HSBC new account offer

Eleventeen wrote: ↑Very poor deal.
"Misleading" is an extremely overly generous compliment.
I'd describe HSBC's offer more so a garbage dump desperately seeking a way to scrape up some garbage customers to avoid bankruptcy. Their offers are so garbage low and demands so high, seems like they are stuck in the 80s competing with banks that don't even understand what decade it is.

shabbydog wrote: ↑ Realistically, these aren't high demands. They're pretty standard. They don't even demand you keep the account open 7-12 months and pay you your bonus at the end.
And a $5k minimum to open an Advance for a $300 return is 6% is far from being "garbage low".

Eleventeen wrote: ↑ I was generous to call that garbage low.

This is your normal garbage low offer:
cibc-cibc-earn-300-12-month-fee-rebate- ... t-2358532/

Same thing, but 3k minimum instead of 5k and.. Except CIBC actually has decent customer service unlike HSBC's rather poor reputation (even the OP wasn't happy with it)

Neither is a good bank account, nor a intro offer worth anyones time, just offering an example or a very easily comparable better account with a similar intro offer.

And the so called demand of keeping an account open X months, is a standard boiler plate t&C anyways, no bank can actually enforce that, and none actually try. Well HSBC might actaully try, but CIBC certainly doesn't. They credit in about 3 months.

Actual good bank account (They don't have silly cash sign incentives because they don't need them: Return in first year is 1000x++++ better than any big bank or HSBC, because they don't charge insane fees):
https://www.eqbank.ca/
or
https://www.motusbank.ca/

Eleventeen wrote: ↑ I was generous to call that garbage low.

This is your normal garbage low offer:
cibc-cibc-earn-300-12-month-fee-rebate- ... t-2358532/

Same thing, but 3k minimum instead of 5k and.. Except CIBC actually has decent customer service unlike HSBC's rather poor reputation (even the OP wasn't happy with it)

Neither is a good bank account, nor a intro offer worth anyones time, just offering an example or a very easily comparable better account with a similar intro offer.

And the so called demand of keeping an account open X months, is a standard boiler plate t&C anyways, no bank can actually enforce that, and none actually try. Well HSBC might actaully try, but CIBC certainly doesn't. They credit in about 3 months.

Actual good bank account (They don't have silly cash sign incentives because they don't need them: Return in first year is 1000x++++ better than any big bank or HSBC, because they don't charge insane fees):
https://www.eqbank.ca/
or
https://www.motusbank.ca/

dankup wrote: ↑Is this offer open to clients who closed their account recently?

shabbydog wrote: ↑ The promo states "up to $1,000" in bonuses can be earned, but the full $1,000 is misleading. It's more like $300-$700 without incurring any fees, which is still great.

You have your choice of four chequing accounts to open up, each with a separate minimum balance to waive the monthly fee:
Premier, $25k minimum with an offer of $500 bonus
Advance, $5k minimum with an offer of $300 bonus
Student or Youth Savings, no minimum with an offer of $100 (student or age requirement for this offer)

Personally, the Advance promo seems like the best deal since it's a $300 return on a minimum $5k balance (6%) vs requiring $25k for the Premier.

The remaining bonuses are broken up into various requirements and are fairly easy to meet:
$50 if 2 bill payments are made online within 3 months
$50 if 2 separate pre-authorized transactions are set up within 3 months
$100 if recurring payroll is set up within 6 months

These last 4 seem like non-bonuses to me since you have to pay a fee to 'earn' the promo money back, and I won't bother mentioning but they appear in the link.

I went for this bonus last year. It was set up a bit different but my personal experience was that HSBC paid their promos fairly timely.
I'm a Premier customer with them and I wouldn't say their service is stellar, but it meets my needs.

wally_walrus wrote: ↑ Thanks OP!
Do I have to keep the account open after bonus is paid? Any penalty for closing immediately after?

Also was just curious - why you say the last 4 bonuses, when there's only 3 listed? Sorry if it's a dumb question and you meant last 3 instead...

shabbydog wrote: ↑ T&C states that this has to be your first HSBC account.

Jonavin wrote: ↑ If you get their credit card first, does it invalidate your "new account" status or do they actually treat bank accounts separately.