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[HSBC] HSBC- Receive up to $700 when you start banking with us.

  • Last Updated:
  • Sep 16th, 2019 7:48 pm
[OP]
Jr. Member
Mar 19, 2016
126 posts
273 upvotes

[HSBC] HSBC- Receive up to $700 when you start banking with us.

Deal Link:
Savings:
$700
Retailer:
HSBC
More offers from HSBC
haven't seen this posted.

Enjoy

Mod Reminder: to keep this thread open, do not ask for referrals or state that you have one to give. Asking for members to message you is also not allowed.
Last edited by Mars2012 on Aug 26th, 2019 11:57 am, edited 1 time in total.
Reason: added reminder
224 replies
Deal Addict
Oct 22, 2014
3128 posts
1224 upvotes
Toronto
I did this last Sept (still holding the Advance Chequing account) and it's pretty good. But please note the following:

The welcome bonus will vary according to the opened HSBC Chequing Account: HSBC Premier Chequing Account, welcome bonus is $500; (ii) HSBC Advance Chequing Account, welcome bonus is $300 and; (iii) HSBC Personal Chequing Account, welcome bonus is $100.

You can also get extra $350 / $100 (Premier / Advance) by signing up through a referral - the HSBC STEP program.

https://www.hsbc.ca/share-the-experience/

Maximum welcome bonus on Advance chequing is
$300 for opening chequing
$100 via referral from another Advance
$100 for direct deposit
$50 credit card rewards (EDIT: For non-premier credit cards it says $50 cashback rebate or 5,000 points for HSBC Advance MC or HSBC MC)
Total $550

Maximum welcome bonus on Premier chequing is
$500 for opening chequing
$350 via referral from another Premier
$100 for direct deposit
$100 credit card rewards for premier credit cards.
Total $1050
Last edited by Elfwood on Aug 25th, 2019 11:04 pm, edited 3 times in total.
Member
Mar 16, 2018
301 posts
273 upvotes
Hamilton
Any HSBC credit cards worth churning?

6 month wait for the cash reward.
Deal Addict
Jul 22, 2007
4585 posts
3015 upvotes
Calgary
Yeah, this offer is on these forums somewhere. It’s near the bottom because this banks sucks hard.
Deal Addict
Oct 22, 2014
3128 posts
1224 upvotes
Toronto
SammyDavis wrote:
Aug 25th, 2019 10:00 pm
Yeah, this offer is on these forums somewhere. It’s near the bottom because this banks sucks hard.
I have done all the banking promos and this one is better than Scotia and CIBC. And the referral program on HSBC gives it much higher bonus earning potential than other banks.

In terms of everyday banking convenience, HSBC is poor.
Member
Apr 13, 2017
471 posts
127 upvotes
I did this last September as well.

If you are planning to open advance checking,remember to put all of your 5,000 in the 14 to 15 month GIC and keep the checking account balance 0. this way you earn a decent interest (~2.5%) while you keep your advance account open for 12 months from the day you get your sign up bonus.

I got 300 sign up + 100 referral + 200 payroll. Also, with HSBC Mastercard I got about 850$ in points redemption for travel purchases.

Spouse got 300 sign up + 200 referral , but didnt get payroll because maternity EI doesnt qualify as payroll.

Total money earned between spouse and I = 1950$ so far.
Deal Addict
Oct 4, 2008
1075 posts
181 upvotes
kangarooz wrote:
Aug 25th, 2019 9:47 pm
I am actually looking to for another bank account as I am currently only using a standard TD bank is this a good choice?
I would say yes. I pay very little when using other banks ATM vs Scotiabank surcharge of 2 as punishment for not using theirs. I believe HSBC doesn’t charge me anything and also rebate a buck from what other bank is charging.
Member
Mar 26, 2012
209 posts
67 upvotes
Elfwood wrote:
Aug 25th, 2019 8:25 pm
I did this last Sept (still holding the Advance Chequing account) and it's pretty good. But please note the following:

The welcome bonus will vary according to the opened HSBC Chequing Account: HSBC Premier Chequing Account, welcome bonus is $500;

Maximum welcome bonus on Premier chequing is
$500 for opening chequing
$350 via referral from another Premier
$100 for direct deposit
$100 credit card rewards.
Total $1050
I have received 2 different opinions from hsbc. One hsbc employee told me that i can get $500 welcome bonus for the premier account, if i deposit $25k into the account, but a 2nd hsbc employee told me over the phone that I also need to payroll deposit and a credit card as well, i.e., they are linked together.

