts (such as mutual funds, World Selection Portfolio, Portfolio Investment Management accounts and InvestDirect balances).
  • The deposit in Canadian currency must be between $5,000.00 and $500,000.00 CAD.
  • The deposit and the confirmation for the 88-Day GIC (simple interest option) must be issued during the period from February 3, 2018 to and including February 23, 2018.
  • 88-Day GICs cannot be held in any registered account such as an RRSP, RRIF or TFSA.
  • The deposit must be made by an individual, either alone or jointly with other individuals.
  • The special interest rate for qualifying 88-Day GICs is 2.88% per annum. Interest is calculated daily, not compounded and is paid at maturity.
  • Redemption or withdrawal of all or portion of the deposit held in an 88-Day GIC prior to the end of the 88-Day term is not allowed. If we permit you to withdraw prior to the end of the term, we will not pay you interest.

Enjoy!
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20 replies
Jr. Member
Aug 29, 2010
171 posts
126 upvotes
Works out to be a bit less than $35 per $5,000 deposit for 3 months.. minus fees to transfer money to HSBC (bank draft fee, etc..)
Not really worth the hassel for me..
Sr. Member
User avatar
Nov 23, 2004
820 posts
295 upvotes
Edmonton
How long is the Tangerine offer good for? I got a message saying that my special offer has been activated but I don't remember the duration of the offer. Thanks
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Newbie
Sep 6, 2006
28 posts
69 upvotes
Stay away from hsbc. It doesn't even allow you to do free bank-to-bank transfer, only email transfer with low daily limit or wire transfer on an outrageous fee.
Not worth the hassle.
[OP]
Sr. Member
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Apr 5, 2016
567 posts
1070 upvotes
BC
Best and fastest way to transfer money to HSBC is to hand deliver a cheque to the branch.
Alternatively, if HSBC is added as one of your ‘transfer’ accounts on your existing bank account (like Tangerine), then push the funds to HSBC electronically and pull it back when offer is complete.
Both these options should be no fee / cost for most institutions.
Koodo $40/6GB + $45/10GB Public Mobile $8/50min Shaw 150 Tangerine Bank
I have provided consulting services to Bell, Virgin, Rogers, Fido, Telus and Koodo, as well as many major financial institutions in Canada.
Deal Guru
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Jan 27, 2004
10451 posts
1353 upvotes
thank you OP...will do it asap
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[OP]
Sr. Member
User avatar
Apr 5, 2016
567 posts
1070 upvotes
BC
wilbrod wrote:
Feb 9th, 2018 6:48 am
How long is the Tangerine offer good for? I got a message saying that my special offer has been activated but I don't remember the duration of the offer. Thanks
There are 3 different Tangerine Offers.
  1. Become a new client to Tangerine and receive 2.5% for 6 months.
  2. January 2018 - Targeted Offer: 2.5% on New Money until the end of May
  3. February 2018 - Targeted Offer: 2.5% on New Money until end of June
Koodo $40/6GB + $45/10GB Public Mobile $8/50min Shaw 150 Tangerine Bank
I have provided consulting services to Bell, Virgin, Rogers, Fido, Telus and Koodo, as well as many major financial institutions in Canada.
Member
Jul 14, 2009
379 posts
714 upvotes
GTA
More options to choose from is good, thanks for posting OP and making me aware of this.
ChiliPalmer wrote:
Feb 9th, 2018 4:05 am
Doesn't quite hit the 3% Simplii offer, but that was plagued with issues.
Just curious, I'm a bit out of the loop, what issues were occuring with Simplii?
[OP]
Sr. Member
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Apr 5, 2016
567 posts
1070 upvotes
BC
TimBitz wrote:
Feb 9th, 2018 9:43 am
More options to choose from is good, thanks for posting OP and making me aware of this.



Just curious, I'm a bit out of the loop, what issues were occuring with Simplii?
Here's the link to the Simpii promo (not available anymore)
In summary though, the main issue was account openings were plagued with errors, and took over a month to process, with an extremely tedious and complicated account opening experience. Running 2 hard checks to open a savings account, complicated interest payment. Customer service couldn't perform verifications, their telephone system was down for weeks etc. Simplii is virtually stuck in the stone ages compared to all the other financial institutions.
Koodo $40/6GB + $45/10GB Public Mobile $8/50min Shaw 150 Tangerine Bank
I have provided consulting services to Bell, Virgin, Rogers, Fido, Telus and Koodo, as well as many major financial institutions in Canada.
Member
Jul 10, 2006
393 posts
91 upvotes
Toronto
To open a bank account at HSBC is a slow process as with any of the major banks. Have to be done in person and with an appointment only.
Deal Addict
User avatar
Nov 18, 2012
1231 posts
280 upvotes
Toronto
You also need a cheque account for transfer the money out, which cost your time and monthly fees.

Don't forget the hard hit for credit check when you open the account.

The promotion is only good if you already have the account with them and you also have extra money.
Simple is the best.
Sr. Member
May 3, 2008
969 posts
326 upvotes
Perth
............. or, you could actually make money with that $5k by putting your money in a TFSA trading account, buy shares in top tier Canadian MJ companies or an MJ ETF and leave it alone. ;)
Deal Addict
Aug 5, 2015
1608 posts
895 upvotes
Montreal, QC
sneaky wrote:
Feb 9th, 2018 11:05 am
............. or, you could actually make money with that $5k by putting your money in a TFSA trading account, buy shares in top tier Canadian MJ companies or an MJ ETF and leave it alone. ;)
Yes because bitcoin and pot stocks will only be going up, indefinitely and forever! Good call.
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Jan 25, 2012
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pocket1 wrote:
Feb 9th, 2018 10:15 am
To open a bank account at HSBC is a slow process as with any of the major banks. Have to be done in person and with an appointment only.
Book an appointment by phone. Go in for an approx. 1 hour appointment. Bring your ID and cheque(s) to deposit. Done.
Faster than almost any online bank account opening which typically take a week or so.
Link Tangerine and EQ to your new or existing HSBC account. Transfer funds out when promotion is over :)
blackart wrote:
Feb 9th, 2018 10:26 am
You also need a cheque account for transfer the money out, which cost your time and monthly fees.
Don't forget the hard hit for credit check when you open the account.
The promotion is only good if you already have the account with them and you also have extra money.
OP identified most of that in the original post and subsequent posts.
You do NOT need a chequing account to transfer the money out. Use a bank account with the push/pull feature.
I agree, for $5000 it's not worth it, but if you're doing it with 100K~500K it's a great deal.
sneaky wrote:
Feb 9th, 2018 11:05 am
............. or, you could actually make money with that $5k by putting your money in a TFSA trading account, buy shares in top tier Canadian MJ companies or an MJ ETF and leave it alone. ;)
Um. No. ;)
Sr. Member
May 3, 2008
969 posts
326 upvotes
Perth
willy0275 wrote:
Feb 9th, 2018 11:22 am
Yes because bitcoin and pot stocks will only be going up, indefinitely and forever! Good call.
I didn't mention crytpo... you did. The end of weed prohibition in Canada is a once in a lifetime opportunity to invest early in companies that will be huge earners. This is no different than ending alcohol prohibition and you should take a look at the shares prices of all the big brand liquor companies and distributors that have become goliaths over the decades since they stopped smashing barrels of whiskey. But that's fine, you sit this one out,Willy and feel comfort in your sarcasm... while I continue to pay my mortgage off and fund my retirement with my gains from this sector. ;)

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