Personal Finance

HSBC - $200 to upgrade to premier - targeted?

  • Last Updated:
  • Jan 9th, 2023 7:14 pm
Newbie
Dec 31, 2006
82 posts
114 upvotes

HSBC - $200 to upgrade to premier - targeted?

Got this offer in the mail. Currently have an advance account with them from the last promo.

As a valuable HSBC Customer, you're invited to upgrade to an HSBC Premier1 chequing account and get a $200 bonus.

What do I get from a Premier relationship?
HSBC Premier is a personal banking service that travels with you wherever you are.

As your financial needs change, HSBC Premier can help you achieve your goals with exclusive banking products, and services including:
A dedicated Premier Relationship Manager as your one point of contact for all your financial needs
Preferred rates on savings, investment and credit products
Peace of mind when travelling the world with emergency Premier Debit Card replacement and emergency cash at any HSBC branch worldwide2
Unlimited rebates on service fees† you pay other banks for transactions at non-HSBC ATMs in Canada
Upgrade today and get $200
$200 will be deposited into your HSBC Premier chequing account when you meet one of the following eligibility criteria:
Total Relationship Balance of $100,000 (CAD) or more, or
Total Mortgage Balance of $500,000 (CAD) or more, or
Total Monthly Income Deposit of $6,500 (CAD) or more plus confirmation of $100,000 or more in deposits and/or investments in Canada
Terms and conditions apply. See full details.


Looks like they added a new requirement of $6500 in deposits and $100k in investments at other institutions.
10 replies
Jr. Member
Jan 12, 2019
140 posts
88 upvotes
Ottawa, ON
I received an email with this offer on January 18. I also have an Advance account that I opened in June with a $500 bonus offer. For me, it's not worth the $200 bonus to upgrade because interest rates are too low. I have to keep my current account open until September of this year to keep the $500 bonus, and then I plan to close my account.


You're invited to upgrade to Premier
HSBC Premier
There is no better time to upgrade to Premier
Get $200* when you upgrade to HSBC Premier

Plus 6 months of complimentary access with no fees


As a valuable HSBC Customer, you're invited to upgrade to an HSBC Premier1 chequing account and get a $200 bonus.

What do I get from a Premier relationship?
HSBC Premier is a personal banking service that travels with you wherever you are.

As your financial needs change, HSBC Premier can help you achieve your goals with exclusive banking products, and services including:
A dedicated Premier Relationship Manager as your one point of contact for all your financial needs
Preferred rates on savings, investment and credit products
Peace of mind when travelling the world with emergency Premier Debit Card replacement and emergency cash at any HSBC branch worldwide2
Unlimited rebates on service fees† you pay other banks for transactions at non-HSBC ATMs in Canada
Upgrade today and get $200
$200 will be deposited into your HSBC Premier chequing account when you meet one of the following eligibility criteria:
Total Relationship Balance of $100,000 (CAD) or more, or
Total Mortgage Balance of $500,000 (CAD) or more, or
Total Monthly Income Deposit of $6,500 (CAD) or more plus confirmation of $100,000 or more in deposits and/or investments in Canada
Terms and conditions apply. See full details.

Your first 6 months of HSBC Premier are complimentary. After this, if you do not meet the Premier eligibility criteria3 you will be charged a monthly fee.




†You will receive a maximum $2.00 rebate for transactions at non-HSBC and non-THE EXCHANGE® ATMs in Canada.

1HSBC Premier requires you to have an active HSBC Premier chequing account, and maintain combined personal deposits and investments with HSBC Bank Canada and its subsidiaries of $100,000 or greater, hold a personal HSBC Bank Canada residential mortgage with original amount of $500,000 or greater, or have income deposits of $6,500 within a calendar month plus confirmation of $100,000 or more in assets under management in Canada. Some exclusions apply. A monthly fee will be charged if you do not meet at least one of the eligibility criteria above. For full details regarding eligibility and any fees which may apply please refer to the Personal Service Charges/Statement of Disclosure.