It is not sure if a customer needs to maintain a minimum $25k balance for 1 year, i.e., whether the customer can take out the money next week, or transfer to part or all $25k to the hsbc invest direct to buy stocks.

In addition, it seems that you have to maintain the bank account active for 1 year; otherwise, there will be a welcome bonus charge back. I guess that, by being active, it means there will be recurring deposits or charges in the bank account.
Last edited by fkungery on Aug 25th, 2019 10:27 pm, edited 1 time in total.
Jr. Member
Feb 11, 2016
131 posts
164 upvotes
Elfwood wrote:
Aug 25th, 2019 8:25 pm
I did this last Sept (still holding the Advance Chequing account) and it's pretty good. But please note the following:

The welcome bonus will vary according to the opened HSBC Chequing Account: HSBC Premier Chequing Account, welcome bonus is $500; (ii) HSBC Advance Chequing Account, welcome bonus is $300 and; (iii) HSBC Personal Chequing Account, welcome bonus is $100.

You can also get extra $350 / $100 (Premier / Advance) by signing up through a referral - the HSBC STEP program.

https://www.hsbc.ca/share-the-experience/

Maximum welcome bonus on Advance chequing is
$300 for opening chequing
$100 via referral from another Advance
$100 for direct deposit
$100 credit card rewards.
Total $600

Maximum welcome bonus on Premier chequing is
$500 for opening chequing
$350 via referral from another Premier
$100 for direct deposit
$100 credit card rewards.
Total $1050
How much do you have to keep the account open for? 12 months as mentioned above?

If I sign up then refer wife... do I get bonus for referring also?

Thanks!
Deal Addict
Oct 22, 2014
3128 posts
1224 upvotes
Toronto
fkungery wrote:
Aug 25th, 2019 10:21 pm
I have received 2 different opinions from hsbc. One hsbc employee told me that i can get $500 welcome bonus for the premier account, if i deposit $25k into the account, but a 2nd hsbc employee told me over the phone that I also need to payroll deposit and a credit card as well, i.e., they are linked together.

It is not sure if a customer needs to maintain a minimum $25k balance for 1 year, i.e., whether the customer can take out the money next week, or transfer to part or all $25k to the hsbc invest direct to buy stocks.

In addition, it seems that you have to maintain the bank account active for 1 year; otherwise, there will be a welcome bonus charge back. I guess that, by being active, it means there will be recurring deposits or charges in the bank account.
You don't need to apply credit card to get the chequing account welcome bonus of $500/$300
Xbowop wrote:
Aug 25th, 2019 10:23 pm
How much do you have to keep the account open for? 12 months as mentioned above?

If I sign up then refer wife... do I get bonus for referring also?

Thanks!
Click on the offer link and see the footnotes
2 The minimum deposit and the HSBC Online banking registration must be completed within 1 month of account opening. The minimum deposit required will vary according to the opened HSBC Chequing Account: (i) HSBC Premier Chequing Account, minimum deposit required is $25,000 CAD; (ii) HSBC Advance Chequing Account, minimum deposit required is $5,000 CAD and; (iii) HSBC Performance Unlimited Chequing Account, the minimum deposit required is $1,000 CAD; (iv) HSBC Performance Limited Account, the minimum deposit required is $1,000 CAD.
The welcome bonus takes about 2-3 months to show up. Once you get the welcome bonus, you need to keep the min deposit for 12 months to avoid clawback. The good thing is you can keep the min deposit in a GIC or even stock market.

Yes I referred my wife and got the referral bonus.
Deal Addict
User avatar
Jan 27, 2014
4373 posts
1456 upvotes
Interested but this is confusing.

What's the referral thing about?

What is minimum balance needed for each type of account?
Deal Guru
Sep 2, 2008
10876 posts
1022 upvotes
Very good promo I was quite impressed with it last go around. World elite MasterCard came with a decent signup bonus as well.

Geoff at Spadina location in Toronto was really helpful.
Newbie
Feb 5, 2016
73 posts
4 upvotes
Toronto, ON
aren't you guys worried about the credit checks that happen when you do all these cash rewards from banks and credit cards?

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