2Proper identification and/or additional verification is required for emergency card replacement and emergency encashment. Family members of the client must be HSBC customers to use the emergency encashment service. Emergency cash received will be deducted from the HSBC account specified by the client during the request. Some countries may have additional requirements and restrictions. Please inquire at the local HSBC branch for details.

3As a new Premier customer you have 6 months to meet at least one of the eligibility criteria described above. During this time, we do not charge the Below Eligibility Criteria fee of $34.95 per month. This does not apply if you are already enjoying a grace period where the existing grace period will continue until its original expiry date. For full details regarding eligibility for HSBC Premier and any fees which may apply please refer to the Personal Service Charges/Statement of Disclosure.
Banned
User avatar
Jul 17, 2008
11042 posts
3878 upvotes
keeping 100k is way more significant than 5000. Thanks but no thanks. Happy with the 500 I got already. Best return yet out of all banking promos
Deal Fanatic
User avatar
Feb 1, 2006
6494 posts
2490 upvotes
Ontario
Got it too. Wonder if it will conflict with Advance offer I did in October. I have to keep Advance acct open until Octoberish.
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%)
Newbie
Dec 31, 2006
82 posts
114 upvotes
The third option of having $6500 deposit a month and just showing them you have $100k in investments somewhere (doesn’t have to be with hsbc) is another option to get a premier account. Just have to have your payroll deposit in the account and then etransfer to your other bank.
Deal Guru
User avatar
Jul 12, 2003
12399 posts
4935 upvotes
Toronto
hoangd wrote: The third option of having $6500 deposit a month and just showing them you have $100k in investments somewhere (doesn’t have to be with hsbc) is another option to get a premier account.
That's not difficult then, Someone who MAX TFSA and their RRSP in the last few years can easily have 100k of "investments" somewhere.
$6500 deposit is similar to other bank's requirement to have a Premium/Premier/VIP account.
Retired Forum Moderator February 2009 - June 2015
Sr. Member
Mar 7, 2008
721 posts
196 upvotes
Leask
MP3_SKY wrote: That's not difficult then, Someone who MAX TFSA and their RRSP in the last few years can easily have 100k of "investments" somewhere.
$6500 deposit is similar to other bank's requirement to have a Premium/Premier/VIP account.
Yup because everyone in rfp makes over $100k annual income which will give you $6500 payroll after tax and deduction ;)
Newbie
Jun 26, 2008
70 posts
6 upvotes
MP3_SKY wrote: That's not difficult then, Someone who MAX TFSA and their RRSP in the last few years can easily have 100k of "investments" somewhere.
$6500 deposit is similar to other bank's requirement to have a Premium/Premier/VIP account.
what other banks have this type of model..just curious...im looking at other options?
Deal Guru
User avatar
Jul 12, 2003
12399 posts
4935 upvotes
Toronto
nasdaqnyse wrote: what other banks have this type of model..just curious...im looking at other options?
6000$ min at BMO to get premier bank account, waived annual fee of my World Elite MC, free cheques. Etc.

Not sure if still the same, I got it 3 yrs ago. Still using it.
Retired Forum Moderator February 2009 - June 2015
Newbie
Dec 31, 2006
82 posts
114 upvotes
THINKPOD wrote: Yup because everyone in rfp makes over $100k annual income which will give you $6500 payroll after tax and deduction ;)

Yea, definitely not for everyone but if you meet the requirements then it works out. I was already having my payroll deposit in the hsbc account so might as well upgrade and get bonus $200 and 50 off the Mastercard.

Does anyone know if you can upgrade from the non premier world elite card to the premier version?
Newbie
Dec 21, 2018
89 posts
65 upvotes
Vancouver
Hey @hoangd did you manage to figure out if you could upgrade from non premier world elite to the premier version? I assume HSBC would help with this but just wondering if it would be another credit check.

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